Commercial Sale · Mixed Use
1 W CENTRAL AVENUE, LAKE WALES, FL, 33853
Active22 days on marketListed Jul 15, 2026MLS #K4903636
About this property
The property at a glance
Position your business in the heart of Historic Downtown Lake Wales while enjoying the benefit of built-in investment income! Located on the prominent corner of Central Avenue and 1st Street, this approximately 4,100-square-foot multi-unit commercial building offers an exceptional opportunity for investors and owner-users alike. The property features three separate suites, with two suites currently under lease generating $2,250 per month in immediate rental income. Each suite has its own electric meter, providing convenience for both owners and tenants. The third suite is vacant and ready for your vision—perfect for an owner-occupied business, professional office, retail space, or an additional income-producing lease. One of this property’s standout features is its location—just one block from the iconic Walesbilt Hotel, where an extensive restoration is slated to begin this year. This highly anticipated redevelopment is expected to further energize Historic Downtown Lake Wales, making this an exciting opportunity to invest in an area positioned for continued growth and revitalization. As an added bonus, the property includes approximately 14 dedicated downtown parking spaces—a rare and highly desirable amenity that adds tremendous value for tenants, customers, and clients. Whether you’re looking to expand your investment portfolio, establish your business in a thriving downtown district, or capitalize on the flexibility of an income-producing property with owner-occupancy potential, this unique offering delivers approximately 4,100 square feet of opportunity in one of Lake Wales’ most desirable commercial locations.
4,135
Building sq ft
$115
Price / sq ft
0.22
Lot acres
1935
Year built
3
Units
1
Building
C-1
Zoning
Mixed Use
Property type
The numbers
Investment snapshot
$27,000
Gross income (yr)
$158,333
Price / unit
3
Units
Estimated payment (illustrative)
Estimated payment
$2,971/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask David to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
174
Population
33
Median age
3
Avg household
$98,300
Median home value
$998/mo
Median rent
20%
Households w/ kids
Consumer profile
Politically aware, this population is interested in civic issues on both the local and national level. They often discuss candidates for office, taxes, and political ideologies.
Who says the body isn't a canvas? This population loves talking about tattoos, body art and piercings.
Passionate about all things hair, this population is talking about hair tutorials or the hottest celebrity blowout.
Thirst isn't the only reason this population looks for a good brew. From beer drinkers on a budget to the millennial craft beer enthusiast, these men and women are passionate about different kinds of beer and how it's made.
Making it to church on Sunday, this population is drawn together by their devotion to, primarily Christian, religion. Common activities include worship services and bible studies.
You can find these people researching an upcoming exhibit at the natural history museum or learning about a famous monument. This population enjoys learning about the past.
Recent sales
What actually sold near 1 W CENTRAL AVENUE
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$320,000
247 E STUART AVENUE
4,388 sqft · $73/sqft · Sold Oct 4, 2024
$257,500
218 E ORANGE AVENUE
2,610 sqft · $99/sqft · Sold May 23, 2025
$330,000
299 E STUART AVENUE
2,283 sqft · $145/sqft · Sold Dec 15, 2025
Your team
The pros in your corner
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, offers, and every question about 1 W CENTRAL AVENUE — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 1 W CENTRAL AVENUE.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Keep looking
Similar properties nearby
Listing courtesy of LEGACY REAL ESTATE CENTER INC · Dolores Vogel. MLS #K4903636.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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