Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$935,000
Office buildings
1408 Homestead N Rd Lehigh Acres, FL 33936-4855
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5159085
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,112 SF
Lot
0.29 ac (12,828 SF)
Zoning code
CPD
APN
31-44-27-02-00011.0020
UPID
US18-5159085
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
-
AUTO Zone Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$674k
Blend (final)
Blend
$935k
Owner & transaction history
Preferred Plaza LLC · 4 yrs held
Preferred Plaza LLC
since 2022
Last sale
$920,000
3 recorded transactions
Zoning & alternative use
CPD · Lehigh Acres, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+160.5%
Commercial (general)
$1.3M
+129.5%
Neighborhood: shopping center
$720,000
+26.2%
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 Lehigh Acres submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lehigh Acres 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
$945,000
ML approach
$950,000
CAP Approach
CAP Return
Estimation
6%
$645,000
6.5%
$595,000
7%
$555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$570,000
Current use
AUTO REPAIR, GARAGE
$1,490,000
Change: +161% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,310,000
Change: +129% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$720,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$935k
Range $842k – $1.03M · ±10% · vs last sale $920k (Mar 17 2022)
Last sale anchor
$920k
Mar 17 2022
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
$443 / 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
$4,406
Tax year 2023
Assessed value
$372,150
Assessed 2023
Previous assessed
$261,800
+42.2% YoY
Effective rate
1.18%
On assessed value
Assessed land
$71,827
Assessed improvement
$300,323
Land market value
$71,827
Improvement market value
$300,323
Total market value
$372,150
Applied tax rate
48.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 (MULTI-STORY)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
2,112 SF
Lot
0.29 ac (12,828 SF)
Zoning code
CPD
APN
31-44-27-02-00011.0020
UPID
US18-5159085
Jurisdiction
LEE
Zoning & alternative use
CPD · Lehigh Acres, FL
Zoning CPD · permitted uses
CPD · Lehigh Acres, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lehigh Acres. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$720,000
MEDICAL BUILDING
Est. value
$605,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL 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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Preferred Plaza LLC
Entity
Mailing address
1400 HOMESTEAD RD N, LEHIGH ACRES, FL 33936-4855
Ownership since
2022
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
Mar 17, 2022
$920,000
Preferred Plaza LLC
Cornelius P O'sullivan
Warranty Deed
$400,000 · Franceil A Williams Living Trust
Jan 14, 2014
—
Osullivan,cornelius P Trust
Osullivan,cornelius & Estelle
Quit Claim Deed
related
—
Jan 24, 2006
$500,000
Cornelius O'sullivan
Osullivan,cornelius & Estelle
Warranty Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1408 Homestead N Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
