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$1,650,000

Active

244 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 listing’s 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

How would you like to see it?
Which day?
What time of day?

In person Β· Thu, Oct 29 Β· Morning (9-12)

No account, no obligation. Prefer to talk? (941) 474-5585

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.

Similar properties

Listing information is provided in part by Stellar MLS, as distributed by MLS GRID. Based on information submitted to the MLS as of Oct 28, 2026, 8:22 PM (ET). All data is obtained from various sources and may not have been verified by broker or MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. 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. Some IDX listings have been excluded from this website.

Lasbury Tracy Realty Inc. Β· [email protected]