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

    3370 Us Hwy 98th N Lakeland, FL 33809-3826

    • Hotels
    • 57,452 SF
    • 3.63 lot acres
    OFF-MARKET
    Value Estimations
    $14,255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7674284
    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

    • TownePlace Suites Lakeland / Hotel & Motel
    • Gas station / Gas Station
    • Lakeland hotel / Hotel & Motel / Bed & Breakfast
    • Town plaza suits lakeland / Hotel & Motel

    Property Details for 3370 Us Hwy 98th N

    Year built
    2016
    Lot size
    3.63 lot acres
    Property size
    57,452 SF
    Property type
    Hotels
    APN
    232736016029000041
    APU
    232736016029000041

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,822,000
      Market price range: $5.90M - $20.3M
      AI Estimate
      $10,685,000
      Market price range: $2.39M - $13.2M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $12,995,000
      Current use
      COMMERCIAL (GENERAL)
      $14,845,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $14,215,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $14,110,000
      Change: +9% Conversion: Difficult
      OFFICE BUILDING
      $13,410,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $10,685,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9733
    Latitude
    28.0847
    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
    $122,679
    $0.00
    $0.00
    $6,729,603
    -
    $0.00
    $0.00
    $6,729,603

    Comparable in this City

    • Value Estimation
      $925,000
      3,176 SF

      4502 Socrum Loop Rd

      HOTEL • 3,176 SF
      4502 Socrum Loop Rd, Lakeland, FL 33809-4202
      View Details
    • Value Estimation
      $4,370,000
      31,040 SF

      4321 Lakeland Park Dr

      HOTEL • 31,040 SF
      4321 Lakeland Park Dr, Lakeland, FL 33809-3585
      View Details
    • Value Estimation
      $10,745,000
      38,460 SF

      4420 Socrum Loop Rd

      HOTEL • 38,460 SF
      4420 Socrum Loop Rd, Lakeland, FL 33809-4240
      View Details
    • Value Estimation
      $565,000
      1,938 SF

      3520 Us Hwy 98th N

      HOTEL • 1,938 SF
      3520 Us Hwy 98th N, Lakeland, FL 33809-3805
      View Details
    • Value Estimation
      $6,430,000
      73,246 SF

      1024 Lakeland Park Ctr Dr

      HOTEL • 73,246 SF
      1024 Lakeland Park Ctr Dr, Lakeland, FL 33809-3844
      View Details
    • Value Estimation
      $10,980,000
      50,951 SF

      4500 Lakeland Park Dr

      HOTEL • 50,951 SF
      4500 Lakeland Park Dr, Lakeland, FL 33809-3529
      View Details

    Similar Nearby for Sale

    • $650,000
      1,008 SF

      Lakeland Mixed-Use Development Opportunity

      3.51 Acres, I-4 Proximity, High Visibility
      8105 State Road 33, Lakeland, FL 33809
      View Details
    • $990,000
      Pending

      Lakeland Land Parcel For Sale

      11.29 acre parcel near I-4, suitable for rezoning.
      Old Polk City Rd, Lakeland, FL 33809
      View Details
    • $285,000
      5.95 Acres

      Land on US Highway 98

      5.95 acres of residential land with highway frontage.
      Us Highway 98 N, Lakeland, FL 33809
      View Details
    • $349,900
      Pending

      Prime Corner Land in Lakeland

      2.44 acres of fenced land with high visibility near I-4.
      Old Polk City Rd, Lakeland, FL 33809
      View Details
    • $575,000

      Land with Frontage on US 98

      Commercial land with high visibility along US 98 N.
      7221 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • $1,000,000

      Prime Corner Lot For Sale

      Usable land on a hard signalized corner in Lakeland, FL.
      550 South Rd, Lakeland, FL 33809
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,394 SF

      Lakeland Retail Center Opportunity

      High-traffic retail space, 20,000 sq ft available
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing
      85,253 SF

      Liberty Square Center Outparcels

      Lakeland Retail Center - Outparcels Available
      6140 Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing
      239,580 SF

      Lakeland Retail Center Investment

      High-traffic retail space available in Lakeland, FL
      0 Lakeland Park Ctr Dr. & Nebraska Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing

      Publix-Anchored Retail Center For Rent

      Retail space in a redeveloped, highly visible, Publix-anchored center.
      6767 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing
      84,899 SF

      Lakeland Retail Center - Highway 98

      Prime Lakeland retail space available.
      4901-4997 Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Lakeland Square

      Retail space available across from Lakeland Square Mall.
      4215-4275 Us Highway 98 N, Lakeland, FL 33809
      View Details

    Property Visit Statistics

    • Visits by month
      13.2k
    • Visitors by month
      9.5k
    • Avg Time on site
      14 min
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    Lakeland, FL 33809-3826
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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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