Property summary
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 kitchen, including a walk-in cooler, two freezers, multiple refrigerators, two pizza ovens, a deep fryer, a 10-burner stove, two commercial ovens, and a Hobart mixer. With two separate entrances, the space offers potential for subdivision. The dining area comfortably seats 90, with capacity for up to 100 guests. Ample parking is available with a 25-space lot. This recently renovated building is ready for immediate occupancy and presents a strong investment opportunity for owner-users. All offers will be considered.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 large-scale commercial establishments and a full range of commercial and profession…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-3 · Lake Wales, FLThe purpose of C-3 zone is designed to permit the development of commercial areas in groupings on major highways and to allow medium and large-scale commercial establishments and a full range of commercial and profession…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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 large-scale commercial establishments and a full range of commercial and profession…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-3 in Lake Wales, FL.
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