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Property profile & analytics
FOR SALE
Commercial land

550 E State Road 60 Lake Wales, FL 33853

32,844 SF 3.59 ac lot Built 1984
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US18-3777941
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1984
Total area 32,844 SF
Lot 3.59 ac (156,293 SF)
Zoning code C-3
APN 273003000000023020
UPID US18-3777941
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
AI Approach AI
$1.59M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.93M
Blend (final) Blend
$1.59M
Owner & transaction history
Huston Automotive Holdings INC · 1 yrs held
Huston Automotive Holdings INC
since 2025
Last sale
$1.5M
3 recorded transactions
2025
$1.5M
2001
$368,500
1969
Price N/A
Zoning & alternative use
C-3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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