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Property profile & analytics
OFF-MARKET
Estimated value
$1,625,000
Warehouses
461 Deputy J Davis Ln, Lake City, FL 32024-3741
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4029667
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
WOOD
Total area
19,440 SF
Lot
14.81 ac (645,124 SF)
Zoning code
CHI
APN
34-3S-16-02475-001
UPID
US18-4029667
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
-
Morrell's Furniture And Mattresses Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$1.63M
Owner & transaction history
Morrells Legacy LLC · 8 yrs held
Morrells Legacy LLC
since 2018
7 recorded transactions
Zoning & alternative use
CHI · Lake City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+50.9%
Commercial (general)
$2.1M
+47.0%
Medical building
$1.5M
+3.0%
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 Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City 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
$1,065,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,425,000
Current use
RESTAURANT
$2,150,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,095,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$1,470,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,445,000
Change: +1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,235,000
Change: -13% · Conversion: Moderate
RETAIL STORES
$1,155,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$84 / 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
$27,503
Tax year 2023
Assessed value
$1,441,763
Assessed 2023
Previous assessed
$1,365,616
+5.6% YoY
Effective rate
1.91%
On assessed value
Assessed land
$150,590
Assessed improvement
$1,291,173
Land market value
$150,590
Improvement market value
$1,291,173
Total market value
$1,441,763
Applied tax rate
2.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
9
Stories
1
Rooms
2
Total area
19,440 SF
Lot
14.81 ac (645,124 SF)
Zoning code
CHI
APN
34-3S-16-02475-001
UPID
US18-4029667
Jurisdiction
COLUMBIA
Zoning & alternative use
CHI · Lake City, FL
Zoning CHI · permitted uses
CHI · Lake City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1968
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
9
Rooms
2
Lot
14.81 ac
Current owner
From public records · entity-resolved
Morrells Legacy LLC
Entity
Free & Clear · 8 yrs held
Mailing address
212 SW COTTAGE GLN, LAKE CITY, FL 32024-3809
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2020
—
Morrells INC
—
Deed
related
$492,000 · Ameris Bk
Mar 12, 2018
—
Morrells Legacy LLC
Morrell H W L/tr Under Trust
Quit Claim Deed
related
—
Mar 3, 2017
—
H Wayne Morrell
—
Deed
related
$50,000 · Ameris Bank
Dec 5, 2014
$70,000
Karl S Fogelman
Morrell,savanna L
Grant Deed
—
Aug 16, 2006
—
Morrell Emma J Living Trust
Morrell H W & E J Trust
Quit Claim Deed
related
—
Jul 17, 1998
—
Morrell Trust
Morrell,h W & Emma J
Quit Claim Deed
related
$150,000 · Barnett Bank
—
—
Morrell H Wayne Living Trust
—
Deed Of Trust
related
$50,000 · Prosperity Bank
—
—
Morrell H Wayne Living Trust
—
Deed Of Trust
related
$703,342 · Prosperity Bank
—
—
Morrells INC
—
Loan Modification
related
$492,000 · Ameris Bk
—
—
Morrell,h Wayne Living Trust
—
Loan Modification
related
$1,011,109 · Ameris Bk
—
—
Morrell H W & Emma J Trust
—
Deed Of Trust
related
$115,000 · First Fsb Florida
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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