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Property profile & analytics
OFF-MARKET
Estimated value
$2,020,000
Retail space
1640 State Rd 70th W Okeechobee, FL 34972-4060
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-6073464
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2013
Construction
STEEL FRAME
Total area
9,390 SF
Lot
1.35 ac (58,980 SF)
APN
1-20-37-35-0A00-00001-0000
UPID
US18-6073464
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
$2.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$2.02M
Owner & transaction history
Sunlit Florida LLC · 5 yrs held
Sunlit Florida LLC
since 2021
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.4M
+95.6%
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 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
$2,015,000
ML approach
$2,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,225,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,390,000
Change: +96% · Conversion: Difficult
Blend value · Realmo final
$2.02M
Range $1.82M – $2.22M · ±10% · vs last sale $2.01M (Mar 12 2021)
Last sale anchor
$2.01M
Mar 12 2021
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
$215 / 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
$15,657
Tax year 2023
Assessed value
$1,033,013
Assessed 2023
Previous assessed
$879,265
+17.5% YoY
Effective rate
1.52%
On assessed value
Assessed land
$457,142
Assessed improvement
$575,871
Land market value
$457,142
Improvement market value
$575,871
Total market value
$1,033,013
Applied tax rate
30.0000
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
2013
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
2
Total area
9,390 SF
Lot
1.35 ac (58,980 SF)
APN
1-20-37-35-0A00-00001-0000
UPID
US18-6073464
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
RETAIL STORES Current
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
2013
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Bathrooms
2
Lot
1.35 ac
Current owner
From public records · entity-resolved
Sunlit Florida LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2551 ROYAL PALM WAY, WESTON, FL 33327-1505
Ownership since
2021
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
Mar 12, 2021
$2,012,500
Sunlit Florida LLC
Gary Cohen
Special Warranty Deed
—
Aug 26, 2016
—
Cohen,garye & J R Living Trust
Cohen,gary & Joan
Quit Claim Deed
related
—
Feb 1, 2013
$335,000
Dg Okeechobee LLC
N & A Real Estate Vii LLC
Warranty Deed
$1,100,218 · Centerstate Bank Of Florida NA
Nov 26, 2008
—
N & A Real Estate Vii LLC
N & A Construction INC
Quit Claim Deed
related
—
Jun 2, 2008
—
N & A Real Estate Vii LLC
N & A Construction INC
Quit Claim Deed
related
—
Oct 29, 1999
$165,000
N & A Real Estate INC
Wherrell,marvin W & Kathleen K
Grant Deed
$125,000 · Seller
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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