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    10705 Us Hwy 98th N Lakeland, FL 33809-1087
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    Property profile & analytics

    10705 Us Hwy 98th N, Lakeland, FL 33809-1087

    View on Map
    • Grocery and convenience stores
    • 4,760 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Nov 13, 2020
    $900,000
    Property ID
    US18-4371897
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    5.9%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Amazon Locker - Metrological / Postal Service / Courier Service
    • Top King Food Mart / Grocery & Convenience Store
    • D&T AirConditioningINC / Hardware & Home Improvement / HVAC Service
    • Shell - Top King Food Mart / Grocery & Convenience Store
    • Gurmans Group Co / Mobile Phone Store / (Bike/Boat/Book/etc) Store

    Property Details for 10705 Us Hwy 98th N

    Year built
    1989
    Lot size
    1.00 lot acres
    Zone code
    C-3
    Property type
    Grocery and convenience stores
    APN
    232627000000032080
    APU
    232627000000032080

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 13, 2020 $900,000 Monica Investment Group INC Sita Ents INC Warranty Deed —
    Apr 2, 2020 — Sita Ents INC — Deed · related $700k · Central Bk
    Dec 5, 2007 — Sita Ents INC — Trustees Deed · related $1.9M · First Community Bank America
    Oct 2, 1998 $792,000 Ava Anthony INC Presto Food Store INC Grant Deed $7.8M · Enterprise Mortgage Acceptance
    — — Sita Ents INC — Deed Of Trust · related $300k · First Community Bank America
    — — Sita Ents INC — Deed Of Trust · related $700k · Central Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,055,000
      ML approach
      $1,025,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,030,000
      6.5%
      $950,000
      7%
      $885,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,007,000
      Market price range: $577k - $1.90M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $870,000
      Current use
      COMMERCIAL (GENERAL)
      $1,230,000
      Change: +41% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,180,000
      Change: +35% Conversion: Difficult
      MEDICAL BUILDING
      $1,170,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $1,110,000
      Change: +27% Conversion: Moderate
      RETAIL STORES
      $885,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -82.0007
    Latitude
    28.1936
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,375
    $165,703
    $198,461
    $364,164
    -
    $165,703
    $198,461
    $364,164

    Comparable in this City

    • Value Estimation
      $1,000,000
      5,032 SF

      3437 Us Hwy 98th N

      CONVENIENCE STORE
      3437 Us Hwy 98th N, Lakeland, FL 33809-3804
      View Details
    • Value Estimation
      $1,235,000
      9,755 SF

      8324 Us Hwy 98th N

      CONVENIENCE STORE
      8324 Us Hwy 98th N, Lakeland, FL 33809-4820
      View Details
    • Value Estimation
      $1,110,000
      2,940 SF

      5870 Us Hwy 98th N

      CONVENIENCE STORE
      5870 Us Hwy 98th N, Lakeland, FL 33809-3110
      View Details
    • Value Estimation by Request
      3,698 SF

      615 Daughtery Rd

      CONVENIENCE STORE
      615 Daughtery Rd, Lakeland, FL 33809-3320
      View Details
    • Value Estimation by Request
      3,000 SF

      4718 Us Hwy 98th N

      CONVENIENCE STORE
      4718 Us Hwy 98th N, Lakeland, FL 33809-3605
      View Details
    • Value Estimation
      $660,000
      4,500 SF

      1026 Walt Williams Rd

      CONVENIENCE STORE
      1026 Walt Williams Rd, Lakeland, FL 33809-2358
      View Details

    Similar Nearby for Sale

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      Lakeland Retail Space For Sale

      Expansive retail space in Lakeland Square Mall, Lakeland, Florida.
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      104,892 SF

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      Spacious retail property in Lakeland's key commercial corridor.
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      8,239 SF

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      Retail property with national tenants and below market rents.
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    • $349,900
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      Prime Corner Land in Lakeland

      2+ acre corner lot near I-4 with high visibility.
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    • $275,000
      6.02 Acres

      6.02 Acres with Active Permits

      Land with partially built home and active permits in Lakeland.
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    • $575,000

      Lakeland Land on US Highway

      1.61 acre commercial lot with high traffic exposure.
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    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Space Near Lakeland Square

      Retail space available across from Lakeland Square Mall.
      4215-4275 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing
      11,548 SF

      Retail Space on US Hwy

      Retail space with excellent visibility and access on US Hwy.
      4901-4993 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing

      High Visibility Lakeland Power Center

      Retail spaces and outparcels available in high-traffic Lakeland location.
      3715 Hopewell Ave, Lakeland, FL 33809
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    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Lakeland, Florida.
      4901-4997 Us Highway 98 North, Lakeland, FL 33809
      View Details
    • Contact for pricing
      85,253 SF

      Liberty Square Center Outparcels

      Lakeland Retail Center - Outparcels Available
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    • Contact for pricing

      Publix-Anchored Retail Center For Rent

      Retail space in a redeveloped, highly visible, Publix-anchored center.
      6767 Us Highway 98 N, Lakeland, FL 33809
      View Details
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    Lakeland, FL 33809-1087
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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