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Property profile & analytics
OFF-MARKET
Estimated value
$13,315,000
Assisted living facilities
1010 Carpenters Way Lakeland, FL 33809-3926
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-4823838
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1999
Total area
64,108 SF
Lot
5.48 ac (238,796 SF)
APN
232725009000006004
UPID
US18-4823838
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bridget Norregaard Physician
-
Bedrock Rehabilitation & Nursing Center at Wedgewood Rehabilitation Center Medical Center
-
Martha H. Hubbard, OTR Physician
-
Catina Mercer Physician
-
Pam Davila Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.28M
Blend (final)
Blend
$13.32M
Owner & transaction history
Carpenters Way Fl Owner LLC · 2 yrs held
Carpenters Way Fl Owner LLC
since 2023
Last sale
$14.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$15.1M
+90.6%
Commercial (general)
$14.4M
+82.0%
Restaurant
$10.1M
+27.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lakeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$17,020,000
ML approach
$11,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$15,095,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,415,000
Change: +82% · Conversion: Difficult
RESTAURANT
$10,060,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,360,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$13.32M
Range $11.98M – $14.65M · ±10% · vs last sale $14.09M (Sep 15 2023)
Last sale anchor
$14.09M
Sep 15 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$208 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$169,295
Tax year 2023
Assessed value
$9,286,725
Assessed 2023
Previous assessed
$8,773,489
+5.8% YoY
Effective rate
1.82%
On assessed value
Assessed land
$369,999
Assessed improvement
$8,916,726
Land market value
$369,999
Improvement market value
$8,916,726
Total market value
$9,286,725
Applied tax rate
91,510.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Units
1
Total area
64,108 SF
Lot
5.48 ac (238,796 SF)
APN
232725009000006004
UPID
US18-4823838
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$15.1M
COMMERCIAL (GENERAL)
Est. value
$14.4M
RESTAURANT
Est. value
$10.1M
INDUSTRIAL (GENERAL)
Est. value
$8.4M
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Stories
1
Units
1
Lot
5.48 ac
Current owner
From public records · entity-resolved
Carpenters Way Fl Owner LLC
Entity
Mailing address
885 3RD AVE, NEW YORK, NY 10022-4834
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2023
$14,089,908
Carpenters Way Fl Owner LLC
Fc Encore Lakeland LLC
Special Warranty Deed
—
Jul 28, 2016
—
Fc Encore Lakeland LLC
—
Deed
related
$15,049,000 · Keybank USA
Jul 26, 2016
—
Fc Encore Lakeland LLC
Fc Encore Core Properties LLC
Quit Claim Deed
related
$15,049,000 · Keybank USA
Oct 11, 2006
—
Formation Portfolio I LLC
Formation Properties I LLC
Quit Claim Deed
related
—
Sep 28, 2006
—
Epsilon Health Care Properties
Formation Portfolio I LLC
Grant Deed
related
—
Jan 14, 2002
$3,827,100
Formation Properties I LLC
Bmo Global Capital Solutions I
Grant Deed
—
—
—
Fc Encore Core Properties LLC
—
Deed Of Trust
related
$479,000,000 · Keybank USA
—
—
Lve Master Tenant 4 LLC
—
Deed Of Trust
related
$15,049,000 · Keybank USA
—
—
Fc Encore Lakeland LLC
—
Loan Modification
related
$15,049,000 · Keybank USA
—
—
Fc Encore Lakeland LLC
—
Loan Modification
related
$15,049,000 · Keybank USA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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