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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Office buildings
23598 Hwy 27, Lake Wales, FL 33859-7805
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US18-2761252
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
2,714 SF
Lot
1.03 ac (44,910 SF)
APN
272916000000042060
UPID
US18-2761252
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
-
Ridge Quality Motors Inc. Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
$545k
Comparable Approach
Comparable
$616k
Blend (final)
Blend
$575k
Owner & transaction history
Ridge Quality Motors INC · 12 yrs held
Ridge Quality Motors INC
since 2014
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$840,000
+91.7%
Commercial (general)
$770,000
+75.6%
Auto repair, garage
$660,000
+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
$435,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$545,000
7%
$510,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$440,000
Current use
MEDICAL BUILDING
$840,000
Change: +92% · Conversion: Easy
COMMERCIAL (GENERAL)
$770,000
Change: +76% · Conversion: Easy
AUTO REPAIR, GARAGE
$660,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$495,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$212 / 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
$6,709
Tax year 2023
Assessed value
$604,652
Assessed 2023
Previous assessed
$631,824
-4.3% YoY
Effective rate
1.11%
On assessed value
Assessed land
$437,697
Assessed improvement
$166,955
Land market value
$437,697
Improvement market value
$166,955
Total market value
$604,652
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
2,714 SF
Lot
1.03 ac (44,910 SF)
APN
272916000000042060
UPID
US18-2761252
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
OFFICE BUILDING Current
Est. value
$440,000
MEDICAL BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$660,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$495,000
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
1988
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Ridge Quality Motors INC
Entity
Mailing address
23598 HWY 27, LAKE WALES, FL 33859-7805
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2014
$550,000
Ridge Quality Motors INC
Marsh David L
Warranty Deed
$400,000 · Jerald A Cooper
Feb 3, 2010
—
David L Marsh
Carter,ronnie T & Sandra D Coc
Trustees Deed
related
—
Sep 29, 2006
$1,000,000
Ronnie T Carter SR.
Marsh,david L
Warranty Deed
$950,000 · David L Marsh
Jan 24, 2000
—
Towerview Motors INC
Wood,paul
Grant Deed
$1,250,000 · Citrus Bank Dealer Svcs Corp
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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