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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Grocery and convenience stores
338 Scenic Hwy Lake Wales, FL 33853-3849
Entity Owned
2-yr Hold
Free & Clear
Property ID
US19-0594020
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1970
Total area
3,098 SF
Lot
0.38 ac (16,727 SF)
Zoning code
C-2
APN
273001883000056020
UPID
US19-0594020
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
$685k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$455k
Blend (final)
Blend
$560k
Owner & transaction history
Caribbean Lounge & Event Centre INC · 2 yrs held
Caribbean Lounge & Event Centre INC
since 2023
Last sale
$495,000
7 recorded transactions
Zoning & alternative use
C-2 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$880,000
+54.6%
Auto repair, garage
$755,000
+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
$620,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Current use
COMMERCIAL (GENERAL)
$880,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$755,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$515,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $495k (Oct 10 2023)
Last sale anchor
$495k
Oct 10 2023
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
$181 / 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
$2,473
Tax year 2023
Assessed value
$117,761
Assessed 2023
Previous assessed
$114,459
+2.9% YoY
Effective rate
2.10%
On assessed value
Assessed land
$52,690
Assessed improvement
$65,071
Land market value
$52,690
Improvement market value
$65,071
Total market value
$117,761
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
1970
Heating
NONE
Stories
1
Units
1
Total area
3,098 SF
Lot
0.38 ac (16,727 SF)
Zoning code
C-2
APN
273001883000056020
UPID
US19-0594020
Jurisdiction
POLK
Zoning & alternative use
C-2 · Lake Wales, FL
Zoning C-2 · permitted uses
C-2 · 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
$570,000
COMMERCIAL (GENERAL)
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$755,000
OFFICE BUILDING
Est. value
$515,000
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
1970
Heating
NONE
Stories
1
Units
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Caribbean Lounge & Event Centre INC
Entity
Free & Clear · 2 yrs held
Mailing address
208 SANTA ROSA DR, WINTER HAVEN, FL 33884-3801
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2023
$7,000
Caribbean Lounge & Event Centre INC
Lake Wales Gas LLC
Quit Claim Deed
related
—
Jul 21, 2023
$7,000
Caribbean Lounge & Event Centre INC
Lake Wales Gas LLC
Quit Claim Deed
related
—
Jul 3, 2023
$7,000
Caribbean Lounge & Event Centre INC
Lake Wales Gas LLC
Quit Claim Deed
related
—
Mar 15, 2023
$114,500
Lake Wals Gas LLC
Owners Self Finance INC
Quit Claim Deed
related
—
Dec 17, 2021
$70,200
Owners Self Finance
County Of Polk
Public Action
related
—
Jan 14, 2019
$495,000
Dawn M Mulneix
Grove Motel INC
Warranty Deed
$395,000 · Grove Motel INC
Mar 19, 2015
$18,200
J & R Marketing Group INC
Court Clerk Of Polk County
Tax Deed
—
Oct 21, 2003
$260,000
R Taropawala INC
Weeks Family Ptshp I
Grant Deed
$208,000 · Citrus & Chemical Bank
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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