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    Property profile & analytics

    2305 State Rd 60th W Lake Wales, FL 33859-8290

    • Office buildings
    • 2,400 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Dec 27, 2021
    $140,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4906802
    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

    • Office buildings

    Property Details for 2305 State Rd 60th W

    Year built
    1978
    Lot size
    0.37 lot acres
    Property size
    2,400 SF
    Zone code
    C-3
    Property type
    Office buildings
    APN
    273004912000003020
    APU
    273004912000003020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.6261
    Latitude
    27.9031
    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
    $2,662
    $21,870
    $111,455
    $133,325
    -
    $21,870
    $111,455
    $133,325

    Comparable in this City

    • Value Estimation
      $2,165,000
      10,014 SF

      Thompson Nursery Rd

      OFFICE BUILDING • 10,014 SF
      Thompson Nursery Rd, Lake Wales, FL 33859
      View Details
    • Value Estimation by Request
      953 SF

      1700 State Rd 60th W

      OFFICE BUILDING • 953 SF
      1700 State Rd 60th W, Lake Wales, FL 33859-8211
      View Details
    • Value Estimation
      $715,000
      9,720 SF

      211 Presidents Dr

      OFFICE BUILDING • 9,720 SF
      211 Presidents Dr, Lake Wales, FL 33859-7943
      View Details
    • Value Estimation
      $575,000
      2,714 SF

      23598 Hwy 27

      OFFICE BUILDING • 2,714 SF
      23598 Hwy 27, Lake Wales, FL 33859-7805
      View Details
    • Value Estimation by Request
      5,156 SF

      2301 Longleaf Blvd Ste, Unit 100

      OFFICE BUILDING • 5,156 SF
      2301 Longleaf Blvd Ste, Lake Wales, FL 33859-2542
      View Details
    • Value Estimation by Request
      2,100 SF

      18300 Hwy 27

      OFFICE BUILDING • 2,100 SF
      18300 Hwy 27, Lake Wales, FL 33859-2518
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,152 SF

      Lake Wales Retail/Restaurant Opportunity

      1,152 SF building on US Hwy 27, Lake Wales.
      14571 Us Highway 27, Lake Wales, FL 33859
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    • Contact for pricing

      Polk County Industrial Investment Opportunity

      Four industrial condo units for sale in Lake Wales.
      1750 Longleaf Blvd, Lake Wales, FL 33859
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    • $3,500,000
      11,760 SF

      Lake Wales Medical Office Building

      Class A, turnkey medical office
      23607 Us Highway 27, Lake Wales, FL 33859
      View Details
    • $1,000,000
      24.80 Acres

      Residential Development Land Opportunity

      24.82 acres suitable for residential development in Lake Wales.
      Townsend Rd, Lake Wales, FL 33859
      View Details
    • $495,000
      14.14 Acres

      14+ Acre Hobby Farm Land

      Land near HWY 27 and HWY 630A, suitable for hobby farm.
      Us Hwy 27 Hwy, Lake Wales, FL 33859
      View Details
    • $485,000
      26.74 Acres

      Land in Lake Wales, FL

      26.74 acres of land perfect for custom home or development.
      Lake Buffum Rd, Lake Wales, FL 33859
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Highway Frontage Commercial Property

      Versatile commercial property with highway frontage, suitable for various uses.
      16110 Us Highway 27, Lake Wales, FL 33859
      View Details
    • Contact for pricing

      Medical Office Building For Rent

      Two-story medical office building with fully built-out medical layout.
      23607 Us Highway 27, Lake Wales, FL 33859
      View Details
    • $6 SF/Yr
      50,000 SF

      Lake Wales Industrial Space

      5,400 SF Flex Space Available
      1750 Longleaf Blvd, Lake Wales, FL 33859
      View Details
    • Contact for pricing

      Lake Wales Buildable Parcel

      Buildable 0.8 acre parcel in Lake Wales, Florida.
      Hwy 27, 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
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    2305 State Rd 60th W
    Lake Wales, FL 33859-8290
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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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