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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Assisted living facilities
610 Lime St Lakeland, FL 33801-5444
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US18-1066809
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1963
Total area
16,956 SF
Lot
0.87 ac (38,002 SF)
Zoning code
MF22
APN
242818205000023190
UPID
US18-1066809
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
-
Grace Manor at Lake Morton Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.59M
Owner & transaction history
Lake Morton Retirement Hm LLC · 17 yrs held
Lake Morton Retirement Hm LLC
since 2009
4 recorded transactions
Zoning & alternative use
MF22 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.5M
+19.4%
Commercial (general)
$2.4M
+14.7%
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)
$2,095,000
Current use
OFFICE BUILDING
$2,500,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,400,000
Change: +15% · Conversion: Difficult
RESTAURANT
$1,890,000
Change: -10% · Conversion: Difficult
MEDICAL BUILDING
$1,855,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$1,755,000
Change: -16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,725,000
Change: -18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,690,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±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
$93 / 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
$27,428
Tax year 2023
Assessed value
$1,504,564
Assessed 2023
Previous assessed
$1,435,763
+4.8% YoY
Effective rate
1.82%
On assessed value
Assessed land
$94,998
Assessed improvement
$1,409,566
Land market value
$94,998
Improvement market value
$1,409,566
Total market value
$1,504,564
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
1963
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Total area
16,956 SF
Lot
0.87 ac (38,002 SF)
Zoning code
MF22
APN
242818205000023190
UPID
US18-1066809
Jurisdiction
POLK
Zoning & alternative use
MF22 · Lakeland, FL
Zoning MF22 · permitted uses
MF22 · 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RESTAURANT
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.7M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1963
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Lake Morton Retirement Hm LLC
Entity
Mailing address
PO BOX 519, AUBURNDALE, FL 33823-0519
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2009
$1,200,000
Lake Morton Retirement Hm LLC
Morrow Anastasia C Trust
Warranty Deed
$1,200,000 · Morrow Anastasia Trust
—
—
Lake Morton Retirement Hm LLC
—
Loan Modification
related
$4,292,000 · Berkadia Com'l Mtg
—
—
Lake Morton Retirement Hm LLC
—
Deed Of Trust
related
$3,045,000 · Platinum Bk
—
—
Morrow Anastasia C Trust
—
Deed Of Trust
related
$50,000 · 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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