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Property profile & analytics
OFF-MARKET
Estimated value
$5,985,000
Drug stores
4340 Florida Ave Lakeland, FL 33813-1631
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-3110458
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
17,270 SF
Lot
1.61 ac (70,175 SF)
Zoning code
C-2
APN
242906000000043060
UPID
US18-3110458
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
-
Bhupendra Patel Pharmacy
-
Bitcoin Depot | BDCheckout Atm
-
Walgreens Pharmacy Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$5.99M
Owner & transaction history
Project Summit Nlp LLC · 3 yrs held
Project Summit Nlp LLC
since 2022
Last sale
$6.4M
4 recorded transactions
Zoning & alternative use
C-2 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.9M
+208.1%
Industrial (general)
$9.5M
+196.0%
Commercial (general)
$4.5M
+38.9%
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
$7,320,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$9,895,000
Change: +208% · Conversion: Easy
INDUSTRIAL (GENERAL)
$9,505,000
Change: +196% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,460,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,275,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$4,240,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$5.99M
Range $5.39M – $6.58M · ±10% · vs last sale $6.37M (Sep 6 2022)
Last sale anchor
$6.37M
Sep 6 2022
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
$347 / 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
$45,373
Tax year 2023
Assessed value
$2,488,942
Assessed 2023
Previous assessed
$2,442,806
+1.9% YoY
Effective rate
1.82%
On assessed value
Assessed land
$807,162
Assessed improvement
$1,681,780
Land market value
$807,162
Improvement market value
$1,681,780
Total market value
$2,488,942
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Units
1
Total area
17,270 SF
Lot
1.61 ac (70,175 SF)
Zoning code
C-2
APN
242906000000043060
UPID
US18-3110458
Jurisdiction
POLK
Zoning & alternative use
C-2 · Lakeland, FL
Zoning 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
Lakeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$9.9M
INDUSTRIAL (GENERAL)
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$4.2M
RESTAURANT
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1999
Heating
NONE
Stories
1
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Project Summit Nlp LLC
Entity
Free & Clear · 3 yrs held
Mailing address
30 N LA SALLE ST STE #4140, CHICAGO, IL 60602-2900
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2022
$6,372,000
Project Summit Nlp LLC
Walgreen Co
Special Warranty Deed
—
Sep 6, 2022
—
Walgreen Co
Project Summit Nlp LLC
Lease
—
Apr 22, 1999
$36,200
Walgreen Co
Fog Partners Seven LP
Grant Deed
—
May 8, 1998
$670,700
Fog Partners Seven Limited
Fletcher,ralph L
Grant Deed
—
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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