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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Schools
1099 State Rd 60th E Lake Wales, FL 33853-4208
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-6321377
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1994
Total area
8,450 SF
Lot
1.41 ac (61,332 SF)
APN
273001000000022020
UPID
US18-6321377
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
-
Lake Wales Arts Council Theater & Performing Art Venue
-
Lake Wales Arts Center Theater & Performing Art Venue
-
Taco Riendo Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.23M
Owner & transaction history
Lake Wales Arts Council INC · 8 yrs held
Lake Wales Arts Council INC
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.6M
+12.2%
Office building
$1.4M
+1.5%
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 Lake Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Wales 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$1,380,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,550,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$1,400,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10%
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
$146 / 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
Assessed value
$1,768,703
Assessed 2023
Previous assessed
$1,737,983
+1.8% YoY
Assessed land
$567,127
Assessed improvement
$1,201,576
Land market value
$567,127
Improvement market value
$1,201,576
Total market value
$1,768,703
Applied tax rate
90,320.0000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Units
1
Total area
8,450 SF
Lot
1.41 ac (61,332 SF)
APN
273001000000022020
UPID
US18-6321377
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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1994
Heating
NONE
Stories
1
Units
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
Lake Wales Arts Council INC
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 608, LAKE WALES, FL 33859-0608
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
—
Lake Wales Arts Council INC
—
Deed
related
$160,000 · Citizens Bank & Trust
Jan 22, 2018
—
Lake Wales Arts Council INC
Polk State College
Grant Deed
related
—
Jan 10, 2012
—
District Board Of Tes/polk St Col
Lake Wales Arts Council INC
Grant Deed
related
—
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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