550 E State Road 60 Lake Wales, FL 33853
For Sale
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This exceptional 4.3-acre commercial land parcel presents a prime development opportunity in Lake Wales, Florida. Located on State Road 60, it boasts 27,000 average daily vehicles and is near the intersection with US 27 (29,500 daily vehicles). The property is an outparcel to a Save-A-Lot anchored retail center, offering excellent visibility and accessibility. Zoned C-3 (Highway Commercial), permitted uses include restaurants, hotels, motels, professional offices, auto service stations, convenience stores, and retail stores. The site's future land use designation is Community Activity Center, further enhancing its development potential. Its strategic location is complemented by proximity to Lake Wales Municipal Airport (1.6 miles), Lake Wales Medical Center (2.7 miles), and the renowned Bok Tower Gardens (5.2 miles). Significant highway improvements at the US 27 and SR 60 interchange are underway, promising enhanced traffic flow and regional accessibility. The asking price is $1,500,000, representing a price per acre of $325,000. The property's APN is 273003000000023020. This is a rare opportunity to acquire a well-positioned commercial development site in a thriving Florida community.
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, FLLake Wales. Always verify with local authorities before improvements.
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.