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Property profile & analytics
OFF-MARKET
Estimated value
$3,545,000
Warehouses
4320 Wallace Rd Lakeland, FL 33812-6379
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-2809062
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2005
Total area
29,174 SF
Lot
3.11 ac (135,515 SF)
Zoning code
R-1
APN
242911000000021030
UPID
US18-2809062
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
-
Empire Marketing Group Big Box & Wholesale Store
-
Ballers facility Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.36M
Comparable Approach
Comparable
$2.65M
Blend (final)
Blend
$3.55M
Owner & transaction history
4320 Wallace Road LLC · 1 yrs held
4320 Wallace Road LLC
since 2025
Last sale
$3.6M
7 recorded transactions
Zoning & alternative use
R-1 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.4M
+79.2%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,725,000
6.5%
$4,360,000
7%
$4,050,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,030,000
Current use
RETAIL STORES
$5,425,000
Change: +79% · Conversion: Moderate
Blend value · Realmo final
$3.55M
Range $3.19M – $3.90M · ±10% · vs last sale $3.59M (Jan 29 2025)
Last sale anchor
$3.59M
Jan 29 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
$122 / 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
$17,079
Tax year 2023
Assessed value
$1,280,177
Assessed 2023
Previous assessed
$1,237,599
+3.4% YoY
Effective rate
1.33%
On assessed value
Assessed land
$94,869
Assessed improvement
$1,185,308
Land market value
$94,869
Improvement market value
$1,185,308
Total market value
$1,280,177
Applied tax rate
90,000.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Heating
NONE
Stories
1
Units
1
Total area
29,174 SF
Lot
3.11 ac (135,515 SF)
Zoning code
R-1
APN
242911000000021030
UPID
US18-2809062
Jurisdiction
POLK
Zoning & alternative use
R-1 · Lakeland, FLZoning R-1 · permitted uses
R-1 · Lakeland, FL
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
WAREHOUSE, STORAGE Current
Est. value
$3.0M
RETAIL STORES
Est. value
$5.4M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
2005
Heating
NONE
Stories
1
Units
1
Lot
3.11 ac
Current owner
From public records · entity-resolved
4320 Wallace Road LLC
Entity
Mailing address
2102 BUSINESS CTR DR #130, IRVINE, CA 92612-1001
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2025
$3,585,000
4320 Wallace Road LLC
Carl E Knutson JR
Warranty Deed
$2,880,000 · Sutton Bank
Apr 21, 2022
—
Carl E Knutson JR
—
Deed
related
$1,678,000 · Republic Bank & Trust Co
Apr 27, 2018
$1,300,000
Carl E Knutson JR.
Empire Equipment Co LLC
Grant Deed
$910,000 · Centerstate Bk NA
Jan 7, 2016
$846,100
Empire Equipment Co LLC
Empire Equipment Co
Grant Deed
related
—
Jan 23, 2013
—
Empire Equipment Co
Empire Warehouse LLC
Quit Claim Deed
related
—
May 19, 2004
$175,000
Empire Warehouses LLC
Huckery,thomas E & Dina E
Grant Deed
—
Nov 2, 2001
$40,000
James H Hamer
Oglesby,hugh J & Harriet R
Grant Deed
$40,000 · Florida First Int'l Bank
Oct 29, 1999
$35,000
Three M Partnership
Oglesby,hugh J & Harriet R
Grant Deed
$244,000 · Florida Firstbank
Oct 29, 1999
$175,000
Three M Partnership
Oglesby,hugh J & Harriet R
Trustees Deed
$131,250 · Florida Firstbank
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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