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Property profile & analytics
OFF-MARKET
Estimated value
$1,440,000
Drug stores
500 11th St Lake Wales, FL 33853-4901
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-2395360
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
12,538 SF
Lot
1.8 ac (78,582 SF)
Zoning code
MSR1
APN
273012000000011040
UPID
US18-2395360
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CDReload - Online Bitcoin ATM Crypto Atm Atm
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Buy Bitcoin Crypto Atm
-
Primo Water Refill Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.44M
Owner & transaction history
Broad Street Three LLC · 8 yrs held
Broad Street Three LLC
since 2018
5 recorded transactions
Zoning & alternative use
MSR1 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+158.2%
Office building
$2.1M
+133.6%
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 Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Wales 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$890,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,300,000
Change: +158% · Conversion: Moderate
OFFICE BUILDING
$2,080,000
Change: +134% · Conversion: Easy
Blend value · Realmo final
$1.44M
Range $1.30M – $1.58M · ±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
$115 / 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
$38,160
Tax year 2023
Assessed value
$1,926,374
Assessed 2023
Previous assessed
$1,904,646
+1.1% YoY
Effective rate
1.98%
On assessed value
Assessed land
$727,022
Assessed improvement
$1,199,352
Land market value
$727,022
Improvement market value
$1,199,352
Total market value
$1,926,374
Applied tax rate
90,320.0000
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
12,538 SF
Lot
1.8 ac (78,582 SF)
Zoning code
MSR1
APN
273012000000011040
UPID
US18-2395360
Jurisdiction
POLK
Zoning & alternative use
MSR1 · Lake Wales, FL
Zoning MSR1 · permitted uses
MSR1 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$890,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
1.8 ac
Current owner
From public records · entity-resolved
Broad Street Three LLC
Entity
Mailing address
156 NEW BRITAIN AVE, ROCKY HILL, CT 06067-5100
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2018
$4,100,000
Broad Street Three LLC
Lake Wales Station LLC
Grant Deed
$2,200,000 · Branch Bk&tr
Mar 16, 2015
—
Lake Wales Station LLC
Cole Cv Lake Wales Fl LLC
Quit Claim Deed
related
—
Mar 16, 2015
$3,500,000
Lake Wales Station LLC
Cole Cv Lake Wales Fl LLC
Grant Deed
related
—
Nov 5, 2010
$3,180,900
Cole Cv Lake Wales Fl LLC
Sembler Edp Ptshp 10 Ltd
Grant Deed
—
Sep 22, 1998
$175,000
Sembler E D P Partnership #10
Goodwin,jack K & Julia E
Grant Deed
$2,450,590 · Wachovia Bank NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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