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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Grocery and convenience stores
328 State Rd 60th E Lake Wales, FL 33853-3750
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-4615810
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1973
Total area
3,230 SF
Lot
0.36 ac (15,655 SF)
Zoning code
C2R3
APN
273011914500001010
UPID
US18-4615810
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
-
The Royal Quality barbershop Barber Shop
-
save way food mart Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$516k
Blend (final)
Blend
$565k
Owner & transaction history
Jay Bhole LLC · 6 yrs held
Jay Bhole LLC
since 2020
Last sale
$500,000
2 recorded transactions
Zoning & alternative use
C2R3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$915,000
+54.6%
Auto repair, garage
$785,000
+32.8%
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
$600,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Current use
COMMERCIAL (GENERAL)
$915,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$785,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$535,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $500k (Feb 12 2020)
Last sale anchor
$500k
Feb 12 2020
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
$175 / 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
$3,184
Tax year 2023
Assessed value
$153,966
Assessed 2023
Previous assessed
$155,874
-1.2% YoY
Effective rate
2.07%
On assessed value
Assessed land
$53,224
Assessed improvement
$100,742
Land market value
$53,224
Improvement market value
$100,742
Total market value
$153,966
Applied tax rate
90,320.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1973
Heating
NONE
Stories
1
Units
1
Total area
3,230 SF
Lot
0.36 ac (15,655 SF)
Zoning code
C2R3
APN
273011914500001010
UPID
US18-4615810
Jurisdiction
POLK
Zoning & alternative use
C2R3 · Lake Wales, FL
Zoning C2R3 · permitted uses
C2R3 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$915,000
AUTO REPAIR, GARAGE
Est. value
$785,000
OFFICE BUILDING
Est. value
$535,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
Units
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Jay Bhole LLC
Entity
Mailing address
6309 HAMPTON POINTE CIR, LAKELAND, FL 33813-7903
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2020
$500,000
Jay Bhole LLC
Jerry E Anderson
Warranty Deed
$250,000 · Anderson Jerry E Trust (pt)
Oct 11, 2016
$193,000
Anderson,jerry E Trust
Setzer Nancy J
Grant Deed
$201,469 · Centerstate Bk/fl
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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