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Property profile & analytics
OFF-MARKET
Estimated value
$6,540,000
Retail properties & Spaces
3371 Us Hwy 441st S, Okeechobee, FL 34974-6249
Individually Owned
1-yr Hold
Free & Clear
Property ID
US18-4441184
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
76,008 SF
Lot
8.54 ac (372,220 SF)
APN
1-33-37-35-0A00-00003-B000
UPID
US18-4441184
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.00M
Blend (final)
Blend
$6.54M
Owner & transaction history
Ulta Salon Cosmetics & Fragrance In · 1 yrs held
Ulta Salon Cosmetics & Fragrance In
since 2025
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Okeechobee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okeechobee 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
$8,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$9,895,000
Current use
WAREHOUSE, STORAGE
$8,175,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$6.54M
Range $5.89M – $7.19M · ±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
$86 / 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
$82,308
Tax year 2023
Assessed value
$4,062,584
Assessed 2023
Previous assessed
$3,603,214
+12.7% YoY
Effective rate
2.03%
On assessed value
Assessed land
$751,051
Assessed improvement
$3,311,533
Land market value
$751,051
Improvement market value
$3,311,533
Total market value
$4,062,584
Applied tax rate
30.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Bathrooms
7
Total area
76,008 SF
Lot
8.54 ac (372,220 SF)
APN
1-33-37-35-0A00-00003-B000
UPID
US18-4441184
Jurisdiction
OKEECHOBEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.9M
WAREHOUSE, STORAGE
Est. value
$8.2M
RETAIL STORES Current
WAREHOUSE, STORAGE
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
7
Lot
8.54 ac
Current owner
From public records · entity-resolved
Ulta Salon Cosmetics & Fragrance In
Individual
Free & Clear · 1 yrs held
Mailing address
500 E LAS OLAS BLVD APT #3504, FORT LAUDERDALE, FL 33301-2587
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2025
—
Ulta Salon Cosmetics & Fragrance In
Northlake Village Owner LLC
Deed
—
Sep 22, 2022
—
Northlake Village LLC
Nl Chobee Center LLC
Assignment Of Lease (leasehold Sale)
—
Sep 22, 2022
$20,000,000
Northlake Village Owner LLC
Nl Chobee Center LLC
Special Warranty Deed
$14,257,500 · Connectone Bank
Oct 2, 1998
$3,265,000
N L Chobee Ltd
Arcadia/okeechobee Properties
Grant Deed
—
—
—
Nl Chobee Ltd
—
Deed Of Trust
related
$2,794,900 · Bankunited Fsb
—
—
Nl Chobee Ltd
—
Loan Modification
related
$4,000,000 · Bankunited Fsb
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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