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Property profile & analytics
OFF-MARKET
Estimated value
$12,405,000
Hotels
329 Main St Lakeland, FL 33801-5046
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5108808
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1926
Total area
46,827 SF
Lot
0.37 ac (16,104 SF)
Zoning code
C7
APN
242818201000017010
UPID
US18-5108808
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 Terrace Hotel By Hilton Lakeland Bar & Pub
-
The Terrace Hotel Lakeland, Tapestry Collection by Hilton Hotel & Motel
-
Terrace Grille Lakeland Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.51M
Blend (final)
Blend
$12.41M
Owner & transaction history
329 E Main LLC · 4 yrs held
329 E Main LLC
since 2022
3 recorded transactions
Zoning & alternative use
C7 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.6M
+9.4%
Medical building
$11.5M
+8.6%
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$10,590,000
Current use
AUTO REPAIR, GARAGE
$11,585,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$11,500,000
Change: +9% · Conversion: Difficult
OFFICE BUILDING
$10,050,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,580,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$12.41M
Range $11.16M – $13.65M · ±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
$265 / 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
$118,493
Tax year 2023
Assessed value
$5,857,372
Assessed 2023
Previous assessed
$5,857,372
+0.0% YoY
Effective rate
2.02%
On assessed value
Total market value
$5,857,372
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1926
Heating
NONE
Buildings
3
Stories
9
Units
1
Total area
46,827 SF
Lot
0.37 ac (16,104 SF)
Zoning code
C7
APN
242818201000017010
UPID
US18-5108808
Jurisdiction
POLK
Zoning & alternative use
C7 · Lakeland, FL
Zoning C7 · permitted uses
C7 · 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
HOTEL/MOTEL Current
Est. value
$10.6M
AUTO REPAIR, GARAGE
Est. value
$11.6M
MEDICAL BUILDING
Est. value
$11.5M
OFFICE BUILDING
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.6M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1926
Heating
NONE
Stories
9
Buildings
3
Units
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
329 E Main LLC
Entity
Mailing address
PO BOX 2955, LAKELAND, FL 33806-2955
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2022
—
329 E Main LLC
Terrace Properties Partners Ltd
Correction Deed
related
$10,220,000 · Bank Of Central Florida
Aug 11, 2020
$7,250,000
329 E Main LLC
Terrace Prop Ptrs Ltd
Grant Deed
$4,000,000 · Terrace Prop Ptrs Ltd
Feb 8, 1999
$150,000
Terrace Properties Partners Lt
Lakeland Downtown Development
Grant 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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