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Property profile & analytics
OFF-MARKET
Estimated value
$1,675,000
Super regional malls
3800 Us Hwy 98th N Lakeland, FL 33809-3833
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-6010727
Property summary
AI-generated overview
This exceptional 155,276-square-foot vacant retail building, formerly a Sears, is situated on an 11.57-acre lot at Lakeland Square Mall in Lakeland, Florida (33809). The property, built in 1988 and boasting a Class B designation, offers significant redevelopment potential. Its prime location near Interstate 4 and Highway 98 provides unparalleled access and visibility, with convenient connectivity to the rest of the mall and signalized intersections on Hwy 98. This strategic position between Tampa and Orlando makes it a gateway to Central Florida's thriving market. Currently zoned C-5, the property presents numerous possibilities, including continued use as retail space (convenience store, grocery store, or shopping center), or, with a zoning change, conversion to apartments or self-storage. The asking price is $10,900,000, translating to $70.20 per square foot. The property's size, location, and vacant status create a unique value-add investment opportunity. Detailed zoning guidelines are available upon request. The parcel number is 232735000000012020.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1994
Total area
104,892 SF
Lot
7.61 ac (331,622 SF)
Zoning code
C-5
APN
232735000000012120
UPID
US18-6010727
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
-
Zumiez Skateboard Shop Snowboard Shop
-
JCPenney Department Store
-
rue21 Clothing Store Men'S Clothing Store
-
Champs Sports Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Hot Topic Clothing Store Fashion Accessories Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.68M
Owner & transaction history
Lakeland Retail Management LLC · 4 yrs held
Lakeland Retail Management LLC
since 2021
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
C-5 · Lakeland, FL
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 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
$1,745,000
ML approach
$1,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.68M
Range $1.51M – $1.84M · ±10% · vs last sale $1.50M (Nov 18 2021)
Last sale anchor
$1.50M
Nov 18 2021
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
$16 / 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
$37,712
Tax year 2023
Assessed value
$2,068,718
Assessed 2023
Previous assessed
$1,998,203
+3.5% YoY
Effective rate
1.82%
On assessed value
Assessed land
$1,260,015
Assessed improvement
$808,703
Land market value
$1,260,015
Improvement market value
$808,703
Total market value
$2,068,718
Applied tax rate
91,510.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Units
1
Total area
104,892 SF
Lot
7.61 ac (331,622 SF)
Zoning code
C-5
APN
232735000000012120
UPID
US18-6010727
Jurisdiction
POLK
Zoning & alternative use
C-5 · Lakeland, FL
Zoning C-5 · permitted uses
C-5 · 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.
Building & site characteristics
From public records
Year built
1994
Heating
NONE
Stories
1
Units
1
Lot
7.61 ac
Current owner
From public records · entity-resolved
Lakeland Retail Management LLC
Entity
Free & Clear · 4 yrs held
Mailing address
17749 COLLINS AVE APT #2902, SUNNY ISLES BEACH, FL 33160-4698
Ownership since
2021
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
Nov 18, 2021
$1,500,000
Lakeland Retail Management LLC
3800 Highway 98 LLC
Special Warranty Deed
—
Jan 19, 2018
$945,000
3800 Highway 98 LLC
Macy S Florida Stores LLC
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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