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Financial
Distress signals
Property profile

1303 State Rd 60th E Lake Wales, FL 33853

OFF-MARKET
Turn key restaurants
Property ID
US18-5068018
2,623 SF 0.3 ac lot Built 1959
Last sale Dec 2024 · $483,700
Individually Owned Owner of record is an individual. 1-yr Hold Held for 1 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This 2,917 square foot vacant commercial property, located at 1303 State Rd 60 in Lake Wales, Florida (zip code 33853), is offered at $495,000 ($169.69/sq ft). Previously operating as Romeo's Italian Restaurant since 1986, this building presents a versatile opportunity for various food service concepts or other retail uses. The property boasts a prime location in Lake Wales' medical district, ensuring high visibility and convenient access. The interior features a fully equipped commercial…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$3k
Tax billed · 2023
Assessed value$150k
Assessed land$78k
Assessed improvement$71k
Effective rate1.92%

Value estimate

· Oct 2026
$310k
$279k – $341k
AI approach$310k
Submarket $/SF estimate$559k

Realmo valuation models over county records and 12 qualifying comparable sales.

Recently sold

What actually traded nearby?
$462/SF
County average, outlier-cleaned · 107 recorded sales of this use type
Observed band · Q1–Q3$139 – $764
Qualifying comparables12

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
C-3
The purpose of C-3 zone is designed to permit the development of commercial areas in groupings on major highways and to allow medium and ...
General categoryCOMMERCIAL
JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency21.1
Dental Office13.4
Hair Salon13.2

Location

1303 State Rd 60th E Lake Wales, FL 33853-4343
County assessor Recorded deeds · 2 transfers 12 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
218 Orange, Lake Wales, FL 33853-3734 $257,500 Feb 2025 2,610 SF
207 Park, Lake Wales, FL 33853-3705 $282,700 Aug 2024 2,548 SF
111 Orange, Lake Wales, FL 33853-4175 $125,000 May 2024 2,520 SF
214 Domaris, Lake Wales, FL 33853-4607 $250,000 Nov 2023 2,508 SF
247 Park, Lake Wales, FL 33853-3705 $53,500 Aug 2023 2,700 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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