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Property profile & analytics
FOR SALE
Auto shops
242 S Scenic Hwy, Lake Wales, FL 33853
Entity Owned
~
Est. High Equity
Property ID
US18-5617179
For Sale
1 / 26
$650,000
242 S Scenic Hwy, Lake Wales, FL 33853
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1954
Total area
11,464 SF
Lot
0.68 ac (29,538 SF)
Zoning code
C2R3
APN
273001883000045060
UPID
US18-5617179
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
-
Anchor center and auto sale Auto Repair Shop
-
Executive Dry Cleaners-Lake Wales (Bike/Boat/Book/etc) Store
-
Friendly Auto Sales, Llc Car Dealership
-
Body Armor Tattoo & Piercings Tattoo & Piercing Shop
-
PURPLE BOSS INC Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mh Commerce Plaza Center LLC
Mh Commerce Plaza Center LLC
since 2026
Last sale
$120,000
7 recorded transactions
Zoning & alternative use
C2R3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,969
Tax year 2023
Assessed value
$168,991
Assessed 2023
Previous assessed
$172,066
-1.8% YoY
Effective rate
2.35%
On assessed value
Assessed land
$61,963
Assessed improvement
$107,028
Land market value
$61,963
Improvement market value
$107,028
Total market value
$168,991
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1954
Heating
NONE
Stories
1
Units
1
Total area
11,464 SF
Lot
0.68 ac (29,538 SF)
Zoning code
C2R3
APN
273001883000045060
UPID
US18-5617179
Jurisdiction
POLK
Zoning & alternative use
C2R3 · Lake Wales, FL
Zoning C2R3 · permitted uses
C2R3 · 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.
Building & site characteristics
From public records
Year built
1954
Heating
NONE
Stories
1
Units
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Mh Commerce Plaza Center LLC
Entity
Mailing address
721 10TH AVE, TOMS RIVER, NJ 08757-2438
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2026
$650,000
Mh Commerce Plaza Center LLC
Hab Holdings LLC
Special Warranty Deed
$487,500 · Boyd Loan Funding I LLC Isaoa Atima
May 13, 2021
—
Hab Holdings LLC
Harout Kebabjian
Quit Claim Deed
related
—
Oct 20, 2020
—
Harout Kebabjian
Harout Kebabjian
Quit Claim Deed
related
—
Dec 26, 2019
—
Harout Kebabjian
Hab Holdings LLC
Quit Claim Deed
related
$250,000 · Boyd Ln Fndg I LLC
Jan 26, 2016
—
Hab Holdings LLC
—
Trustees Deed
related
$60,000 · Boyd Management LLC
Oct 6, 2015
$150,000
Hab Holdings LLC
Steedley,lawrence
Warranty Deed
related
$150,000 · Boyd Management LLC
Feb 17, 2000
$120,000
Lawrence Steedley
Highlander Tire & Automotive C
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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