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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Retail space
1806 Combee Rd Lakeland, FL 33801-6852
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-3704173
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1969
Total area
2,880 SF
Lot
0.57 ac (25,012 SF)
Zoning code
C-4
APN
242827000000034010
UPID
US18-3704173
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
$695k
CAP Approach
CAP
$500k
Comparable Approach
Comparable
$813k
Blend (final)
Blend
$635k
Owner & transaction history
Gsl3 LLC · 1 yrs held
Gsl3 LLC
since 2025
5 recorded transactions
Zoning & alternative use
C-4 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$715,000
+42.3%
Medical building
$705,000
+41.2%
Office building
$620,000
+23.4%
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
$700,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
$540,000
6.5%
$500,000
7%
$460,000
Alternative Use
Use
Estimation
RETAIL STORES
$500,000
Current use
AUTO REPAIR, GARAGE
$715,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$705,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$620,000
Change: +23% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$530,000
Change: +5% · Conversion: Moderate
COMMERCIAL (GENERAL)
$420,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$220 / 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
$8,313
Tax year 2023
Assessed value
$504,522
Assessed 2023
Previous assessed
$488,870
+3.2% YoY
Effective rate
1.65%
On assessed value
Assessed land
$72,532
Assessed improvement
$431,990
Land market value
$72,532
Improvement market value
$431,990
Total market value
$504,522
Applied tax rate
91,000.0000
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
1969
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
2,880 SF
Lot
0.57 ac (25,012 SF)
Zoning code
C-4
APN
242827000000034010
UPID
US18-3704173
Jurisdiction
POLK
Zoning & alternative use
C-4 · Lakeland, FL
Zoning C-4 · permitted uses
C-4 · 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
RETAIL STORES Current
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$715,000
MEDICAL BUILDING
Est. value
$705,000
OFFICE BUILDING
Est. value
$620,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$530,000
COMMERCIAL (GENERAL)
Est. value
$420,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (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
1969
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Gsl3 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
718 N LK FORMOSA DR, ORLANDO, FL 32803-1422
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2025
—
Gsl3 LLC
Paul D Owens
Warranty Deed
—
Jul 12, 2023
—
Paul D Owens
Paul D Owens
Intrafamily Transfer
related
—
Apr 14, 2006
$550,000
Paul D Owens
Stover,major C & Susan A
Warranty Deed
$450,000 · Century National Bank
Aug 16, 2001
$235,000
C Stover
Romesburg,paul
Grant Deed
$188,000 · Bank Of America
Mar 10, 1997
$2,690,000
Three Worlds LP
Three Worlds Properties
Grant Deed
related
$1,700,000 · Michigan National Bank
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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