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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Turn key restaurants
640 Main St Lakeland, FL 33801-5015
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-3272766
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1945
Total area
13,932 SF
Lot
0.59 ac (25,761 SF)
Zoning code
C-2
APN
242818209000000050
UPID
US18-3272766
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
-
Bloom Shakalaka (Bike/Boat/Book/etc) Store Florist
-
Sabu Restaurant
-
Super Duper Spot Restaurant
-
ATO Poke Restaurant
-
King State Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$930k
Owner & transaction history
640 Main Partners LLC · 8 yrs held
640 Main Partners LLC
since 2018
7 recorded transactions
Zoning & alternative use
C-2 · Lakeland, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$67 / 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
$28,377
Tax year 2023
Assessed value
$1,402,755
Assessed 2023
Previous assessed
$1,307,395
+7.3% YoY
Effective rate
2.02%
On assessed value
Assessed land
$199,640
Assessed improvement
$1,203,115
Land market value
$199,640
Improvement market value
$1,203,115
Total market value
$1,402,755
Applied tax rate
91,511.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1945
Heating
NONE
Stories
1
Units
1
Total area
13,932 SF
Lot
0.59 ac (25,761 SF)
Zoning code
C-2
APN
242818209000000050
UPID
US18-3272766
Jurisdiction
POLK
Zoning & alternative use
C-2 · Lakeland, FL
Zoning C-2 · permitted uses
C-2 · 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.
Building & site characteristics
From public records
Year built
1945
Heating
NONE
Stories
1
Units
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
640 Main Partners LLC
Entity
Free & Clear · 8 yrs held
Mailing address
4100 FRONTAGE RD S STE #101, LAKELAND, FL 33815-3201
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2018
$1,003,900
640 Main Partners LLC
Hamari Holding Co LLC Coc
Trustees Deed
—
Aug 18, 2006
—
Francis D Drake
Triad Properties I Lc
Quit Claim Deed
related
—
Mar 14, 2006
$850,000
Triad Properties I Lc
Coyne International Ents Corp
Warranty Deed
$652,500 · Mercantile Bank
Mar 30, 1999
$240,000
Coyne Int'l Enterprises Corp
Myers,marjorie H
Grant Deed
—
—
—
Properties Triad II
—
Deed Of Trust
related
$56,375 · Macon Tomlinson
—
—
Properties Triad II
—
Deed Of Trust
related
$645,000 · Mercantile Bank
—
—
Triad Properties I Lc
—
Deed Of Trust
related
$652,500 · Mercantile Bank
—
—
Hamari Holding Co LLC
—
Loan Modification
related
$265,912 · Centennial Bk
—
—
Hamari Holding Co LLC
—
Loan Modification
related
$183,492 · Centennial Bk
—
—
Properties Triad II
—
Deed Of Trust
related
$645,000 · Pilot Bank
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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