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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3212 Us Hwy 98th N Lakeland, FL 33805-2144

    • Drive through restaurants
    • 5,308 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4294299
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Burger King / Restaurant

    Property Details for 3212 Us Hwy 98th N

    Year built
    1979
    Lot size
    1.19 lot acres
    Property size
    5,308 SF
    Zone code
    C-2
    Property type
    Drive through restaurants
    APN
    232801000000031210
    APU
    232801000000031210

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $860,000
      Market price range: $416k - $1.12M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9684
    Latitude
    28.0824
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,310
    $701,433
    $651,511
    $1,352,944
    -
    $701,433
    $651,511
    $1,352,944

    Comparable in this City

    • Value Estimation by Request
      3,395 SF

      2815 Us Hwy 98th N

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,395 SF
      2815 Us Hwy 98th N, Lakeland, FL 33805-2403
      View Details
    • Value Estimation by Request
      528 SF

      1142 Texas Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 528 SF
      1142 Texas Ave, Lakeland, FL 33805-4365
      View Details
    • Value Estimation by Request
      3,080 SF

      1035 Walker Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,080 SF
      1035 Walker Ave, Lakeland, FL 33805
      View Details
    • Value Estimation by Request
      2,083 SF

      2550 Us Hwy 98th N

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,083 SF
      2550 Us Hwy 98th N, Lakeland, FL 33805-2413
      View Details
    • Value Estimation by Request
      3,004 SF

      3108 Us Hwy 98th N

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,004 SF
      3108 Us Hwy 98th N, Lakeland, FL 33805-2104
      View Details
    • Value Estimation
      $645,000
      5,142 SF

      3130 Us Hwy 98th N

      RESTAURANT • 5,142 SF
      3130 Us Hwy 98th N, Lakeland, FL 33805-2104
      View Details

    Similar Nearby for Sale

    • $3,417,000
      5,142 SF

      Lakeland Restaurant Property For Sale

      Restaurant property with long-term lease and annual rent increases.
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      View Details
    • Contact for pricing
      3.67 Acres

      Lakeland Retail Land - 3 Parcels

      Three pad-ready lots, ideal retail location.
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    • $1,050,000
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      Lakeland Commercial Park Land Available

      Developed commercial parcels available in Lakeland, Florida, near I-4.
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    • $1,700,000
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      Gas Station Plus Vacant Lot

      Operating gas station and vacant lot on 0.9 acres.
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      Lakeland Commercial Land for Sale

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    • $1,150,000
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      Lakeland Commercial Land, 1.15 Acres

      Prime 1.15-acre commercial lot in Lakeland, FL
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    Similar Nearby for Lease

    • Contact for pricing
      13,200 SF

      Lakeland Warehouse Space Available

      Warehouse space with dock high access and sprinkler system.
      4725 E Lakeland Commerce Pkwy, Lakeland, FL 33805
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    • $3,800 /Mo
      2,150 SF

      Medical Office Near Lakeland Regional

      Medical office building near Lakeland Regional and Watson Clinic.
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    • Contact for pricing
      10,920 SF

      Lakeland Dock High Warehouse Space

      Dock high warehouse space for lease in Lakeland, Florida.
      4040 N Combee Rd, Lakeland, FL 33805
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    • Contact for pricing
      24,000 SF

      Lakeland Warehouse with Dock Doors

      24,000 SF warehouse with convenient highway access.
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    • Contact for pricing
      200,242 SF

      Lakeland Warehouse: 200,242 SF

      Large industrial warehouse space available in Lakeland, Florida.
      6870 Firstpark Blvd, Lakeland, FL 33805
      View Details
    • $12,720 /Mo

      Class A Office Space Available

      Professional office space for lease in North Lakeland.
      1910 Lakeland Hills Blvd, Lakeland, FL 33805
      View Details
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    Lakeland, FL 33805-2144
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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