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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Strip malls
2004 State Rd 60th E Lake Wales, FL 33898-5182
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US18-4745868
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Total area
6,231 SF
Lot
0.99 ac (43,338 SF)
APN
283007940853000030
UPID
US18-4745868
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
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.25M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$985k
Owner & transaction history
Severn Real Properties LLC · 21 yrs held
Severn Real Properties LLC
since 2005
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+32.8%
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 Lake Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Wales 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%
$1,350,000
6.5%
$1,245,000
7%
$1,155,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,140,000
Current use
AUTO REPAIR, GARAGE
$1,515,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$1,005,000
Change: -12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$965,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$158 / 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
$18,078
Tax year 2023
Assessed value
$911,684
Assessed 2023
Previous assessed
$918,975
-0.8% YoY
Effective rate
1.98%
On assessed value
Assessed land
$498,192
Assessed improvement
$413,492
Land market value
$498,192
Improvement market value
$413,492
Total market value
$911,684
Applied tax rate
90,320.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Units
1
Total area
6,231 SF
Lot
0.99 ac (43,338 SF)
APN
283007940853000030
UPID
US18-4745868
Jurisdiction
POLK
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$965,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
INDUSTRIAL (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
2000
Heating
NONE
Stories
1
Units
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Severn Real Properties LLC
Entity
Mailing address
867 LAKESIDE DR, NORTH PALM BEACH, FL 33408-3842
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2005
$1,450,000
Severn Real Properties LLC
University Club Partners LLC
Grant Deed
$725,000 · Public 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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