Property summary
This exceptional 3,006-square-foot vacant restaurant building presents a prime investment opportunity in Lake Wales, Florida. Situated on a 0.41-acre lot at 740 State Road 60, this single-story property boasts a prominent location with direct frontage along a major thoroughfare. Built in 1979, the property benefits from its position in the Lake Wales Plaza, an outparcel to a Save-A-Lot anchored plaza, enjoying a strong anchor tenant history since 1998. The high visibility location offers excellent access and ample parking, further enhanced by its proximity to the US 27 ramp, a high-traffic area with an Annual Average Daily Traffic (AADT) of 42,500 vehicles. State Road 60 itself sees an AADT of 28,000 vehicles, ensuring consistent exposure to potential customers. The asking price is $595,000, translating to $197.94 per square foot. The property's Parcel Number (APN) is 273003000000023010. This is a rare chance to acquire a well-positioned restaurant space in a thriving commercial area. The property is currently vacant, offering flexibility for a variety of restaurant concepts. Don't miss this opportunity to establish your business in a high-traffic location with strong visibility and established infrastructure.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 profession…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-3 · Lake Wales, FLThe 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 profession…
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 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 profession…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-3 in Lake Wales, FL.
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