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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office buildings
256 Kentucky Ave Lakeland, FL 33801-4976
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-2193196
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1922
Total area
3,220 SF
Lot
0.04 ac (1,577 SF)
Zoning code
C-7
APN
242818201000006011
UPID
US18-2193196
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
-
Hiepe Randall C Law Firm
-
Barrow & Powers Financial Services Financial Advisor
-
Gratium Wealth Planning - Ameriprise Financial Services, LLC Financial Advisor
-
Pilka Daniel F Law Firm
-
Brent Powers - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$684k
Blend (final)
Blend
$690k
Owner & transaction history
Bay & Kentucky LLC · 1 yrs held
Bay & Kentucky LLC
since 2025
Last sale
$820,000
4 recorded transactions
Zoning & alternative use
C-7 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$795,000
+15.3%
Medical building
$790,000
+14.5%
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 Lakeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeland 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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$690,000
Current use
AUTO REPAIR, GARAGE
$795,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$790,000
Change: +14% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$560,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $820k (Mar 5 2025)
Last sale anchor
$820k
Mar 5 2025
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
$214 / 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
$6,796
Tax year 2023
Assessed value
$335,921
Assessed 2023
Previous assessed
$317,113
+5.9% YoY
Effective rate
2.02%
On assessed value
Assessed land
$53,550
Assessed improvement
$282,371
Land market value
$53,550
Improvement market value
$282,371
Total market value
$335,921
Applied tax rate
91,511.0000
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
1922
Heating
NONE
Stories
2
Units
1
Total area
3,220 SF
Lot
0.04 ac (1,577 SF)
Zoning code
C-7
APN
242818201000006011
UPID
US18-2193196
Jurisdiction
POLK
Zoning & alternative use
C-7 · Lakeland, FL
Zoning C-7 · permitted uses
C-7 · Lakeland, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$795,000
MEDICAL BUILDING
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$590,000
RETAIL STORES
Est. value
$560,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1922
Heating
NONE
Stories
2
Units
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Bay & Kentucky LLC
Entity
Mailing address
256 N KENTUCKY AVE, LAKELAND, FL 33801-4976
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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 5, 2025
$820,000
Bay & Kentucky LLC
Barrow & Powers Financial Services
Warranty Deed
$820,000 · Todd N Barrow Etux
Apr 27, 2000
$240,000
Barrow Svc
Harper,robert F
Grant Deed
related
$300,000 · Dobbs Marketing Group Ltd
—
—
Barrow & Powers Finl Svcs INC
—
Deed Of Trust
related
$240,000 · Platinum Bank
—
—
Barrow & Powers Finl Svcs INC
—
Deed Of Trust
related
$257,000 · Florida Firstbank
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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