2421 State Rd 60th E Lake Wales, FL 33898-5122
Seize this exceptional opportunity to acquire a thriving, established bar and grill in Lake Wales, Florida. This turnkey business, boasting 135 feet of prime Highway 60 frontage, sits on a 0.78-acre lot within the Linear Commercial Corridor (LCC), less than half a mile from Walmart. The property, built in 1967, includes a well-known and beloved restaurant with a loyal customer base cultivated over 31 years of operation. The sale includes all equipment, furnishings, and operating materials. The spacious property features ample parking and both indoor and outdoor seating, creating a relaxed atmosphere perfect for everyday dining or small events. The current owner is motivated and a leaseback option may be available. This presents a unique chance to capitalize on an existing successful business or to repurpose the property to suit a variety of other commercial ventures. The property's high-traffic location and established reputation offer significant potential for growth through strategies such as expanding hours, leveraging third-party delivery services, or developing a stronger online presence. Don't miss this rare opportunity to own a piece of Lake Wales' commercial landscape.
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 professional use
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property 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 professional use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.