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Property profile & analytics
OFF-MARKET
Estimated value
$19,475,000
Medical Office Space
1600 Lakeland Hls Blvd Lakeland, FL 33805-3019
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4315829
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1958
Total area
99,678 SF
Lot
11.73 ac (510,959 SF)
Zoning code
O-3
APN
242807000000033040
UPID
US18-4315829
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
$19.27M
Comparable Approach
Comparable
$17.40M
Blend (final)
Blend
$19.48M
Owner & transaction history
Watson Clinic LLP · 5 yrs held
Watson Clinic LLP
since 2020
3 recorded transactions
Zoning & alternative use
O-3 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$25.8M
+5.2%
Auto repair, garage
$24.7M
+0.7%
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 Lakeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeland 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%
$20,875,000
6.5%
$19,270,000
7%
$17,895,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$24,480,000
Current use
COMMERCIAL (GENERAL)
$25,750,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$24,660,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$23,265,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$19.48M
Range $17.53M – $21.42M · ±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
$195 / 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
$431,899
Tax year 2023
Assessed value
$24,436,936
Assessed 2023
Previous assessed
$21,506,532
+13.6% YoY
Effective rate
1.77%
On assessed value
Assessed land
$2,171,631
Assessed improvement
$22,265,305
Land market value
$2,171,631
Improvement market value
$22,265,305
Total market value
$24,436,936
Applied tax rate
91,510.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1958
Heating
NONE
Buildings
5
Stories
1
Units
1
Total area
99,678 SF
Lot
11.73 ac (510,959 SF)
Zoning code
O-3
APN
242807000000033040
UPID
US18-4315829
Jurisdiction
POLK
Zoning & alternative use
O-3 · Lakeland, FL
Zoning O-3 · permitted uses
O-3 · Lakeland, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$24.5M
COMMERCIAL (GENERAL)
Est. value
$25.8M
AUTO REPAIR, GARAGE
Est. value
$24.7M
OFFICE BUILDING
Est. value
$23.3M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1958
Heating
NONE
Stories
1
Buildings
5
Units
1
Lot
11.73 ac
Current owner
From public records · entity-resolved
Watson Clinic LLP
Entity
Mailing address
PO BOX 95000, LAKELAND, FL 33804-5000
Ownership since
2020
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
Dec 29, 2020
—
Watson Clinic LLP
—
Deed
related
$25,500,000 · Truist Bk
Oct 1, 2019
—
Watson Clinic LLP
—
Loan Modification
related
$54,701,333 · Suntrust Bk
—
—
Watson Clinic LLP
—
Deed Of Trust
related
$25,500,000 · Truist 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.
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