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Property profile & analytics
OFF-MARKET
Estimated value
$3,065,000
Office buildings
385 Pearl Lk Cswy Altamonte Springs, FL 32714-3808
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-4222560
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
TILT-UP CONCRETE
Total area
15,192 SF
Lot
1.86 ac (80,804 SF)
APN
16-21-29-507-0000-0050
UPID
US18-4222560
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
-
Lighthouse Learning Micro-School Training Center
-
Abiding in Christ Ministries Church
-
Al Ritmo de la Alabanza y la Adoración Church Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.73M
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$3.07M
Owner & transaction history
South Pearl Lake Holdings LLC · 1 yrs held
South Pearl Lake Holdings LLC
since 2025
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.0M
+45.1%
Neighborhood: shopping center
$3.4M
+21.6%
Retail stores
$2.9M
+4.0%
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 Altamonte Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altamonte Springs 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
$2,065,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,035,000
6.5%
$3,725,000
7%
$3,460,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,775,000
Current use
COMMERCIAL (GENERAL)
$4,025,000
Change: +45% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,375,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$2,885,000
Change: +4% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,775,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,640,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$3.07M
Range $2.76M – $3.37M · ±10% · vs last sale $3.10M (May 28 2025)
Last sale anchor
$3.10M
May 28 2025
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
$202 / 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
Assessed value
$2,559,221
Assessed 2023
Previous assessed
$2,320,544
+10.3% YoY
Land market value
$735,508
Improvement market value
$1,823,713
Total market value
$2,559,221
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Bathrooms
7
Total area
15,192 SF
Lot
1.86 ac (80,804 SF)
APN
16-21-29-507-0000-0050
UPID
US18-4222560
Jurisdiction
SEMINOLE
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
OFFICE BUILDING Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.4M
RETAIL STORES
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Bathrooms
7
Lot
1.86 ac
Current owner
From public records · entity-resolved
South Pearl Lake Holdings LLC
Entity
Mailing address
385 S PEARL LK CSWY, ALTAMONTE SPG, FL 32714-3808
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
May 28, 2025
$3,100,000
South Pearl Lake Holdings LLC
Abiding In Christ Ministries INC
Warranty Deed
$2,480,000 · One Florida Bank
Jan 24, 2017
—
Abiding In Christ Ministries INC
—
Deed
related
$452,000 · Customers Bank
Jun 25, 2013
$1,180,000
Abiding In Christ Ministries INC
Zions First National Bank
Special Warranty Deed
$1,500,000 · American Endownment Foundation
Dec 11, 2012
$1,203,100
Aions First National Bank
Kumukoa LLC Coc
Trustees Deed
related
—
Aug 1, 2006
$700,000
Kumukoa LLC
Regency Land & Development Ltd
Warranty Deed
$2,278,000 · Zions First National Bank
—
—
Kumukoa LLC
—
Deed Of Trust
related
$222,000 · Zions First National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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