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Property profile & analytics
OFF-MARKET
Estimated value
$5,370,000
Warehouses
622 State Rd 17, Lake Wales, FL 33853
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2687032
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1974
Total area
6,010 SF
Lot
0.89 ac (38,838 SF)
Zoning code
C2R3
APN
273001883000003060
UPID
US18-2687032
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$5.37M
Owner & transaction history
Lw Storage Partners LLC · 3 yrs held
Lw Storage Partners LLC
since 2022
Last sale
$5.4M
4 recorded transactions
Zoning & alternative use
C2R3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lake Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Wales 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
$6,100,000
ML approach
$6,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,375,000
Current use
Blend value · Realmo final
$5.37M
Range $4.83M – $5.91M · ±10% · vs last sale $5.35M (Oct 5 2022)
Last sale anchor
$5.35M
Oct 5 2022
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
$894 / 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
$2,438
Tax year 2023
Assessed value
$244,082
Assessed 2023
Previous assessed
$254,994
-4.3% YoY
Effective rate
1.00%
On assessed value
Assessed land
$56,318
Assessed improvement
$187,764
Land market value
$56,318
Improvement market value
$187,764
Total market value
$244,082
Applied tax rate
90,320.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1974
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
6,010 SF
Lot
0.89 ac (38,838 SF)
Zoning code
C2R3
APN
273001883000003060
UPID
US18-2687032
Jurisdiction
POLK
Zoning & alternative use
C2R3 · Lake Wales, FL
Zoning C2R3 · permitted uses
C2R3 · Lake Wales, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.4M
WAREHOUSE, STORAGE Current
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
1974
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Lw Storage Partners LLC
Entity
Free & Clear · 3 yrs held
Mailing address
485 DEVON PARK DR STE #106, WAYNE, PA 19087-1840
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Oct 5, 2022
$5,350,000
Lw Storage Partners LLC
Eagle Lock Storage LLC
Warranty Deed
—
Oct 14, 2020
—
Eagle Lock Storage LLC
—
Deed
related
$866,403 · Wauchula St Bk
Oct 4, 2017
$1,200,000
Eagle Lock Storage LLC
Rn Allen Family LP LLP
Warranty Deed
$1,800,000 · Harbor Cmnty Bk
—
—
Eagle Lock Storage LLC
—
Deed Of Trust
related
$866,403 · Wauchula St Bk
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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