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    4248 Us Hwy 98th N Lakeland, FL 33809-3819
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    Property profile & analytics

    4248 Us Hwy 98th N, Lakeland, FL 33809-3819

    View on Map
    • Super regional malls
    • 31,918 SF
    • 15.81 lot acres
    Off-Market
    Property ID
    US18-4053972
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,185,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 4248 Us Hwy 98th N

    Year built
    1989
    Lot size
    15.81 lot acres
    Zone code
    PUD
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    232735000000011020
    APU
    232735000000011020

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 18, 2017 $19,000,000 Pmat Village Plaza LLC Ramco-gershenson Properties LP Grant Deed · related $14.4M · Keybank USA
    Dec 6, 2004 $15,500,000 Rlv Village Plaza Sleepy Hill 98 LLC Grant Deed —
    Dec 27, 2002 $11,675,000 Sleepy Hill 98 LLC Sleepy Lake Partners LP Grant Deed · related —
    — — Rlv Village Plaza — Deed Of Trust · related $9.3M · Citigroup Global Markets Realt

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,850,000
      Current use
      COMMERCIAL (GENERAL)
      $8,245,000
      Change: +41% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,895,000
      Change: +35% Conversion: Difficult
      MEDICAL BUILDING
      $7,840,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $7,450,000
      Change: +27% Conversion: Moderate
      RETAIL STORES
      $5,935,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9759
    Latitude
    28.0963
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $217,124
    $0.00
    $0.00
    $12,085,586
    -
    $0.00
    $0.00
    $12,085,586

    Comparable in this City

    • Value Estimation
      $10,010,000
      61,646 SF

      6767 Us Hwy 98th N

      REGIONAL SHOPPING CENTER, MALL
      6767 Us Hwy 98th N, Lakeland, FL 33809-6226
      View Details
    • Value Estimation
      $8,460,000
      52,098 SF

      919 Lakeland Park Ctr Drb110

      REGIONAL SHOPPING CENTER, MALL
      919 Lakeland Park Ctr Drb110, Lakeland, FL 33809-3841
      View Details
    • Value Estimation
      $7,070,000
      83,260 SF

      3800 Us Hwy 98th Nrm-800

      REGIONAL SHOPPING CENTER, MALL
      3800 Us Hwy 98th Nrm-800, Lakeland, FL 33809-3833
      View Details
    • Value Estimation
      $34,790,000
      425,986 SF

      3800 Us Hwy 98th N

      REGIONAL SHOPPING CENTER, MALL
      3800 Us Hwy 98th N, Lakeland, FL 33809-3833
      View Details
    • Value Estimation
      $5,505,000
      33,900 SF

      6525 Socrum Loop Rd

      REGIONAL SHOPPING CENTER, MALL
      6525 Socrum Loop Rd, Lakeland, FL 33809-4180
      View Details
    • Value Estimation
      $9,310,000
      110,326 SF

      3800 Us Hwy 98th N

      REGIONAL SHOPPING CENTER, MALL
      3800 Us Hwy 98th N, Lakeland, FL 33809-3833
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,239 SF

      Retail Property Near Lakeland Square

      Retail property with national tenants and below market rents.
      3954-3970 Us Highway 98 N, Lakeland, FL 33809
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    • $5,900,000

      Lakeland Retail Space For Sale

      Expansive retail space in Lakeland Square Mall, Lakeland, Florida.
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    • Contact for pricing
      104,892 SF

      Lakeland Retail Opportunity on US-98

      Spacious retail property in Lakeland's key commercial corridor.
      3800 Us Highway 98 N, Lakeland, FL 33809
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    • $349,900
      Pending

      Prime Corner Land in Lakeland

      2+ acre corner lot near I-4 with high visibility.
      Old Polk City Rd, Lakeland, FL 33809
      View Details
    • $275,000
      6.02 Acres

      6.02 Acres with Active Permits

      Land with partially built home and active permits in Lakeland.
      432 Wildlife Trl, Lakeland, FL 33809
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    • $575,000

      Lakeland Land on US Highway

      1.61 acre commercial lot with high traffic exposure.
      7221 Us Highway 98 N, Lakeland, FL 33809
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    Similar Nearby for Lease

    • Contact for pricing

      Publix-Anchored Retail Center For Rent

      Retail space in a redeveloped, highly visible, Publix-anchored center.
      6767 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing

      High Visibility Lakeland Power Center

      Retail spaces and outparcels available in high-traffic Lakeland location.
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Lakeland Square

      Retail space available across from Lakeland Square Mall.
      4215-4275 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing
      85,253 SF

      Liberty Square Center Outparcels

      Lakeland Retail Center - Outparcels Available
      6140 Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Lakeland, Florida.
      4901-4997 Us Highway 98 North, Lakeland, FL 33809
      View Details
    • Contact for pricing
      22,686 SF

      Retail Space Available For Lease

      Retail space for lease, delivery expected in Q4 2026.
      6600 N Socrum Loop Rd, Lakeland, FL 33809
      View Details
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    Lakeland, FL 33809-3819
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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