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Property profile & analytics
FOR SALE
Retail space
126 State Road 60 W, Lake Wales, FL 33853
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-4717846
For Sale
1 / 50
$3,250,000
126 State Road 60 W, Lake Wales, FL 33853
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Property summary
AI-generated overview
This exceptional investment opportunity presents a 19,931-square-foot retail building situated on a 1.95-acre lot at 126 State Road 60 West in Lake Wales, Florida. Currently occupied by a closing Badcock & More furniture store, this property offers significant redevelopment potential. The freestanding building boasts excellent visibility and frontage on SR 60, a major thoroughfare, with convenient proximity to US 27. The property includes two buildings, constructed in 1988 and renovated in 2006, and sits on four parcels (APN: 273002903500008404, 273002903500008402, 273002903500008403, 273002903500008401) zoned C2. The asking price is $3,499,000, translating to $175.56 per square foot. The property's 100% occupancy currently provides immediate income, although the primary tenant is vacating soon. Ample land behind the main building allows for expansion or additional parking. A small residential dwelling is also included on the property. This prime location in a growing area of south Lake Wales makes this a compelling investment for savvy buyers seeking high-visibility retail space with redevelopment potential. The property offers a unique blend of immediate income and long-term growth opportunities.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Total area
18,218 SF
Lot
1.17 ac (51,052 SF)
Zoning code
C2R3
APN
273002903500008404
UPID
US18-4717846
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Badcock Home Furniture &more Home Decor Store Department Store
-
bealls Handbags Shop Men'S Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.88M
Owner & transaction history
Ji Beasley INC · 6 yrs held
Ji Beasley INC
since 2020
7 recorded transactions
Zoning & alternative use
C2R3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.0M
+133.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Wales submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,295,000
Current use
OFFICE BUILDING
$3,020,000
Change: +134% · Conversion: Easy
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$103 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$25,943
Tax year 2023
Assessed value
$1,272,493
Assessed 2023
Previous assessed
$1,243,893
+2.3% YoY
Effective rate
2.04%
On assessed value
Assessed land
$194,062
Assessed improvement
$1,078,431
Land market value
$194,062
Improvement market value
$1,078,431
Total market value
$1,272,493
Applied tax rate
90,320.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1988
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
18,218 SF
Lot
1.17 ac (51,052 SF)
Zoning code
C2R3
APN
273002903500008404
UPID
US18-4717846
Jurisdiction
POLK
Zoning & alternative use
C2R3 · Lake Wales, FL
Zoning C2R3 · permitted uses
C2R3 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$3.0M
RETAIL STORES Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.17 ac
Current owner
From public records · entity-resolved
Ji Beasley INC
Entity
Mailing address
126 STATE RD 60TH W, LAKE WALES, FL 33853-4409
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2020
—
Ji Beasley INC
—
Deed
related
$140,000 · Centerstate Bk NA
May 12, 2016
—
Ji Beasley INC
—
Deed
related
$173,818 · Centerstate Bk/fl
Jun 7, 2011
—
J I Beasley INC
—
Trustees Deed
related
$30,000 · Citizens Bank & Trust Co
—
—
Ji Beasley INC
—
Deed Of Trust
related
$40,000 · Centerstate Bk/fl
—
—
J I Beasley INC
—
Deed Of Trust
related
$76,500 · Centerstate Bk/fl
—
—
Ji Beasley INC
—
Deed Of Trust
related
$750,000 · Centerstate Bk/fl
—
—
Ji Beasley INC
—
Loan Modification
related
$140,000 · Centerstate Bk NA
—
—
J I Beasley INC
—
Deed Of Trust
related
$800,000 · Citizens Bank & Trust Co
—
—
Ji Beasley INC
—
Deed Of Trust
related
$35,016 · Citizens Bank & Trust Co
—
—
J I Beasley INC
—
Deed Of Trust
related
$30,000 · Citizens Bank & Trust Co
—
—
Ji Beasley INC
—
Loan Modification
related
$173,818 · Centerstate Bk/fl
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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