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Property profile & analytics
OFF-MARKET
Estimated value
$9,380,000
Office buildings
502 Main St Lakeland, FL 33801-5014
Entity Owned
9-yr Hold
Free & Clear
Property ID
US18-4795352
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2022
Total area
48,757 SF
Lot
1.08 ac (46,958 SF)
Zoning code
C-2
APN
242818205000020030
UPID
US18-4795352
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
-
Lakeland Economic Development Council Charitable Organization Social Service Agency
-
Voyager Aerial Engineering Marketing & Advertising Photography Service
-
22Zero Charitable Organization Social Service Agency
-
The Interesting Conversations Company® Business Networking Company Corporate Entertainment Service
-
Catapult Lakeland Business Service Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.83M
Comparable Approach
Comparable
$10.75M
Blend (final)
Blend
$9.38M
Owner & transaction history
Catapult Lakeland INC · 9 yrs held
Catapult Lakeland INC
since 2017
3 recorded transactions
Zoning & alternative use
C-2 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.1M
+15.3%
Medical building
$12.0M
+14.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,650,000
6.5%
$9,830,000
7%
$9,125,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,460,000
Current use
AUTO REPAIR, GARAGE
$12,060,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$11,975,000
Change: +14% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,935,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$8,480,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$9.38M
Range $8.44M – $10.32M · ±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
$192 / 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
Assessed value
$8,898,200
Assessed 2023
Previous assessed
$377,507
+2,257.1% YoY
Assessed land
$364,026
Assessed improvement
$8,534,174
Land market value
$364,026
Improvement market value
$8,534,174
Total market value
$8,898,200
Applied tax rate
91,511.0000
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
2022
Heating
NONE
Stories
3
Units
1
Total area
48,757 SF
Lot
1.08 ac (46,958 SF)
Zoning code
C-2
APN
242818205000020030
UPID
US18-4795352
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
OFFICE BUILDING Current
Est. value
$10.5M
AUTO REPAIR, GARAGE
Est. value
$12.1M
MEDICAL BUILDING
Est. value
$12.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.9M
RETAIL STORES
Est. value
$8.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2022
Heating
NONE
Stories
3
Units
1
Lot
1.08 ac
Current owner
From public records · entity-resolved
Catapult Lakeland INC
Entity
Free & Clear · 9 yrs held
Mailing address
502 E MAIN ST, LAKELAND, FL 33801-5014
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2017
—
Catapult Lakeland INC
City Of Lakeland
Grant Deed
related
—
Dec 8, 2015
$850,000
Catapult Lakeland INC
Lakeland Animal Nutrition INC
Warranty Deed
related
—
—
—
Lakeland Animal Nutrition INC
—
Deed Of Trust
related
$600,000,000 · Bank Of America
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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