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    OFF-MARKET
    Turn key restaurants

    740 State Rd 60th W, Lake Wales, FL 33853-2906

    3,006 SF 0.41 ac lot Built 1979
    Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US18-5484102
    Property summary
    AI-generated overview

    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
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1979
    Total area 3,006 SF
    Lot 0.41 ac (17,768 SF)
    Zoning code C-3
    APN 273003000000023010
    UPID US18-5484102
    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
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    Owner & transaction history
    Lake Wales-schippers LLC · 8 yrs held
    Lake Wales-schippers LLC
    since 2018
    1 recorded transaction
    2018
    $4.6M
    Zoning & alternative use
    C-3 · Lake Wales, FL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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