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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Strip malls
406 3rd St Okeechobee, FL 34972-4129
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US18-1215953
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,961 SF
Lot
0.69 ac (29,969 SF)
APN
3-15-37-35-0010-01260-0090
UPID
US18-1215953
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
-
Probation-Misdemeanor Probation Office School
-
Core Program Probation Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$894k
Blend (final)
Blend
$755k
Owner & transaction history
401 Nw 3rd Street LLC · 14 yrs held
401 Nw 3rd Street LLC
since 2012
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.2M
+19.2%
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
$620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$975,000
Current use
WAREHOUSE, STORAGE
$1,165,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$45 / 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
$16,418
Tax year 2023
Assessed value
$761,640
Assessed 2023
Previous assessed
$678,724
+12.2% YoY
Effective rate
2.16%
On assessed value
Assessed land
$150,000
Assessed improvement
$611,640
Land market value
$150,000
Improvement market value
$611,640
Total market value
$761,640
Applied tax rate
50.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
23
Total area
16,961 SF
Lot
0.69 ac (29,969 SF)
APN
3-15-37-35-0010-01260-0090
UPID
US18-1215953
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$975,000
WAREHOUSE, STORAGE
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER 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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
23
Lot
0.69 ac
Current owner
From public records · entity-resolved
401 Nw 3rd Street LLC
Entity
Mailing address
305 NW 4TH AVE, OKEECHOBEE, FL 34972-2552
Ownership since
2012
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 30, 2017
—
401 Nw 3rd Street LLC
—
Deed
related
$1,900,000 · Miscellaneous Ins Co
Mar 29, 2012
—
401 Nw 3rd Street LLC
Close Properties LLC
Quit Claim Deed
related
$787,500 · Harbor Community Bank Fsb
Apr 4, 2001
$600,000
Close Properties INC
Echols,charles
Grant Deed
$620,074 · Riverside National Bank
—
—
Close Properties LLC
—
Deed Of Trust
related
$250,000 · Harbor Cmnty Bk
—
—
Close Properties INC
—
Deed Of Trust
related
$1,000,000 · Riverside National Bank
—
—
401 Nw 3rd Street LLC
—
Deed Of Trust
related
$1,900,000 · Miscellaneous Ins Co
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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