Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$12,945,000
Office buildings
321 Kentucky Ave Lakeland, FL 33801-5004
Individually Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3543974
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
59,931 SF
Lot
1.39 ac (60,723 SF)
Zoning code
C-6
APN
242818202500000150
UPID
US18-3543974
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
-
Skylight Solutions General Contractor
-
Spectrum Telecommunications Service
-
Publix Super Markets IS DTO Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.08M
Comparable Approach
Comparable
$15.85M
Blend (final)
Blend
$12.95M
Owner & transaction history
Lakeland Community Redev Agcy · 15 yrs held
Lakeland Community Redev Agcy
since 2011
1 recorded transaction
Zoning & alternative use
C-6 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.8M
+15.3%
Medical building
$14.7M
+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%
$13,090,000
6.5%
$12,080,000
7%
$11,220,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,860,000
Current use
AUTO REPAIR, GARAGE
$14,825,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$14,720,000
Change: +14% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$10,985,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$10,420,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$12.95M
Range $11.65M – $14.24M · ±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
$216 / 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
$157,478
Tax year 2023
Assessed value
$7,784,468
Assessed 2023
Previous assessed
$7,287,636
+6.8% YoY
Effective rate
2.02%
On assessed value
Assessed land
$470,580
Assessed improvement
$7,313,888
Land market value
$470,580
Improvement market value
$7,313,888
Total market value
$7,784,468
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
1972
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
59,931 SF
Lot
1.39 ac (60,723 SF)
Zoning code
C-6
APN
242818202500000150
UPID
US18-3543974
Jurisdiction
POLK
Zoning & alternative use
C-6 · Lakeland, FL
Zoning C-6 · permitted uses
C-6 · 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
$12.9M
AUTO REPAIR, GARAGE
Est. value
$14.8M
MEDICAL BUILDING
Est. value
$14.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.0M
RETAIL STORES
Est. value
$10.4M
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
1972
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Lakeland Community Redev Agcy
Individual
Free & Clear · 15 yrs held
Mailing address
228 S MASSACHUSETTS AVE, LAKELAND, FL 33801-5012
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
May 12, 2011
—
Lakeland Community Redev Agcy
Lakeland Downtown Dev Auth
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 321 Kentucky Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
