Individually Owned Property summary
This exceptional investment opportunity in Lake Wales, Florida, presents a unique blend of historical charm and modern commercial potential. Priced at $300,000, this property comprises two buildings totaling 3,010 square feet on a 0.59-acre lot (APN: 272909000000014060). Built in 1948, the property includes a church building featuring a sanctuary, offices, kitchen, and restrooms, situated adjacent to a retail structure. The retail space offers an open layout, ideal for renovation and customization to suit a variety of uses. The property benefits from high visibility and convenient access, located on Waverly Road in Polk County (zip code 33859), with excellent proximity to major roadways including US Hwy 27, US 17, and I-4. The zoning is XX. This mixed-use property presents a strong investment opportunity for those seeking to capitalize on the growth of Lake Wales. The property's versatility allows for various uses, including but not limited to a daycare center, restaurant, or office space. The two buildings are single-story structures. This is a two-unit property. The price per square foot is $99.67.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The purpose of R-3 zone is for designation of developed multi family neighborhoods and to permit higher density residential development, consisting of single family, two family and multiple family dwellings, on infill lo…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
R-3 · Lake Wales, FLThe purpose of R-3 zone is for designation of developed multi family neighborhoods and to permit higher density residential development, consisting of single family, two family and multiple family dwellings, on infill lo…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The purpose of R-3 zone is for designation of developed multi family neighborhoods and to permit higher density residential development, consisting of single family, two family and multiple family dwellings, on infill lo…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R-3 in Lake Wales, FL.
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