Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1233 Memorial Blvd Lakeland, FL 33815-0601
    Back to Search
    Property profile & analytics

    1233 Memorial Blvd, Lakeland, FL 33815-0601

    View on Map
    • Auto shops
    • 8,570 SF
    • 0.59 lot acres
    Off-Market
    Last Sale Oct 19, 2022
    $1,465,000
    Property ID
    US19-0500605
    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
    $1,560,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 1233 Memorial Blvd

    Year built
    1976
    Lot size
    0.59 lot acres
    Zone code
    C-2
    Property type
    Auto shops
    APN
    232811031000002010
    APU
    232811031000002010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 19, 2022 $1,465,000 Marion Of Lakeland LLC Elev8 Investments LLC Warranty Deed —
    Nov 14, 2019 $600,000 Elev8 Investments LLC Midway Assoctates Grant Deed $540k · Midway Associates
    Nov 12, 2014 $5,320 Midway Associates Petcoff Sally B Trust Grant Deed —
    Mar 18, 2014 — Petcoff,sally B Trust Petcoff,thomas S Quit Claim Deed · related —
    Jun 6, 2007 $500,000 Thomas S Petcoff Auto Body Paint Shops Trust Warranty Deed —
    Jun 9, 2004 — Auto Body Pain Shops Realty Tr Arp,david L & Catherine M Grant Deed · related —
    Aug 13, 2003 $320,000 Auto Body Paint Shops Realty Arp,david L & Catherine M Grant Deed $1.4M · Peninsula Bank
    — — Auto Body Paint Shops Realt — Deed Of Trust · related $232k · David L & Catherine M Arp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,685,000
      ML approach
      $1,625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $939,000
      Market price range: $422k - $986k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,120,000
      Current use
      COMMERCIAL (GENERAL)
      $2,215,000
      Change: +4% Conversion: Moderate
      MEDICAL BUILDING
      $2,105,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.975
    Latitude
    28.0553
    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
    $9,121
    $128,530
    $371,828
    $500,358
    -
    $128,530
    $371,828
    $500,358

    Comparable in this City

    • Value Estimation by Request
      4,446 SF

      831 Wabash Ave

      AUTO REPAIR, GARAGE
      831 Wabash Ave, Lakeland, FL 33815-1163
      View Details
    • Value Estimation by Request
      10,635 SF

      111 Parker St

      AUTO REPAIR, GARAGE
      111 Parker St, Lakeland, FL 33815-1637
      View Details
    • Value Estimation by Request
      5,600 SF

      1639 Memorial Blvd

      AUTO REPAIR, GARAGE
      1639 Memorial Blvd, Lakeland, FL 33815-1289
      View Details
    • Value Estimation by Request
      3,510 SF

      905 Memorial Blvd

      AUTO REPAIR, GARAGE
      905 Memorial Blvd, Lakeland, FL 33815-1326
      View Details
    • Value Estimation by Request
      3,173 SF

      2052 Olive St

      AUTO REPAIR, GARAGE
      2052 Olive St, Lakeland, FL 33815
      View Details
    • Value Estimation by Request
      2,730 SF

      109 Parker St

      AUTO REPAIR, GARAGE
      109 Parker St, Lakeland, FL 33815-1637
      View Details

    Similar Nearby for Sale

    • $560,000
      2,910 SF

      Lakeland Retail Space - High Visibility

      Prime location, 2,910 sq ft, 0.5-acre lot. High-traffic corner.
      Lakeland, FL 33815
      View Details
    • $560,000
      Pending

      Lakeland Retail Opportunity For Sale

      2,910 sq ft retail space on 0.45 acres.
      1605 W Memorial Blvd, Lakeland, FL 33815
      View Details
    • Contact for pricing
      2,600 SF

      Signalized Corner Retail Property

      0.92-acre corner property with high visibility and access.
      2425 W Memorial Blvd, Lakeland, FL 33815
      View Details
    • $55,000
      0.30 Acres

      Lakeland Land: Development Opportunity

      Two platted lots in Lakeland with multi-family zoning.
      916 Nashville Rd, Lakeland, FL 33815
      View Details
    • $65,000
      0.12 Acres

      Lakeland Land for Multifamily Development

      Two adjacent lots ideal for multifamily development in Lakeland, Florida.
      515 W Magnolia St, Lakeland, FL 33815
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lakeland Lakefront Class A Office

      Class A office building with flexible space and rooftop potential.
      20 Lake Wire Dr, Lakeland, FL 33815
      View Details
    • Contact for pricing

      Retail Space in Wabash Center

      Retail space available in Wabash Shopping Center in Lakeland, FL.
      125 N Wabash Ave, Lakeland, FL 33815
      View Details
    • Contact for pricing
      3,733 SF

      Office Space For Lease

      Well-maintained office complex with ample parking and high visibility.
      6790 New Tampa Hwy, Lakeland, FL 33815
      View Details
    • Contact for pricing
      22,500 SF

      Lakeland Warehouse Space Available

      Warehouse space for lease in Lakeland, Florida.
      700 Mccue Rd, Lakeland, FL 33815
      View Details
    • Contact for pricing
      Pending

      Lakeland Facility with Spacious Classrooms

      13,700 sq ft facility with 8 classrooms for lease.
      926 Quincy St, Lakeland, FL 33815
      View Details
    • Contact for pricing

      Well-Maintained Office Complex For Lease

      Office suites available in a well-maintained complex with ample parking.
      6810 New Tampa Hwy, Lakeland, FL 33815
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1233 Memorial Blvd
    Lakeland, FL 33815-0601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1233 Memorial Blvd, Lakeland, FL, 33815
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!