Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5245 Us Hwy 98th N Lakeland, FL 33809-0516

    • Medical offices
    • 12,405 SF
    • 5.93 lot acres
    OFF-MARKET
    Value Estimations
    $1,595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2871558
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Advanced Internal Medicine Care / Medical Clinic
    • Venue 98 / Wedding Service
    • Oficina Dr Vivian Virela / Pediatrician / Physician
    • Dr. Luis Garcia Rivera / Medical Clinic
    • Dr. Vivian Virella / Physician

    Property Details for 5245 Us Hwy 98th N

    Year built
    1984
    Lot size
    5.93 lot acres
    Property size
    12,405 SF
    Zone code
    C3R1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    232725000000031040
    APU
    232725000000031040

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,082,000
      Market price range: $712k - $2.06M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9714
    Latitude
    28.1107
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,113
    $220,107
    $1,215,525
    $1,435,632
    -
    $220,107
    $1,215,525
    $1,435,632

    Comparable in this City

    • Value Estimation
      $940,000
      4,464 SF

      4316 Us Hwy 98th N Ste, Unit 100

      MEDICAL BUILDING • 4,464 SF
      4316 Us Hwy 98th N Ste, Lakeland, FL 33809-3859
      View Details
    • Value Estimation
      $2,435,000
      16,281 SF

      6500 Socrum Loop Rd

      MEDICAL BUILDING • 16,281 SF
      6500 Socrum Loop Rd, Lakeland, FL 33809-4179
      View Details
    • Value Estimation
      $1,680,000
      11,825 SF

      4120 Us Hwy 98th N

      MEDICAL BUILDING • 11,825 SF
      4120 Us Hwy 98th N, Lakeland, FL 33809-3854
      View Details
    • Value Estimation
      $785,000
      5,192 SF

      5528 Us Hwy 98th N

      MEDICAL BUILDING • 5,192 SF
      5528 Us Hwy 98th N, Lakeland, FL 33809-3104
      View Details
    • Value Estimation by Request
      2,320 SF

      6440 Pearce Rd

      MEDICAL BUILDING • 2,320 SF
      6440 Pearce Rd, Lakeland, FL 33809-4191
      View Details
    • Value Estimation by Request
      1,779 SF

      5608 Us Hwy 98th N

      MEDICAL BUILDING • 1,779 SF
      5608 Us Hwy 98th N, Lakeland, FL 33809-3105
      View Details

    Similar Nearby for Sale

    • $165,000

      Spacious 55+ Community Home

      Two-bedroom, two-bath home in a friendly 55+ community.
      317 Monroe Dr, Lakeland, FL 33809
      View Details
    • $439,999
      2,432 SF

      Lakeland Office Building - Great Location

      Prime Lakeland Office, High Visibility, Ample Parking
      932 Swann Dr, Lakeland, FL 33809
      View Details
    • $779,000
      3,040 SF

      Lakeland Office Building For Sale

      Single-story office building in SE Lakeland with modern design.
      5473 Us Highway 98 S, Lakeland, FL 33809
      View Details
    • $650,000
      1,008 SF

      Lakeland Mixed-Use Development Opportunity

      3.51 Acres, I-4 Proximity, High Visibility
      8105 State Road 33, Lakeland, FL 33809
      View Details
    • $990,000
      Pending

      Lakeland Land Parcel For Sale

      11.29 acre parcel near I-4, suitable for rezoning.
      Old Polk City Rd, Lakeland, FL 33809
      View Details
    • $285,000
      5.95 Acres

      Land on US Highway 98

      5.95 acres of residential land with highway frontage.
      Us Highway 98 N, Lakeland, FL 33809
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Dental Office in Lakeland Power Center

      Built-out dental office space in a high-visibility Lakeland power center.
      4005-4159 N Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing

      Commercial Land Near Interstate 4

      Commercial land for rent with high visibility and traffic.
      1012 Woodland Dr, Lakeland, FL 33809
      View Details
    • Contact for pricing
      84,899 SF

      Lakeland Retail Center - Highway 98

      Prime Lakeland retail space available.
      4901-4997 Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Lakeland Square

      Retail space available across from Lakeland Square Mall.
      4215-4275 Us Highway 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing

      High Visibility Lakeland Power Center

      Retail spaces and outparcels available in high-traffic Lakeland location.
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing
      537,354 SF

      I-4 Logistics Hub: Premier Space

      537,354 SF Industrial Space Available
      8401 Fl-33, Lakeland, FL 33809
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5245 Us Hwy 98th N
    Lakeland, FL 33809-0516
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.