318 S 1st St, Lake Wales, FL, 33853
About This Home
GREAT LOCATION! NEW ROOF 2025! SELLER FINANCING 20% DOWN! OFFICE/RESIDENTIAL OPTION! The property is zoned commercial and offers the option to convert the rear portion into a 1-bedroom residential unit (featuring a separate electric meter) ideal for mixed-use commercial and residential flexibility. Exceptional Commercial Property, OFFICE WITH PRIVATE PARKING in the Heart of Downtown Lake Wales! This beautifully maintained 1,336 Sq Ft office building offers the perfect blend of charm, functionality, and unbeatable location. Nestled near shops, restaurants, and major highways, this versatile property is ideal for a boutique, childcare center, wellness spa, medical services, or professional office. With a welcoming reception area, spacious kitchen, bathroom with shower, high-speed fiber optic internet, and ADA-compliant features including a handicap ramp and railings, it's designed for success. The property includes private parking for up to 5 vehicles, excellent street visibility, and convenient access with a turn lane. Set on a 6,251 Sq Ft lot, this move-in-ready gem is your chance to secure a prime location for your business or investment portfolio in a thriving downtown area. Seller financing and private financing available. Seller financing available with 20% down payment, 10% interest, 10 year term, no prepayment penalty. Don't wait-schedule your private tour today and bring your vision to life! Seller financing available.
Getting Around
Somewhat Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1938
Materials
- Roof: Asphalt
- Construction materials: Masonry - Concrete Block,Stucco Siding,Vinyl Siding,Wood Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Other
- Property subType: Single Family Residence
Interior
Basement
- Area: 0
Basement
- Has basement: Yes
- Basement: Crawl,No Access
Bedrooms & Bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Features
- Flooring: Hardwood,Tile
- Finished area above ground: 1,336
Heating & Cooling
- Heating features: Electric,Other
- Cooling features: Central
Interior Area
- Total structure area: 1,336
- Total interior livable area: 1,336 sqft
Kitchen
- Features: Open,Other Counters
Property
Details
- Parcel number: 273002903500007102
- Lease amount: 0
Features
- Stories: 1
- Has view: Yes
- View description: Street
Lot
- Lot size: 1,336 sqft
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Strong Wind
- Hurricane
- Lightning
- Inland Flooding
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters in Polk County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,516 | $18,192 |
| Home Insurance * | $331 | $3,972 |
| Property Taxes | $182 | $2,184 |
| Electricity | $197 | $2,366 |
| Total | $2,226 | $26,712 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-03 | Listed for sale | $299,900 |
View on Zillow