Housed in a restored 1928 Atlantic Coast Line Railroad depot, the Lake Wales Museum & Cultural Center serves as the city's primary resource for the collection, conservation, exhibition, and study of materials relating to the history of Lake Wales.

The museum contains railroad memorabilia and a variety of historical items recalling the early days of Lake Wales, including photographs, newspapers, and items from the area's first industries.

The Depot Museum complex consists of four buildings along the Scenic Highway. The largest, which houses the main office and exhibit hall, is the large pink depot, which was built in 1928 and donated to the city by the Seaboard Coastline Railroad. A tin-roofed freight depot was built in 1916 and now houses the Lake Wales Model Railroad Club’s HO-scale model railroad layout of the East Coast, from the Carolinas to Central Florida. A white cottage that once served as the Woman’s Club was built in 1920. This is the children’s museum and the meeting place for the Girl Scouts. The fourth building is the Stuart-Dunn-Oliver Historic House Museum, a white bungalow built in 1920. It is furnished with period furniture.

Three railroad cars are located on the south side of the pink Depot. They include a renovated 1926 Seaboard Airline red caboose, a 1944 diesel engine and a 1916 Pullman car. The museum has various exhibits throughout the year, as well as examples of the award-winning art from the Lake Wales Art Show. A gift shop offers unique gifts at reasonable prices.

Located at 325 S. Scenic Hwy. (U.S. Alt. 27), the Depot Museum and Cultural Center is open from 9:00 a.m. to 5:00 p.m. Monday through Friday and on Saturday from 10:00 a.m. to 4:00 p.m. It is closed on Sunday and on national holidays.