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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Assisted living facilities
605 Carpenters Way Lakeland, FL 33809-3919
Entity Owned
Free & Clear
Property ID
US18-4985315
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1999
Total area
20,843 SF
Lot
2.73 ac (118,745 SF)
Zoning code
PUD
APN
232736000000011030
UPID
US18-4985315
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
-
Savannah Cottage of Lakeland Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$3.67M
Owner & transaction history
605 Carpenters Way LLC
605 Carpenters Way LLC
since 2025
Last sale
$3.8M
5 recorded transactions
Zoning & alternative use
PUD · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.9M
+90.6%
Commercial (general)
$4.7M
+82.0%
Restaurant
$3.3M
+27.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$2,575,000
Current use
OFFICE BUILDING
$4,910,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,685,000
Change: +82% · Conversion: Difficult
RESTAURANT
$3,270,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,720,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$2,280,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±10% · vs last sale $3.83M (Dec 23 2025)
Last sale anchor
$3.83M
Dec 23 2025
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
$176 / 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
$56,245
Tax year 2023
Assessed value
$3,085,326
Assessed 2023
Previous assessed
$2,982,015
+3.5% YoY
Effective rate
1.82%
On assessed value
Assessed land
$362,337
Assessed improvement
$2,722,989
Land market value
$362,337
Improvement market value
$2,722,989
Total market value
$3,085,326
Applied tax rate
91,510.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Units
1
Total area
20,843 SF
Lot
2.73 ac (118,745 SF)
Zoning code
PUD
APN
232736000000011030
UPID
US18-4985315
Jurisdiction
POLK
Zoning & alternative use
PUD · Lakeland, FLZoning PUD · permitted uses
PUD · Lakeland, FL
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$2.6M
OFFICE BUILDING
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.7M
RESTAURANT
Est. value
$3.3M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.3M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
MEDICAL 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
2.73 ac
Current owner
From public records · entity-resolved
605 Carpenters Way LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4611 JOHNSON RD, COCONUT CREEK, FL 33073-4361
Ownership since
2025
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
Dec 23, 2025
$3,825,000
605 Carpenters Way LLC
Slm Lakeland LLC
Deed
—
Jan 24, 2017
$5,500,000
Slm Lakeland LLC
Cr Investments Of Florida LLC
Grant Deed
—
Jun 22, 2012
$363,000
Milton L Cruz
Cr Investments Of Fl LLC
Grant Deed
—
Feb 11, 1999
$631,000
Als-wovenhearts INC
Socia,clarence J & Delores J
Grant Deed
—
—
—
Cr Investments Of Fl LLC
—
Deed Of Trust
related
$3,600,000 · Lancaster Pollard Mortgage Co
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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