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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Strip malls
5515 Us Hwy 98th N Lakeland, FL 33809-3133
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-3918271
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Total area
6,578 SF
Lot
0.66 ac (28,601 SF)
Zoning code
C-3
APN
232724008900001021
UPID
US18-3918271
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
-
Perfect Cut's Barber Shop Corp. Barber Shop
-
PROVIDENCE PHARMACY Pharmacy
-
Apex Injury & Rehabilitation Alternative Medicine Practice
-
NORTH 98 Vapor House (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Satellite TV Superstore Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$965k
Owner & transaction history
Lakeland North Plaza LLC · 7 yrs held
Lakeland North Plaza LLC
since 2018
3 recorded transactions
Zoning & alternative use
C-3 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+27.4%
Retail stores
$1.2M
+1.5%
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%
$1,425,000
6.5%
$1,315,000
7%
$1,220,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,205,000
Current use
OFFICE BUILDING
$1,535,000
Change: +27% · Conversion: Moderate
RETAIL STORES
$1,225,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$147 / 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
$11,310
Tax year 2023
Assessed value
$661,858
Assessed 2023
Previous assessed
$651,615
+1.6% YoY
Effective rate
1.71%
On assessed value
Assessed land
$171,600
Assessed improvement
$490,258
Land market value
$171,600
Improvement market value
$490,258
Total market value
$661,858
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
6,578 SF
Lot
0.66 ac (28,601 SF)
Zoning code
C-3
APN
232724008900001021
UPID
US18-3918271
Jurisdiction
POLK
Zoning & alternative use
C-3 · Lakeland, FL
Zoning C-3 · permitted uses
C-3 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
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
1986
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Lakeland North Plaza LLC
Entity
Mailing address
1048 S FLORIDA AVE, LAKELAND, FL 33803-1118
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2018
$720,000
Lakeland North Plaza LLC
Ane INC
Warranty Deed
$517,500 · Centerstate Bk NA
Jan 7, 2005
$625,000
Ane INC
Hazzard Corp
Warranty Deed
$600,000 · Hazzard Corp
—
—
Ane INC
—
Loan Modification
related
$389,348 · Private Individual
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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