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Property profile & analytics
OFF-MARKET
Estimated value
$8,685,000
Retail properties & Spaces
4329 Commercial Way Spring Hill, FL 34606-1917
Entity Owned
12-yr Hold
Free & Clear
Property ID
US18-3546842
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1993
Total area
56,795 SF
Lot
13.6 ac (592,416 SF)
APN
R10-223-17-2637-0001-0010
UPID
US18-3546842
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.69M
Owner & transaction history
Lakewood Station LLC · 12 yrs held
Lakewood Station LLC
since 2013
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.4M
+54.6%
Auto repair, garage
$10.8M
+24.4%
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 Spring Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Hill 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%
$9,295,000
6.5%
$8,580,000
7%
$7,965,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,660,000
Current use
RESTAURANT
$13,390,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,770,000
Change: +24% · Conversion: Difficult
MEDICAL BUILDING
$7,680,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$8.69M
Range $7.82M – $9.55M · ±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
$153 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$170,904
Tax year 2022
Assessed value
$11,253,179
Assessed 2023
Previous assessed
$11,253,179
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$977,918
Assessed improvement
$10,275,261
Land market value
$2,774,400
Improvement market value
$8,478,779
Total market value
$11,253,179
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1993
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
25
Stories
1
Rooms
1
Bathrooms
39
Total area
56,795 SF
Lot
13.6 ac (592,416 SF)
APN
R10-223-17-2637-0001-0010
UPID
US18-3546842
Jurisdiction
HERNANDO
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
RETAIL STORES Current
Est. value
$8.7M
RESTAURANT
Est. value
$13.4M
AUTO REPAIR, GARAGE
Est. value
$10.8M
MEDICAL BUILDING
Est. value
$7.7M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1993
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
25
Rooms
1
Bathrooms
39
Lot
13.6 ac
Current owner
From public records · entity-resolved
Lakewood Station LLC
Entity
Free & Clear · 12 yrs held
Mailing address
11501 NORTHLAKE DR FL #1, CINCINNATI, OH 45249-1667
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2018
—
Lakewood Station LLC
—
Deed
related
$175,000,000 · Miscellaneous Ins Co
Oct 11, 2017
—
Lakewood Station LLC
—
Grant Deed
related
$175,000,000 · Miscellaneous Ins Co
Nov 12, 2013
$15,300,000
Lakewood Station LLC
Us Retail Income Fund V LP
Grant Deed
—
Sep 3, 1997
$9,466,000
Us Retail Income Fund V LP
Lakewood Plaza Partners
Grant Deed
related
—
—
—
Lakewood Station LLC
—
Loan Modification
related
$175,000,000 · 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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