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Property profile & analytics
FOR SALE
Turn key restaurants
1046 Martin L King Jr Ave Lakeland, FL 33805
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3271303
For Sale
1 / 82
$400,000
1046 Martin L King Jr Ave, Lakeland, FL 33805
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1986
Total area
2,372 SF
Lot
0.3 ac (13,046 SF)
APN
232812056500001013
UPID
US18-3271303
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
-
Uncle Apps Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lorenzo Ruiz · 1 yrs held
Lorenzo Ruiz
since 2025
Last sale
$360,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,823
Tax year 2023
Assessed value
$99,976
Assessed 2023
Previous assessed
$59,103
+69.2% YoY
Effective rate
1.82%
On assessed value
Assessed land
$9,783
Assessed improvement
$90,193
Land market value
$9,783
Improvement market value
$90,193
Total market value
$99,976
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1986
Heating
NONE
Stories
1
Units
1
Total area
2,372 SF
Lot
0.3 ac (13,046 SF)
APN
232812056500001013
UPID
US18-3271303
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
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Stories
1
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Lorenzo Ruiz
Individual
Mailing address
3231 CLEVELAND HTS BLVD, LAKELAND, FL 33803-4567
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2025
—
Lorenzo Ruiz
Central Fl Property Managers LLC
Deed
related
—
May 20, 2025
$360,000
Lorenzo Ruiz
Central Fl Property Managers LLC
Warranty Deed
—
Jan 19, 2018
—
Kimberly M Swiatek
—
Deed
related
$175,000 · 1st Fin'l Group/broward LLC
Feb 15, 2012
$47,000
Planned Investments LLC
Brothers Barbecue INC
Warranty Deed
$35,000 · People Ware INC
—
—
Swiatek,kimberly M|planned Investments LLC
—
Deed Of Trust
related
$175,000 · First Financial Group Of Browa
—
—
Kimberly M Swiatek
—
Loan Modification
related
$175,000 · 1st Fin'l Group/broward LLC
—
—
Brothers Barbecue INC
—
Deed Of Trust
related
$14,845 · Hardin & Associates Pa
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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