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    Property profile & analytics

    2421 State Rd 60th E Lake Wales, FL 33898-5122

    • Bars
    • 1,788 SF
    • 0.78 lot acres
    OFF-MARKET
    Value Estimation
    $260,000
    Location Intelligence
    Property ID
    US18-4791179
    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

    • Bars

    Property Details for 2421 State Rd 60th E

    Year built
    1967
    Lot size
    0.78 lot acres
    Property size
    1,788 SF
    Zone code
    C-3
    Property type
    Bars
    Property subtype
    Pubs
    APN
    283006940200002030
    APU
    283006940200002030

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $270,000

    • CAP approach

      CAP return
      Estimation
      6%
      $215,000
      6.5%
      $210,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $205,000
      Geo Method
      $240,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $230,000
      Retail
      $210,000
      Mixed-Use
      $185,000
      Hospitality
      $245,000
      Educational
      $230,000
      Residential Income
      $225,000
      Energy
      $205,000
      Income-Based Land
      $240,000
      Food Service
      $210,000

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.5489
    Latitude
    27.8947
    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
    $2,507
    $110,146
    $43,868
    $154,014
    -
    $110,146
    $43,868
    $154,014

    Comparable in this City

    • Value Estimation
      $480,000
      3,091 SF

      14143 Cp Mack Rd

      BAR, TAVERN • 3,091 SF
      14143 Cp Mack Rd, Lake Wales, FL 33898-7164
      View Details
    • Value Estimation by Request
      1,900 SF

      3200 State Rd 60th E

      BAR, TAVERN • 1,900 SF
      3200 State Rd 60th E, Lake Wales, FL 33898-5317
      View Details
    • Value Estimation
      $40,000
      3,721 SF

      6521 Deland Ave

      RESTAURANT • 3,721 SF
      6521 Deland Ave, Lake Wales, FL 33898
      View Details
    • Value Estimation
      $1,105,000
      3,035 SF

      2002 State Rd 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,035 SF
      2002 State Rd 60th E, Lake Wales, FL 33898-5182
      View Details
    • Value Estimation by Request
      1,409 SF

      7448 State Rd 60th E

      RESTAURANT • 1,409 SF
      7448 State Rd 60th E, Lake Wales, FL 33898-9730
      View Details
    • Value Estimation by Request
      30,689 SF

      2013 State Rd 60th E

      REGIONAL SHOPPING CENTER, MALL • 30,689 SF
      2013 State Rd 60th E, Lake Wales, FL 33898-5113
      View Details

    Similar Nearby for Sale

    • $4,000,000

      Established Pizza Restaurant Franchise Opportunity

      Established pizza restaurant franchise with 8 locations across Florida.
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    • Contact for pricing
      75.00 Acres

      75-Acre Commercial Land, Lake Wales

      Prime Industrial Land - Hwy 60 Access
      Wales Stembridge Rd & Hwy 60 Lk, Lake Wales, FL 33898
      View Details
    • $75,000
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      Lake Wales Land: 2.52 Acres

      Private escape, abundant wildlife, high & dry.
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      View Details
    • $84,950
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      Resort RV Lot in Lake Wales

      RV lot at Canopy Oaks with resort-style amenities.
      Hwy 630 E, Lake Wales, FL 33898
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      Vacant Land for Residential Development

      1.04 acres of vacant land suitable for residential development.
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    Similar Nearby for Lease

    • Contact for pricing
      4,448 SF

      Lake Wales Office Center

      High-visibility office suites near Walmart
      2505 State Road 60, Lake Wales, FL 33898
      View Details
    • Contact for pricing
      108,984 SF

      Hunt Bros Complex: Industrial Space

      Lake Wales, FL industrial spaces available
      2404 Hunt Brothers Rd, Lake Wales, FL 33898
      View Details
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    2421 State Rd 60th E
    Lake Wales, FL 33898-5122
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    Realmo Value Estimation

    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.

    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.

    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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