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Property profile & analytics
OFF-MARKET
Estimated value
$2,870,000
Medical Office Space
1205 Magnolia St 101 Lakeland, FL 33801-2120
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-4520066
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1966
Total area
7,250 SF
Lot
0.6 ac (26,267 SF)
Zoning code
I-1
APN
242817191000006190
UPID
US18-4520066
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
-
CFI Lakeland Medical Clinic
-
Complete Care Diagnostic Imaging - Lakeland Medical Clinic
-
Safecare Docs Dental Office Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.87M
Owner & transaction history
Charles M Ostro · 1 yrs held
Charles M Ostro
since 2024
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
I-1 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Industrial
General category
INDUSTRIAL
Zone area
516.69 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.2M
+133.3%
Industrial (general)
$4.0M
+124.1%
Auto repair, garage
$1.8M
+0.7%
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
$2,870,000
ML approach
$2,870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,780,000
Current use
RESTAURANT
$4,155,000
Change: +133% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,990,000
Change: +124% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,795,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.87M
Range $2.58M – $3.16M · ±10% · vs last sale $2.87M (Nov 13 2024)
Last sale anchor
$2.87M
Nov 13 2024
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
$396 / 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
$6,689
Tax year 2023
Assessed value
$366,931
Assessed 2023
Previous assessed
$369,987
-0.8% YoY
Effective rate
1.82%
On assessed value
Assessed land
$99,811
Assessed improvement
$267,120
Land market value
$99,811
Improvement market value
$267,120
Total market value
$366,931
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1966
Heating
NONE
Stories
1
Units
1
Total area
7,250 SF
Lot
0.6 ac (26,267 SF)
Zoning code
I-1
APN
242817191000006190
UPID
US18-4520066
Jurisdiction
POLK
Zoning & alternative use
I-1 · Lakeland, FLZoning I-1 · permitted uses
I-1 · Lakeland, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Industrial
General category
INDUSTRIAL
Zone area
516.69 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.8M
RESTAURANT
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING Current
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1966
Heating
NONE
Stories
1
Units
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Charles M Ostro
Individual
Mailing address
6347 NW 72ND WAY, PARKLAND, FL 33067-1274
Ownership since
2024
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
Nov 13, 2024
$2,870,000
Charles M Ostro
Drg Magnolia Property LLC
Special Warranty Deed
$1,350,000 · Bay Commercial Bank
Mar 18, 2022
$2,330,200
Drg Magnolia Property LLC
1205 E Magnolia LLC
Special Warranty Deed
$1,746,500 · Anchor Bank
Jul 21, 2020
$1,415,400
1205 E Magnolia LLC
Ipm Properties LLC
Warranty Deed
$1,415,377 · Regions Bk
Jun 13, 2017
$1,750,000
Ipm Properties LLC
Esperance Holdings LLC
Grant Deed
—
Sep 7, 2016
—
Esperance Holdings LLC
—
Deed
related
$1,111,500 · Centennial Bk
Aug 10, 2016
$275,000
Esperance Holdings LLC
Sera-tec Properties LLC
Grant Deed
related
—
—
—
Esperance Holdings LLC
—
Deed Of Trust
related
$1,111,500 · Centennial Bk
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
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