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Property profile & analytics
OFF-MARKET
Estimated value
$3,020,000
Retail space
1322 State Rd 60th E Lake Wales, FL 33853-4322
Entity Owned
20-yr Hold
Free & Clear
Property ID
US18-3617968
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Total area
26,104 SF
Lot
16.66 ac (725,884 SF)
Zoning code
C-
APN
283007000000033070
UPID
US18-3617968
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.70M
Blend (final)
Blend
$3.02M
Owner & transaction history
Orange Grove Associates LLC · 20 yrs held
Orange Grove Associates LLC
since 2005
3 recorded transactions
Zoning & alternative use
C- · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.8M
+158.2%
Office building
$4.3M
+133.6%
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
RETAIL STORES
$1,855,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,785,000
Change: +158% · Conversion: Moderate
OFFICE BUILDING
$4,330,000
Change: +134% · Conversion: Easy
Blend value · Realmo final
$3.02M
Range $2.72M – $3.32M · ±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
$116 / 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
$69,583
Tax year 2023
Assessed value
$4,087,751
Assessed 2023
Previous assessed
$2,524,526
+61.9% YoY
Effective rate
1.70%
On assessed value
Total market value
$4,087,751
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1984
Heating
NONE
Buildings
5
Stories
1
Units
1
Total area
26,104 SF
Lot
16.66 ac (725,884 SF)
Zoning code
C-
APN
283007000000033070
UPID
US18-3617968
Jurisdiction
POLK
Zoning & alternative use
C- · Lake Wales, FL
Zoning C- · permitted uses
C- · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.3M
RETAIL STORES 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
1984
Heating
NONE
Stories
1
Buildings
5
Units
1
Lot
16.66 ac
Current owner
From public records · entity-resolved
Orange Grove Associates LLC
Entity
Free & Clear · 20 yrs held
Mailing address
657 E MAIN ST STE #6, MOUNT KISCO, NY 10549-3424
Ownership since
2005
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
Jan 22, 2019
—
Orange Grove Associates LLC
—
Deed
related
$4,393,036 · Centerstate Bk NA
Nov 17, 2005
$1,866,200
Orange Grove Associates LLC
Ogden Houston INC
Quit Claim Deed
related
—
—
—
Orange Grove Associates LLC
—
Loan Modification
related
$4,393,036 · Centerstate Bk NA
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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