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    Property profile & analytics

    17 Eagle Ridge Dr Lake Wales, FL 33859

    • Retail space
    • 4,311 SF
    • 0.76 lot acres
    For Lease
    View listing
    Last Sale
    Jul 31, 2023
    $1,800,000
    Value Estimations
    $1,405,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4887731
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sherwin-Williams Paint Store / Hardware & Home Improvement / Building Supply

    Property Details for 17 Eagle Ridge Dr

    Year built
    2022
    Lot size
    0.76 lot acres
    Property size
    4,311 SF
    Property type
    Retail space
    APN
    272921000000013110
    APU
    272921000000013110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,865,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,335,000
      COMMERCIAL (GENERAL)
      $1,220,000
      AUTO REPAIR, GARAGE
      $1,050,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.6182
    Latitude
    27.9513
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,352
    $323,573
    $505,147
    $828,720
    -
    $323,573
    $505,147
    $828,720

    Comparable in this City

    • Value Estimation
      $1,520,000
      10,236 SF

      23231 Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 10,236 SF
      23231 Hwy 27, Lake Wales, FL 33859-6801
      View Details
    • Value Estimation by Request
      1,560 SF

      2530 State Rd 60th W

      RETAIL STORES (PERSONAL SERVICES) • 1,560 SF
      2530 State Rd 60th W, Lake Wales, FL 33859-8219
      View Details
    • Value Estimation by Request

      Rdg Mall Rd

      Individual retail properties
      0 Rdg Mall Rd, Lake Wales, FL 33859
      View Details
    • Value Estimation by Request
      1,325 SF

      15485 Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 1,325 SF
      15485 Hwy 27, Lake Wales, FL 33859-2555
      View Details
    • Value Estimation by Request
      1,824 SF

      3502 Mtn Lk Cutoff Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,824 SF
      3502 Mtn Lk Cutoff Rd, Lake Wales, FL 33859-5414
      View Details
    • Value Estimation
      $605,000
      4,050 SF

      2400 Rdg Way

      RETAIL STORES (PERSONAL SERVICES) • 4,050 SF
      2400 Rdg Way, Lake Wales, FL 33859-6809
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Near Eagle Ridge Mall

      Retail development opportunity with high visibility near Eagle Ridge Mall.
      Nec Eagle Rdg Mall Entrance And Hwy 27, Lake Wales, FL 33859
      View Details
    • Contact for pricing

      Lowe's Outparcel Retail Pad

      Retail pad site at entrance to Eagle Ridge Mall.
      East Rdg Mall Rd, Lake Wales, FL 33859
      View Details
    • $5,000,000

      200 Acres Development Opportunity

      200 acres suitable for mixed-use or residential development.
      Chalet Suzanne Rd, Lake Wales, FL 33859
      View Details
    • $900,000

      Vacant Commercial Land on US 27

      9 acres of commercial land with high traffic and visibility.
      520 Candlelight Rd, Lake Wales, FL 33859
      View Details
    • $950,000
      Pending

      Commercial/Industrial Land in Lake Wales

      13.62 acres of commercial/industrial land suitable for phased development.
      6002 Waverly Rd, Lake Wales, FL 33859
      View Details
    • $95,000

      Land For Sale

      Land available for sale in Lake Wales, Florida.
      Jackson St, Lake Wales, FL 33859
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,848 SF

      Lake Wales Commercial Pad Site

      Prime .8-acre retail pad, buildable.
      0 Rdg Mall Rd, Lake Wales, FL 33859
      View Details
    • Contact for pricing
      3,655 SF

      Lake Wales Retail Space

      Retail space available for lease in Lake Wales, Florida.
      9 Eagle Ridge Dr, Lake Wales, FL 33859
      View Details
    • Contact for pricing
      1,318 SF

      Retail Space on Highway 27

      Retail space with high visibility and prominent signage available.
      24174 Hwy 27, Lake Wales, FL 33859
      View Details
    • Contact for pricing
      10,500 SF

      Retail & Restaurant Space Available

      400,000± SF retail and restaurant space for lease.
      Hwy 27, Lake Wales, FL 33859
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Eagle Ridge

      Up to 3,000 SF available near Eagle Ridge Mall.
      17 Eagle Ridge Dr, Lake Wales, FL 33859
      View Details
    • $41,808

      Highway 27 Commercial Property

      High-visibility commercial property on US Highway 27 available for lease.
      16110 Us Highway 27, Lake Wales, FL 33859
      View Details
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    17 Eagle Ridge Dr
    Lake Wales, FL 33859
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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