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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Strip malls
202 2nd St Okeechobee, FL 34972-2960
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-1981835
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
STEEL FRAME
Total area
12,770 SF
Lot
0.65 ac (28,357 SF)
APN
3-15-37-35-0010-01530-0030
UPID
US18-1981835
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
-
Marder Dermatology and Skin Cancer Center Physician
-
New Family Medicine Physician Medical Clinic
-
La Mariposa Mexican Restaurant Restaurant
-
Dr. Vinas Dermatology Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$678k
Blend (final)
Blend
$950k
Owner & transaction history
M & L Rental Properties Of Okeechob · 2 yrs held
M & L Rental Properties Of Okeechob
since 2024
Last sale
$950,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+87.1%
Retail stores
$1.1M
+48.2%
Warehouse, storage
$875,000
+19.2%
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
$950,000
ML approach
$950,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$735,000
Current use
AUTO REPAIR, GARAGE
$1,375,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$1,090,000
Change: +48% · Conversion: Easy
WAREHOUSE, STORAGE
$875,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $950k (Jan 3 2024)
Last sale anchor
$950k
Jan 3 2024
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
$74 / 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
$12,255
Tax year 2023
Assessed value
$577,780
Assessed 2023
Previous assessed
$488,462
+18.3% YoY
Effective rate
2.12%
On assessed value
Assessed land
$74,976
Assessed improvement
$502,804
Land market value
$74,976
Improvement market value
$502,804
Total market value
$577,780
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
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
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
8
Total area
12,770 SF
Lot
0.65 ac (28,357 SF)
APN
3-15-37-35-0010-01530-0030
UPID
US18-1981835
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Bathrooms
8
Lot
0.65 ac
Current owner
From public records · entity-resolved
M & L Rental Properties Of Okeechob
Entity
Mailing address
3670 NW 18TH AVE, OKEECHOBEE, FL 34972-1659
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
$950,000
M & L Rental Properties Of Okeechob
Palm Plaza Of Okeechobee INC
Warranty Deed
$600,000 · Southstate Bank National Associatio
Dec 12, 2019
—
Owner Name Unavailable
Christopher W Newman
Quit Claim Deed
related
—
Nov 27, 2019
—
Palm Plaza Of Okeechobee INC
—
Deed
related
$475,000 · Centerstate Bk NA
Jun 1, 2018
—
Christopher W Newman
—
Deed
related
$487,622 · First Nat'l Bk/wauchula
May 14, 2015
—
Christopher W Newman
Palm Plaza Of Okeechobee INC
Quit Claim Deed
related
—
Mar 29, 2012
—
Palm Plaza Of Okeechobee INC
Newman,christopher W & Gail M
Quit Claim Deed
related
—
—
—
Christopher W Newman
—
Deed Of Trust
related
$350,000 · Big Lake National Bank
—
—
Palm Plaza Of Okeechobee INC
—
Deed Of Trust
related
$475,000 · Centerstate Bk NA
—
—
Christopher W Newman
—
Deed Of Trust
related
$634,550 · First National Bank Wauchula
—
—
Palm Plaza Of Okeechobee INC
—
Loan Modification
related
$566,250 · First Nat'l Bk/wauchula
—
—
Christopher W Newman
—
Loan Modification
related
$487,622 · First Nat'l Bk/wauchula
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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