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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    251 E Park Ave Lake Wales, FL 33853

    • Investment properties
    • 6,390 SF
    • 0.08 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Jun 24, 2020
    $70,100
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5467761
    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

    • Cabinet Country, LLC / Tile Store / Showroom
    • Parlier + Crews Architects, PA / Architect

    Property Details for 251 E Park Ave

    Year built
    1928
    Lot size
    0.08 lot acres
    Property size
    6,390 SF
    Zone code
    C-1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    273001883000025201
    APU
    273001883000025201

    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
    -81.5871
    Latitude
    27.9029
    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
    $13,058
    $37,582
    $615,110
    $652,692
    -
    $37,582
    $615,110
    $652,692

    Comparable in this City

    • Value Estimation
      $805,000
      5,220 SF

      205 Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,220 SF
      205 Park Ave, Lake Wales, FL 33853-3705
      View Details
    • Value Estimation by Request
      1,536 SF

      1540 Scenic Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 1,536 SF
      1540 Scenic Hwy, Lake Wales, FL 33853-3257
      View Details
    • Value Estimation
      $665,000
      7,500 SF

      38 Orange Ave

      STORES & APARTMENTS • 7,500 SF
      38 Orange Ave, Lake Wales, FL 33853-6111
      View Details
    • Value Estimation by Request
      9.53 Acres

      Miami St

      Land • 9.53 Acres
      0 Miami St, Lake Wales, FL 33853
      View Details
    • Value Estimation by Request
      0.25 Acres

      118 State Rd 60th Wus

      VACANT COMMERCIAL LAND • 0.25 Acres
      118 State Rd 60th Wus, Lake Wales, FL 33853-4409
      View Details
    • Value Estimation by Request
      0.64 Acres

      Hwy 60th W

      WASTE DISPOSAL, SEWAGE • 0.64 Acres
      Hwy 60th W, Lake Wales, FL 33853
      View Details

    Similar Nearby for Sale

    • $900,000
      7,350 SF

      Mixed-Use Buildings on Scenic Highway

      Two commercial buildings ideal for showroom, warehouse, or mixed-use.
      322 S Scenic Hwy, Lake Wales, FL 33853
      View Details
    • New
      $1,650,000
      8,480 SF

      Historic Mixed-Use Building in Lake Wales

      Historic mixed-use building with commercial suites and residential apartments.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • New
      $1,650,000
      8,480 SF

      Historic Mixed-Use Building in Downtown

      Mixed-use building with commercial suites and residential apartments in downtown.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • Contact for pricing
      0.50 Acres

      Lake Wales Commercial Land Outlot

      High-traffic location, 0.5-acre outlot.
      1970 State Road 60, Lake Wales, FL 33853
      View Details
    • $253,999

      Downtown Duplex with Spacious Yard

      Charming duplex in downtown Lake Wales with private amenities.
      405 N Wetmore St, Lake Wales, FL 33853
      View Details
    • $550,000

      Downtown Lake Wales Commercial Property

      Prime commercial property in downtown Lake Wales with mixed-use zoning.
      61 W Central Ave, Lake Wales, FL 33853
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      6,400 SF

      Downtown Lake Wales Mixed-Use Property

      Corner lot in growing business district, suitable for various uses.
      250 E Park Ave, Lake Wales, FL 33853
      View Details
    • $13 SF/Yr
      4,388 SF

      Historic Mixed-Use Building in Lake Wales

      Two-story mixed-use building with flexible space in downtown Lake Wales.
      247 E Stuart Ave, Lake Wales, FL 33853
      View Details
    • Contact for pricing

      Former Restaurant Building For Lease

      3,288 SF former restaurant building available for lease.
      Lake Wales, FL 33853
      View Details
    • $13 SF/Yr
      4,953 SF

      Versatile Retail Building in Lake Wales

      4,953 SF C2-zoned building suitable for diverse retail opportunities.
      1110 State Road 60 E, Lake Wales, FL 33853
      View Details
    • Contact for pricing
      3,288 SF

      Former Restaurant Building For Lease

      3,288 SF former restaurant building available for lease.
      612 State Road 60 W, Lake Wales, FL 33853
      View Details
    • $36,000

      Turnkey Medical/Dental Office Space

      Furnished medical/dental office in Lake Wales, ready for occupancy.
      490 4Th St S, Lake Wales, FL 33853
      View Details
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    251 E Park Ave
    Lake Wales, FL 33853
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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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