$290,000
Active · 0 days on market · MLS# MFRO6381518
| Living area | 2,504 sq ft |
|---|---|
| Lot size | 0.08 acres |
| Year built | 1973 |
| Property type | Mixed Use |
| Waterfront | Yes |
| Annual taxes | $1,652 |
| County | Polk |
Prime mixed-use value-add opportunity in the heart of downtown Lake Wales at 215 Lincoln Ave. This two-story concrete block building presents a rare redevelopment play in a designated growth corridor with strong upside potential. The upper level features two (2) 1-bedroom / 1-bathroom apartments, offering future residential income once renovated. The ground floor previously operated as a restaurant, providing an open layout ideal for retail, café, professional office, creative space, or food & beverage re-establishment (buyer to verify permitted uses and zoning). The property has been gutted and is renovation-ready, allowing investors to fully customize the layout and finishes. Existing slab foundation, concrete block construction, and visible plumbing/electrical infrastructure create a solid framework for repositioning. Strategically located along a walkable downtown streetscape with sidewalks, decorative lighting, and surrounding commercial activity, enhancing visibility and long-term tenant demand. Major Incentive Advantage: Property is located within the eligible area for the Lake Wales CRA Business Incentive Program, offering potential grants and redevelopment incentives to qualified buyers (buyer to verify eligibility, requirements, and funding availability with the CRA). Bonus Opportunity: Seller also owns the adjacent side lot, available for purchase separately, ideal for expansion, parking, patio/outdoor seating, or future development. Ideal for investors, developers, or owner-users seeking a repositioning project with residential income above and commercial potential below in a revitalizing downtown market. Sold AS-IS. Cash or renovation financing preferred.
Listing courtesy of Vonteria Williams, EXP REALTY LLC. Presented by MC Homes Realty Inc · 727432218.