$1,650,000
Active244 E Park Ave, Lake Wales, FL 33853
8,480 sq ft
Listing courtesy of LEGACY REAL ESTATE CENTER INC Β· MLS# K4903016
467 days on market
Refreshed from the Stellar MLS feed . This listingβs MLS record last changed .
About this property
Truly rare opportunity to own a piece of Lake Wales History and the painstaking task of historic preservation has already been done! Built in 1915, the J.T. Rhodes Building was one of the first two brick-and-mortar buildings in Lake Wales. The City owes its origin to the building, where the villagers gathered upstairs in what was then the Masonic Hall on the night of April 27, 1917 to sign a petition to the Legislature for the issuance of a city charter. The Legislature responded by incorporating the City, whose charter was signed into law by Governor Sidney J. Catts on May 28, 1917. This amazing piece of architecture is home to one of the few mixed-use buildings in downtown. Downstairs are 2 commercial suites, with long term tenants in place! Upstairs you will find 4 well-appointed and thoughtfully designed apartments! All of the apartments have in unit laundry, modern kitchens with all new appliances, original hardwood flooring, timeless baths, spacious rooms and high ceilings... all while maintaining the historic character & charm! The completion of this building is perfectly timed with the revitalization of downtown Lake Wales, the property is positioned at the heart of the city's walkable new streetscape - complete with brick paved streets, lush park-like settings and a growing calendar of community events! The City is in the process of designating downtown Lake Wales an Arts, Cultural & Entertainment (ACE) District which will provide an environment welcoming growth and promoting prosperity! The investment in this renovation and historic preservation is unmatched, with no detail overlooked. The goal was to preserve this piece of history for the next 100 years and every decision was made with that long term vision.... An invaluable gift to the person lucky enough to be the new owner, entrusted with the legacy of the J. T. Rhodes building!
Facts
- Property type
- Multi-Family 5+
- Year built
- 1915
- Flood zone
- X
- Annual taxes
- $8,697/yr
- Listed
- Jul 16, 2025
- MLS #
- K4903016
Commercial details
Building & site
- Building size
- 8,480 SF
- Office / retail space
- 3,337 SF
- Lot size
- 0.12 acres (5,401 SF)
- Zoning
- C-1
- Road frontage
- Business District, City Street
- Buildings
- 1
Investor metrics
- Price per SF (MLS)
- $194.58/SF
- Net operating income
- $139,122/yr
- Units
- 6
As reported by the listing broker in the MLS. Not verified by Lasbury-Tracy Realty β confirm with the listing broker before relying on them. We never estimate a cap rate.
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244 E Park Ave, Lake Wales, FL 33853
Listing courtesy of LEGACY REAL ESTATE CENTER INC Β· MLS# K4903016 Β· Active
Where this property is
Opens on aerial β on this coast the canal, the lot and the neighbours answer more questions than a street grid does.


