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Property profile & analytics
OFF-MARKET
Estimated value
$13,285,000
Manufacturing properties
1230 Scenic Hwy, Lake Wales, FL 33853-3251
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-2228063
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2002
Total area
44,853 SF
Lot
17.09 ac (744,440 SF)
APN
272935000000032030
UPID
US18-2228063
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
-
Adventure Sims America Arcade & Gaming Center Family Recreation Center
-
Pamlico Air Industrial Manufacturer Production Facility
-
Mann+Hummel Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.61M
Blend (final)
Blend
$13.29M
Owner & transaction history
Spirit Realty LP · 2 yrs held
Spirit Realty LP
since 2023
Last sale
$12.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$20.7M
+198.5%
Medical building
$13.9M
+100.1%
Commercial (general)
$12.7M
+83.2%
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
$15,505,000
ML approach
$10,610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$20,705,000
Change: +199% · Conversion: Difficult
MEDICAL BUILDING
$13,875,000
Change: +100% · Conversion: Difficult
COMMERCIAL (GENERAL)
$12,705,000
Change: +83% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,920,000
Change: +57% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,220,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$13.29M
Range $11.96M – $14.61M · ±10% · vs last sale $12.35M (Oct 18 2023)
Last sale anchor
$12.35M
Oct 18 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
$296 / 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
$174,317
Tax year 2023
Assessed value
$8,976,684
Assessed 2023
Previous assessed
$8,976,684
+0.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$372,732
Assessed improvement
$8,603,952
Land market value
$372,732
Improvement market value
$8,603,952
Total market value
$8,976,684
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2002
Heating
NONE
Buildings
5
Stories
1
Units
1
Total area
44,853 SF
Lot
17.09 ac (744,440 SF)
APN
272935000000032030
UPID
US18-2228063
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
RESTAURANT
Est. value
$20.7M
MEDICAL BUILDING
Est. value
$13.9M
COMMERCIAL (GENERAL)
Est. value
$12.7M
AUTO REPAIR, GARAGE
Est. value
$10.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2002
Heating
NONE
Stories
1
Buildings
5
Units
1
Lot
17.09 ac
Current owner
From public records · entity-resolved
Spirit Realty LP
Entity
Mailing address
2727 N HARWOOD ST STE #300, DALLAS, TX 75201-2407
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2023
—
Spirit Realty LP
Rise Properties LLC
Quit Claim Deed
related
—
Oct 18, 2023
$12,352,800
Spirit Realty LP
Rise Properties LLC
Special Warranty Deed
—
May 11, 2021
—
Rise Properties LLC
—
Deed
related
$10,000 · Truist Bank
Nov 8, 2019
$4,200,000
Rise Properties LLC
Philip J Gardner
Trustees Deed
$3,825,000 · Branch Bk&tr
Dec 31, 2007
—
Philip J Gardner
—
Deed Of Trust
related
$30,000,000 · Pnc Bank
Jul 1, 2002
—
Philip J Gardner
—
Deed Of Trust
related
$3,000,000 · Merrill Lynch Business Finl Sv
—
—
Philip J Gardner
—
Deed Of Trust
related
$2,484,000 · National City Bank
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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