Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Old Scenic Hwy Lake Wales, FL 33898
    Property profile & analytics

    Old Scenic Hwy, Lake Wales, FL 33898

    View on Map
    • Specialty properties
    • 8.96 lot acres
    Off-Market
    Property ID
    US18-7241795
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for Old Scenic Hwy

    Lot size
    8.96 lot acres
    Property type
    Specialty properties
    APN
    272922866300040010
    APU
    272922866300040010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 31, 2008 $126,300 Green Horizon Land Trust INC SR Estate LLC Series Mtn Lake Warranty Deed —
    Oct 24, 2007 — Record Owner Colburn,frances H Grant Deed · related —
    Mar 10, 1999 $40,000 Frances M Colburn Miss Hazel Citrus INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.5794
    Latitude
    27.9219
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $62,683
    $0.00
    $62,683
    -
    $62,683
    $0.00
    $62,683

    Comparable in this City

    • Value Estimation by Request
      6.73 Acres

      10721 Leisure Ln

      Churches & religious facilities
      10721 Leisure Ln, Lake Wales, FL 33898
      View Details
    • Value Estimation by Request
      6.89 Acres

      3900 Great Masterpiece Rd

      CHARITABLE ORGANIZATION
      3900 Great Masterpiece Rd, Lake Wales, FL 33898-8659
      View Details
    • Value Estimation by Request
      8.76 Acres

      Mammoth Grv Rd

      CHARITABLE ORGANIZATION
      Mammoth Grv Rd, Lake Wales, FL 33898
      View Details
    • Value Estimation by Request
      8.62 Acres

      Tower Blvd

      CHARITABLE ORGANIZATION
      Tower Blvd, Lake Wales, FL 33898
      View Details
    • Value Estimation by Request
      6.95 Acres

      Tower Blvd

      CHARITABLE ORGANIZATION
      Tower Blvd, Lake Wales, FL 33898
      View Details
    • Value Estimation by Request
      15.00 Acres

      2700 Drift In St

      Land
      2700 Drift In St, Lake Wales, FL 33898
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,460 SF

      Polk County Development Opportunity

      6.73 acres in Unincorporated Polk County near Lake Weohyakapka.
      10721 Leisure Ln E, Lake Wales, FL 33898
      View Details
    • $694,700

      Former Church on Large Acreage

      6.73 acres in Unincorporated Polk County near Lake Weohyakapka.
      10721 Leisure Ln East, Lake Wales, FL 33898
      View Details
    • Contact for pricing
      7,378 SF

      Waterfront Property with Business Opportunities

      Unique waterfront property with multiple established business units and income potential.
      10730 Camp Mack Rd, Lake Wales, FL 33898
      View Details
    • $49,000
      1.25 Acres

      Unimproved Land in Lake Wales

      1.25 acres of unimproved land available in Lake Wales, Florida.
      Hwy. 60 EAST, Lake Wales, FL 33898
      View Details
    • $219,900
      5.14 Acres

      Cleared Land with Two Ponds

      5.14 acres of cleared land featuring two private ponds.
      Highway 60 E, Lake Wales, FL 33898
      View Details
    • $199,500
      5.11 Acres

      Citrus Grove Land in Lake Wales

      5.11 acre citrus grove with well near Lake Iris.
      Gilbert Rd, Lake Wales, FL 33898
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      510 SF

      Retail Pad on SR-60

      Retail pad site available for ground lease or build-to-suit.
      2231 State Road 60 E, Lake Wales, FL 33898
      View Details
    • Contact for pricing

      Lake Wales Warehouse with Storage

      108,984 SF warehouse with cold storage and yard.
      2404 Hunt Brothers Rd, Lake Wales, FL 33898
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Available For Lease

      2,400 square feet of retail space for lease.
      2004 State Road 60 E, Lake Wales, FL 33898
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Old Scenic Hwy
    Lake Wales, FL 33898
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Old Scenic Hwy, Lake Wales, FL, 33898
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!