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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Office buildings
502 Hwy 640 Mulberry, FL 33860
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4417494
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
9,359 SF
Lot
2.99 ac (130,375 SF)
APN
233025000000033010
UPID
US18-4417494
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
$1.89M
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.53M
Owner & transaction history
Lbc1 Reo LLC · 3 yrs held
Lbc1 Reo LLC
since 2022
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Mulberry submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mulberry 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%
$2,045,000
6.5%
$1,885,000
7%
$1,750,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,305,000
Current use
AUTO REPAIR, GARAGE
$2,280,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±10% · vs last sale $1.55M (Oct 10 2022)
Last sale anchor
$1.55M
Oct 10 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
$163 / 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
$16,706
Tax year 2023
Assessed value
$1,052,839
Assessed 2023
Previous assessed
$1,038,944
+1.3% YoY
Effective rate
1.59%
On assessed value
Assessed land
$26,049
Assessed improvement
$1,026,790
Land market value
$26,049
Improvement market value
$1,026,790
Total market value
$1,052,839
Applied tax rate
91,000.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1997
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
9,359 SF
Lot
2.99 ac (130,375 SF)
APN
233025000000033010
UPID
US18-4417494
Jurisdiction
POLK
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
OFFICE BUILDING Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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
1997
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
2.99 ac
Current owner
From public records · entity-resolved
Lbc1 Reo LLC
Entity
Mailing address
1050 INDUSTRIAL BLVD, WATKINSVILLE, GA 30677-2700
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2022
$850,100
Lbc1 Reo LLC
Dale C Rossman
Trustees Deed
related
—
—
—
Dale C Rossman
—
Deed Of Trust
related
$1,500,000 · Regions Bank
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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