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Property profile & analytics
OFF-MARKET
Estimated value
$2,520,000
Drive through restaurants
3929 Florida Ave Lakeland, FL 33813-1117
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4212020
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1976
Total area
2,454 SF
Lot
0.62 ac (26,911 SF)
Zoning code
C-2
APN
232901000000012060
UPID
US18-4212020
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$2.52M
Owner & transaction history
1391 Second Avenue Realty Corp · 2 yrs held
1391 Second Avenue Realty Corp
since 2023
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
C-2 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Commercial
General category
COMMERCIAL
Zone area
1,122.02 ac
Source
Realmo
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
$2,900,000
ML approach
$3,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.52M
Range $2.27M – $2.77M · ±10% · vs last sale $2.40M (Sep 27 2023)
Last sale anchor
$2.40M
Sep 27 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
$1,027 / 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
$12,681
Tax year 2023
Assessed value
$695,635
Assessed 2023
Previous assessed
$708,572
-1.8% YoY
Effective rate
1.82%
On assessed value
Assessed land
$410,378
Assessed improvement
$285,257
Land market value
$410,378
Improvement market value
$285,257
Total market value
$695,635
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1976
Heating
NONE
Stories
1
Units
1
Total area
2,454 SF
Lot
0.62 ac (26,911 SF)
Zoning code
C-2
APN
232901000000012060
UPID
US18-4212020
Jurisdiction
POLK
Zoning & alternative use
C-2 · Lakeland, FLZoning C-2 · permitted uses
C-2 · Lakeland, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Commercial
General category
COMMERCIAL
Zone area
1,122.02 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1976
Heating
NONE
Stories
1
Units
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
1391 Second Avenue Realty Corp
Entity
Mailing address
2240 GRIFFIN RD, LAKELAND, FL 33810-5565
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2023
$2,400,000
1391 Second Avenue Realty Corp
Wen Lake Corporation
Special Warranty Deed
—
Dec 14, 2016
—
Wen-lake Corp
—
Deed
related
$1,500,000 · Fifth Third Bk
Mar 19, 2013
—
Wen-lake Corp
—
Deed Of Trust
related
$3,729,400 · Fifth Third Bank
—
—
Wen-lake Corp
—
Deed Of Trust
related
$1,100,000 · Wachovia Bank NA
—
—
Wen-lake Corp
—
Deed Of Trust
related
$250,000 · Amsouth Bank
—
—
Wen-lake Corp
—
Deed Of Trust
related
$350,000 · Fifth Third 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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