Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2121 Us Hwy 98th N Lakeland, FL 33805-2868

    • Grocery and convenience stores
    • 6,815 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2827627
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mari's club / Grocery & Convenience Store / Food Market
    • Kenny's Que / Restaurant

    Property Details for 2121 Us Hwy 98th N

    Year built
    1964
    Lot size
    0.67 lot acres
    Property size
    6,815 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    232801018000010150
    APU
    232801018000010150

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,250,000
      Current use
      RETAIL STORES
      $1,270,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9577
    Latitude
    28.0721
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,168
    $227,393
    $275,504
    $502,897
    -
    $227,393
    $275,504
    $502,897

    Comparable in this City

    • Value Estimation by Request
      2,630 SF

      1205 Lakeland Hls Blvd

      CONVENIENCE STORE • 2,630 SF
      1205 Lakeland Hls Blvd, Lakeland, FL 33805-4657
      View Details
    • Value Estimation
      $7,205,000
      9,250 SF

      1006 Lakeland Hls Blvd

      CONVENIENCE STORE • 9,250 SF
      1006 Lakeland Hls Blvd, Lakeland, FL 33805
      View Details
    • Value Estimation
      $760,000
      4,632 SF

      4646 Old Combee Rd

      CONVENIENCE STORE • 4,632 SF
      4646 Old Combee Rd, Lakeland, FL 33805
      View Details
    • Value Estimation by Request
      2,000 SF

      425 8th St

      CONVENIENCE STORE • 2,000 SF
      425 8th St, Lakeland, FL 33805-4831
      View Details
    • Value Estimation
      $2,165,000
      10,950 SF

      1410 Florida Ave

      CONVENIENCE STORE • 10,950 SF
      1410 Florida Ave, Lakeland, FL 33805-3637
      View Details
    • Value Estimation by Request
      3,912 SF

      1345 Kathleen Rd

      CONVENIENCE STORE • 3,912 SF
      1345 Kathleen Rd, Lakeland, FL 33805-3527
      View Details

    Similar Nearby for Sale

    • $1,700,000
      0.90 Acres

      Gas Station Plus Vacant Lot

      Operating gas station and vacant lot on 0.9 acres.
      1345 Kathleen Rd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      3.67 Acres

      Lakeland Retail Land - 3 Parcels

      Three pad-ready lots, ideal retail location.
      1965 Memorial Blvd, Lakeland, FL 33805
      View Details
    • $3,417,000
      5,142 SF

      Lakeland Restaurant Property For Sale

      Restaurant property with long-term lease and annual rent increases.
      3130 N Us Highway 98, Lakeland, FL 33805
      View Details
    • $1,050,000
      1.16 Acres

      Lakeland Commercial Park Land Available

      Developed commercial parcels available in Lakeland, Florida, near I-4.
      Hwy 33 N, Lakeland, FL 33805
      View Details
    • $1,160,000
      1.16 Acres

      Lakeland Commercial Land, 1.16 Acres

      Prime Polk County location, high traffic, ready to build.
      7568 State Road 33, Lakeland, FL 33805
      View Details
    • $450,000
      960 SF

      Lakeland Mixed-Use Industrial Property

      Prime Lakeland industrial property, 0.6 acres, home included.
      1137 Crestview Ave, Lakeland, FL 33805
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,000 SF

      Lakeland Warehouse with Dock Doors

      24,000 SF warehouse with convenient highway access.
      2560 Old Combee Rd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      52,185 SF

      Renovated Office Building For Rent

      Renovated office building featuring open floors, cafeteria, and training rooms.
      2735 Providence Rd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      27,751 SF

      Renovated Office Space Available

      Renovated office building with open floors and included furniture.
      1144 Providence Rd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      73,356 SF

      73,356 SF Lakeland Warehouse Space

      73,356 SF warehouse with expansion potential and ample parking.
      2727 Interstate Dr, Lakeland, FL 33805
      View Details
    • $13 SF/Yr
      2,500 SF

      Warehouse Space Near I-4 Corridor

      Well-maintained commercial park with easy access to major roadways.
      2372 Old Combee Rd, Lakeland, FL 33805
      View Details
    • $12,720 /Mo

      Class A Office Space

      Professional office space for lease in North Lakeland.
      1910 Lakeland Hills Blvd, Lakeland, FL 33805
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2121 Us Hwy 98th N
    Lakeland, FL 33805-2868
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.