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Property profile & analytics
OFF-MARKET
Estimated value
$21,025,000
Distribution centers
2943 Old Tampa Hwy Lakeland, FL 33803-1674
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-6187381
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1973
Total area
162,100 SF
Lot
5.99 ac (261,055 SF)
Zoning code
C-4
APN
232822000000034020
UPID
US18-6187381
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
-
A-1 Diesel Repair Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.45M
Comparable Approach
Comparable
$23.47M
Blend (final)
Blend
$21.03M
Owner & transaction history
Bntr 2929 Old Tampa LLC · 4 yrs held
Bntr 2929 Old Tampa LLC
since 2021
Last sale
$27.3M
1 recorded transaction
Zoning & alternative use
C-4 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$30.2M
+79.7%
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%
$15,650,000
6.5%
$14,445,000
7%
$13,415,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$16,830,000
Current use
RETAIL STORES
$30,235,000
Change: +80% · Conversion: Moderate
Blend value · Realmo final
$21.03M
Range $18.92M – $23.13M · ±10% · vs last sale $27.33M (Dec 6 2021)
Last sale anchor
$27.33M
Dec 6 2021
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
$130 / 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
$136,080
Tax year 2023
Assessed value
$9,992,171
Assessed 2023
Previous assessed
$9,992,171
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$299,355
Assessed improvement
$9,692,816
Land market value
$299,355
Improvement market value
$9,692,816
Total market value
$9,992,171
Applied tax rate
91,000.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1973
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
162,100 SF
Lot
5.99 ac (261,055 SF)
Zoning code
C-4
APN
232822000000034020
UPID
US18-6187381
Jurisdiction
POLK
Zoning & alternative use
C-4 · Lakeland, FL
Zoning C-4 · permitted uses
C-4 · 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
WAREHOUSE, STORAGE Current
Est. value
$16.8M
RETAIL STORES
Est. value
$30.2M
WAREHOUSE, STORAGE Current
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
1973
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
5.99 ac
Current owner
From public records · entity-resolved
Bntr 2929 Old Tampa LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1180 PEACHTREE ST NE #1575, ATLANTA, GA 30309-3531
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2021
$27,325,000
Bntr 2929 Old Tampa LLC
Morris Realty Company LLC
Special Warranty 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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