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Property profile & analytics
OFF-MARKET
Bars & Pubs

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

1,788 SF 0.78 ac lot Built 1967
Entity Owned 31-yr Hold ~ Est. High Equity
Property ID
US18-4791179
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1967
Total area 1,788 SF
Lot 0.78 ac (34,103 SF)
Zoning code C-3
APN 283006940200002030
UPID US18-4791179
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Norbys Bar & Grill INC
Norbys Bar & Grill INC
6 recorded transactions
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C-3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

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

Zone name Highway Commercial
General category COMMERCIAL
Zone area 635.05 ac
Source Realmo
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