LAKE WALES, FL 33859 16905 HWY 27

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Presented By: COLDWELL BANKER REALTY with 863-294-7541. - 863-294-7541
  • MLS# L4946852
  • 08/16/2024
  • Request Tour
  • Request Info
  • SQFT • 8,500

Home Details

Prime Income-Producing Property with tremendous Growth Potential in Lake Wales, Florida. Seize this extremely rare opportunity to invest in a commercially zoned BP property within the city limits of Lake Wales, Florida—a city on the brink of significant growth. This income-producing asset boasts 9 fully leased hotel units, a 3-bedroom Inn keepers' home, and a commercial restaurant with banquet hall. In addition, there are two efficiency units to be completed and also, the possibility to rebuild 10 rooms that were demolished after a fire. All this will significantly increase income potential. The property offers a fully functional commercial kitchen, with an oversized dining room/banquet hall and fully equipped bar as well. The space is perfect for a restaurant, banquet hall, or event space. The kitchen has operated as a successful Jamaican restaurant for three years and was recently closed by the owner, due to prevailing family issues. (kitchen equipment to be negotiated upon sale of the property). With all its features, the property's' income potential is incredibly enhanced and provides a versatile venue for a variety of business ventures. Situated on a spacious 2.33-acre parcel, this property not only generates immediate revenue but also presents a golden opportunity for future expansion of the Highway 27 corridor. Given the predicted growth trajectory of Lake Wales, this land is perfectly poised for the development of a future hotel, tapping into the increasing demand for hospitality services in the area. Position your investment for the future in one of Central Florida’s emerging markets. All leases on the property are month to month. Seller is diligently working on leasing the remaining units & restaurant & lounge, to get the property operating at full income potential. 11 hotel rooms, 1 single family home, and commercial restaurant total to be rented (January 2025 restaurant is currently rented month to month). Call today for details and your private showing.
Presented By: COLDWELL BANKER REALTY with 863-294-7541. - 863-294-7541

Interior Features for 16905 HWY 27

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NYes
Heating Y/NYes
Total Stories1

General for 16905 HWY 27

Additional Parcels Y/NNo
Building Area Unitssquare feet
Building Featuresbathrooms, kitchen facility
Citylake wales
Construction Materialsblock
Coolinga/c - office only, wall/window unit(s)
Countypolk
Directionstake highway 27 south from highway 60 and the property will be down on your left.
DockY/NNo
Flood Zone Codex
Flood Zone Code XY
HOANo
Heatingcentral
Legal Descriptions1/2 of se1/4 of se1/4 of sw1/4 lying e of hwy less r/w for us 27
Listing Termscash, conventional
Living Area Unitssquare feet
Lot Size Square Feet101556
Lot Size Unitsacres
MLS Area33859 - lake wales
ModificationTimestamp2025-01-29t22:16:14.817z
New ConstructionNo
Ownershipother
Property Conditioncompleted
Property Subtypehotel/motel
Property Typecommercial sale
Roofshingle, tile
Standard Statusactive
Statusactive
Tax Annual Amount4631.82
Tax Year2023
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Waterfront Y/NNo
Year Built1954

Exterior for 16905 HWY 27

Building Area Total8500
Foundation Detailsslab
Lot Dimensions334 x 330
Lot Size Acres2.33
Lot Size Area2.3314
Number of Buildings4
Road Frontage Typedivided highway
Road Surface Typeasphalt
Vegetationfruit trees

Additional Details

Price History

Andre LaFountain

Realtor / Coach
Price $1,500,000
MLS#L4946852
List Date 08/16/2024
Property Type Commercial
Phone 518.569.7173
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Request Info
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Location
  • Babcock Ranch