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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Office buildings
140 Park Ave Lake Wales, FL 33853-4124
Entity Owned
Property ID
US18-4906098
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1925
Total area
7,884 SF
Lot
0.06 ac (2,701 SF)
Zoning code
C-1
APN
273001883000027050
UPID
US18-4906098
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 Care Center Charitable Organization Social Service Agency
-
Lake Wales Literacy Council Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.59M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.40M
Owner & transaction history
Lake Wales Care Center INC
Lake Wales Care Center INC
1 recorded transaction
Zoning & alternative use
C-1 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of C-1 zone designed to encourage and facilitate a mix of residential uses and commercial activities in compact, pedestrian oriented, central business districts with a variety of traditional downtown uses such as small retail stores, offices, restaurants, hotels, and apartments
Zone name
Downtown Commercial
General category
COMMERCIAL
Zone area
61.65 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.2M
+70.8%
Auto repair, garage
$1.9M
+46.8%
Neighborhood: shopping center
$1.4M
+10.5%
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%
$1,720,000
6.5%
$1,590,000
7%
$1,475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,310,000
Current use
COMMERCIAL (GENERAL)
$2,235,000
Change: +71% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,920,000
Change: +47% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,445,000
Change: +11% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,220,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±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
$177 / 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
$168
Tax year 2023
Assessed value
$609,332
Assessed 2023
Previous assessed
$432,769
+40.8% YoY
Effective rate
0.03%
On assessed value
Assessed land
$31,050
Assessed improvement
$578,282
Land market value
$31,050
Improvement market value
$578,282
Total market value
$609,332
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1925
Heating
NONE
Stories
3
Units
1
Total area
7,884 SF
Lot
0.06 ac (2,701 SF)
Zoning code
C-1
APN
273001883000027050
UPID
US18-4906098
Jurisdiction
POLK
Zoning & alternative use
C-1 · Lake Wales, FLZoning C-1 · permitted uses
C-1 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of C-1 zone designed to encourage and facilitate a mix of residential uses and commercial activities in compact, pedestrian oriented, central business districts with a variety of traditional downtown uses such as small retail stores, offices, restaurants, hotels, and apartments
Zone name
Downtown Commercial
General category
COMMERCIAL
Zone area
61.65 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1925
Heating
NONE
Stories
3
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Lake Wales Care Center INC
Entity
Mailing address
140 E PARK AVE, LAKE WALES, FL 33853-4124
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Lake Wales Care Center INC
—
Deed Of Trust
related
$100,000 · Citizens Bank & Trust Co
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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