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Property profile & analytics
OFF-MARKET
Estimated value
$3,175,000
Hotels
3111 Masterpiece Rd Lake Wales, FL 33898-7659
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US19-0381395
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1925
Construction
TYPE NOT SPECIFIED
Total area
14,898 SF
Lot
9.73 ac (423,621 SF)
APN
282917000000014020
UPID
US19-0381395
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
-
Bella Cosa Wedding Venue Wedding Service Photography Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$3.18M
Owner & transaction history
Tom N Nguyen · 3 yrs held
Tom N Nguyen
since 2022
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.6M
+36.8%
Commercial (general)
$4.2M
+25.2%
Auto repair, garage
$3.6M
+7.6%
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
$3,650,000
ML approach
$3,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$3,370,000
Current use
MEDICAL BUILDING
$4,610,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,220,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,625,000
Change: +8% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,730,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.18M
Range $2.86M – $3.49M · ±10% · vs last sale $3.20M (Jul 29 2022)
Last sale anchor
$3.20M
Jul 29 2022
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
$213 / 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
$14,035
Tax year 2023
Assessed value
$1,053,042
Assessed 2023
Previous assessed
$1,016,496
+3.6% YoY
Effective rate
1.33%
On assessed value
Assessed land
$165,214
Assessed improvement
$887,828
Land market value
$497,357
Improvement market value
$887,828
Total market value
$1,385,185
Applied tax rate
30,000.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1925
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Bathrooms
12
Total area
14,898 SF
Lot
9.73 ac (423,621 SF)
APN
282917000000014020
UPID
US19-0381395
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
HOTEL/MOTEL Current
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
HOTEL/MOTEL 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
1925
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Bathrooms
12
Lot
9.73 ac
Current owner
From public records · entity-resolved
Tom N Nguyen
Individual
Mailing address
10601 BELCHER RD S, SEMINOLE, FL 33777-1407
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
$908,400
Tom N Nguyen
Bellacosa LLC
Warranty Deed
—
Jul 29, 2022
$3,200,000
Bella Cosa Us LLC
Tom N Nguyen
Warranty Deed
$2,400,000 · First Citizens Bank & Trust Co
Jul 29, 2022
$454,200
Fair Exchange LLC
Steven P Coscia
Warranty Deed
—
May 28, 2019
—
Capernaum Ministries INC
—
Correction Deed
related
$1,013,173 · Centerstate Bk/fl
Feb 11, 2016
$997,400
Capernaum Ministries INC
Nguyen,tammy T
Grant Deed
related
$1,013,173 · Centerstate Bk/fl
Apr 7, 2010
—
Tammy T Nguyen
Nguyen,tom & Tammy
Quit Claim Deed
related
—
Sep 19, 2005
$1,600,000
Tom N Nguyen
Hewell,robert E & Joyce S
Warranty Deed
—
Apr 24, 1997
$300,000
Robert E Hewell
Berkley,o A
Grant Deed
$225,000 · Huntington National Bank
—
—
Robert E Hewell
—
Deed Of Trust
related
$400,000 · Universe Learning Centers INC
—
—
Tom N Nguyen
—
Deed Of Trust
related
$750,000 · 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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