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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Office buildings
21529 Hwy 27 Lake Wales, FL 33859-6857
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US18-2787940
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Total area
3,306 SF
Lot
5.86 ac (255,044 SF)
Zoning code
C-3
APN
272927000000041030
UPID
US18-2787940
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
-
Lake Wales Chrysler Dodge Jeep RAM Service Auto Repair Shop
-
Lake Wales Chrysler Dodge Jeep RAM Car Dealership
-
Lake Wales Chrysler Dodge Jeep Ram Parts Auto Parts Store
-
Certified Agricultural Dealership of Lake Wales Car Finance And Loan Company Car Leasing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$769k
Blend (final)
Blend
$685k
Owner & transaction history
Mahalak Auto Group Lake Wales · 13 yrs held
Mahalak Auto Group Lake Wales
since 2013
3 recorded transactions
Zoning & alternative use
C-3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.0M
+91.7%
Commercial (general)
$935,000
+75.6%
Auto repair, garage
$805,000
+50.9%
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
$595,000
CAP Approach
CAP Return
Estimation
6%
$720,000
6.5%
$665,000
7%
$620,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$535,000
Current use
MEDICAL BUILDING
$1,025,000
Change: +92% · Conversion: Easy
COMMERCIAL (GENERAL)
$935,000
Change: +76% · Conversion: Easy
AUTO REPAIR, GARAGE
$805,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$207 / 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
$34,321
Tax year 2023
Assessed value
$1,693,429
Assessed 2023
Previous assessed
$1,761,688
-3.9% YoY
Effective rate
2.03%
On assessed value
Assessed land
$395,321
Assessed improvement
$1,298,108
Land market value
$395,321
Improvement market value
$1,298,108
Total market value
$1,693,429
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1977
Heating
NONE
Buildings
6
Stories
1
Units
1
Total area
3,306 SF
Lot
5.86 ac (255,044 SF)
Zoning code
C-3
APN
272927000000041030
UPID
US18-2787940
Jurisdiction
POLK
Zoning & alternative use
C-3 · Lake Wales, FL
Zoning C-3 · permitted uses
C-3 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$535,000
MEDICAL BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$935,000
AUTO REPAIR, GARAGE
Est. value
$805,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1977
Heating
NONE
Stories
1
Buildings
6
Units
1
Lot
5.86 ac
Current owner
From public records · entity-resolved
Mahalak Auto Group Lake Wales
Entity
Mailing address
299 CYPRESS GDNS BLVD, WINTER HAVEN, FL 33880-4331
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2013
$2,950,000
Mahalak Auto Group Lake Wales
Sorensen,stephen D
Warranty Deed
$2,500,000 · Citizens Bank & Trust Co
Mar 5, 1997
—
Wanda Sorensen
—
Grant Deed
related
$800,000 · American Bank & Trust Polk Cou
—
—
Sorensen,s D Living Trust
—
Loan Modification
related
$807,982 · Centerstate Bank Of Florida
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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