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Property profile & analytics
FOR LEASE
Super regional malls
2040 Shepherd Rd Mulberry, FL 33860
Entity Owned
Free & Clear
Property ID
US18-2977700
For Lease
$8,425,000
2040 Shepherd Rd, Mulberry, FL 33860
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2001
Total area
47,922 SF
Lot
8.65 ac (376,750 SF)
APN
232926141964000010
UPID
US18-2977700
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
-
Publix Pharmacy at Imperial Lakes Plaza Pharmacy
-
Primo Water Refill Big Box & Wholesale Store
-
Blue Rhino Propane Exchange Propane Supplier
-
City National Bank - Presto ATM Atm
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.43M
Owner & transaction history
PUBLIX SUPER MARKETS INC
PUBLIX SUPER MARKETS INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.6M
+54.6%
Office building
$11.8M
+34.5%
Auto repair, garage
$11.7M
+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 Mulberry submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mulberry 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,785,000
Current use
COMMERCIAL (GENERAL)
$13,575,000
Change: +55% · Conversion: Easy
OFFICE BUILDING
$11,815,000
Change: +35% · Conversion: Moderate
AUTO REPAIR, GARAGE
$11,665,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$7,445,000
Change: -15% · Conversion: Easy
INDUSTRIAL (GENERAL)
$7,410,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$8.43M
Range $7.58M – $9.27M · ±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
$176 / 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
$105,797
Tax year 2023
Assessed value
$7,492,312
Assessed 2023
Previous assessed
$4,735,949
+58.2% YoY
Effective rate
1.41%
On assessed value
Total market value
$7,492,312
Applied tax rate
90,000.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2001
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
47,922 SF
Lot
8.65 ac (376,750 SF)
APN
232926141964000010
UPID
US18-2977700
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
$8.8M
COMMERCIAL (GENERAL)
Est. value
$13.6M
OFFICE BUILDING
Est. value
$11.8M
AUTO REPAIR, GARAGE
Est. value
$11.7M
RETAIL STORES
Est. value
$7.4M
INDUSTRIAL (GENERAL)
Est. value
$7.4M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2001
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
8.65 ac
Current owner
From public records · entity-resolved
PUBLIX SUPER MARKETS INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 32018, LAKELAND, FL 33802-2018
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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