2421 State Road 60Lake Wales, FL 33898

Property Details for 2421 State Road 60

Year built

1967

Lot size

0.78 AC

Property size (Sq ft)

1,788 SF

Zone code

C-3

Property type

Bars

Property subtype

Pubs

APN

283006940200002030

APU

283006940200002030

Description

Seize this exceptional opportunity to acquire a thriving, established bar and grill in Lake Wales, Florida. This turnkey business, boasting 135 feet of prime Highway 60 frontage, sits on a 0.78-acre lot within the Linear Commercial Corridor (LCC), less than half a mile from Walmart. The property, built in 1967, includes a well-known and beloved restaurant with a loyal customer base cultivated over 31 years of operation. The sale includes all equipment, furnishings, and operating materials. The spacious property features ample parking and both indoor and outdoor seating, creating a relaxed atmosphere perfect for everyday dining or small events. The current owner is motivated and a leaseback option may be available. This presents a unique chance to capitalize on an existing successful business or to repurpose the property to suit a variety of other commercial ventures. The property's high-traffic location and established reputation offer significant potential for growth through strategies such as expanding hours, leveraging third-party delivery services, or developing a stronger online presence. Don't miss this rare opportunity to own a piece of Lake Wales' commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $768,178

  6.5%

  $709,087

  7%

  $658,438

• Comparable approach

  Method

  Valuation

  Relative Method

  $923,694

  Geo Method

  $707,540

• Alternative Use

  Use

  Valuation

  Residential

  $598,142

  Hospitality

  $547,894

  Educational

  $455,842

  Medical

  $471,519

  Retail

  $709,087

Location Insight

City

Lake Wales

County

Polk

State

Florida

Latitude

27.8947

Longitude

-81.5489

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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