1970 State Road 60 Lake Wales, FL 33853
- Outlet malls
- 95,964 SF
- 9.85 lot acres
Current Use by Public Records
- Blue Rhino Propane Exchange / Propane Supplier
- Rural King / Farm Equipment Supplier
- Rural King Guns / Gun Shop
Property Details for 1970 State Road 60
- Year built
- 1994
- Lot size
- 9.85 lot acres
- Property size
- 95,964 SF
- Property type
- Outlet malls
- APN
- 283007940851000051
- APU
- 283007940851000051
Description
This exceptional 0.5-acre outparcel presents a remarkable investment opportunity in Lake Wales, Florida. Strategically located within the thriving East Gate shopping center, this property benefits from its proximity to a successful Rural King store and a Winn-Dixie supermarket, ensuring high visibility and consistent foot traffic. The site enjoys exceptional daily traffic counts exceeding 20,000 vehicles on SR 60, providing unparalleled exposure for any business. The surrounding area boasts a robust population exceeding 185,000 within a 15-mile radius, with average household incomes surpassing $60,000, indicating strong consumer spending power. Further enhancing the location's appeal is the presence of established national retailers such as Walmart, Wendy's, and McDonald's, creating a synergistic retail environment. The nearby Lake Wales Medical Center, a significant employer with 160 beds and over 520 employees, adds to the area's economic vitality and provides a substantial pool of potential customers. This single-tenancy outlot, classified as retail land in Polk County, offers unparalleled potential for a variety of commercial ventures. The property's high visibility, strong demographics, and established retail environment make it an ideal location for businesses seeking significant growth and market penetration.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,725,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,045,000
- 6.5%
- $3,005,000
- 7%
- $3,055,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,290,000
- Geo Method
- $3,235,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,250,000
- Retail
- $3,610,000
- Mixed-Use
- $2,860,000
- Hospitality
- $3,510,000
- Educational
- $2,825,000
- Residential Income
- $2,950,000
- Energy
- $3,440,000
- Income-Based Land
- $3,440,000
- Food Service
- $3,260,000
Location Insight
- Map
- Local Demand
- City
- Lake Wales
- County
- Polk
- State
- Florida
- Longitude
- -81.5569
- Latitude
- 27.8923
- CBSA code
- 29460
- CBSA name
- LAKELAND, FL METROPOLITAN STATISTICAL AREA
