Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Bars & Pubs
1506 Parrott Ave Okeechobee, FL 34974-6167
Individually Owned
10-yr Hold
Free & Clear
Property ID
US18-4179377
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,823 SF
Lot
1.86 ac (80,934 SF)
APN
3-28-37-35-0050-00280-0030
UPID
US18-4179377
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
-
Lightsey’s Seafood Restaurant & Fish Co. Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$680k
Owner & transaction history
Td Bk NA · 10 yrs held
Td Bk NA
since 2016
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+36.8%
Auto repair, garage
$975,000
+21.4%
Warehouse, storage
$925,000
+14.8%
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 Okeechobee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okeechobee 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
NIGHTCLUB (COCKTAIL LOUNGE)
$805,000
Current use
MEDICAL BUILDING
$1,100,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$975,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$925,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$920,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$87 / 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
$22,852
Tax year 2023
Assessed value
$1,222,301
Assessed 2023
Previous assessed
$983,688
+24.3% YoY
Effective rate
1.87%
On assessed value
Assessed land
$614,250
Assessed improvement
$608,051
Land market value
$614,250
Improvement market value
$608,051
Total market value
$1,222,301
Applied tax rate
50.0000
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
2
Total area
7,823 SF
Lot
1.86 ac (80,934 SF)
APN
3-28-37-35-0050-00280-0030
UPID
US18-4179377
Jurisdiction
OKEECHOBEE
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
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$805,000
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$975,000
WAREHOUSE, STORAGE
Est. value
$925,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$920,000
NIGHTCLUB (COCKTAIL LOUNGE) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Bathrooms
2
Lot
1.86 ac
Current owner
From public records · entity-resolved
Td Bk NA
Individual
Free & Clear · 10 yrs held
Mailing address
399 SW 18TH ST, OKEECHOBEE, FL 34974-3447
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2022
—
Arrants LLC
—
Deed
related
$1,664,000 · South State Bank NA
Aug 10, 2016
—
Arrants LLC
—
Deed
related
$366,790 · Harbor Bk
Jan 19, 2016
$1,100,000
Td Bk NA
Riverside Natl Bk Of Fl
Quit Claim Deed
related
—
Jan 19, 2016
$725,000
Arrants LLC
Td Bank National Association
Special Warranty Deed
$458,488 · Harbor Community Bank
Nov 16, 2010
$1,100,000
Td Bk NA
Riverside Natl Bk Of Fl
Quit Claim Deed
—
—
—
Arrants LLC
—
Loan Modification
related
$366,790 · Harbor Bk
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 1506 Parrott Ave?
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.
