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    Property profile & analytics

    70 Plz Ave Lake Placid, FL 33852-5251

    • Strip malls
    • 20,800 SF
    • 9.16 lot acres
    OFF-MARKET
    Value Estimations
    $3,340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5305007
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Save A Lot / Grocery & Convenience Store / Food Market
    • Margo Bitcoin ATM / Crypto Atm / Atm
    • Western Union / Bank / Credit Union
    • Coinstar / Bank / Credit Union
    • Wells Fargo ATM / Atm

    Property Details for 70 Plz Ave

    Year built
    1972
    Construction
    FRAME
    Lot size
    9.16 lot acres
    Property size
    20,800 SF
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    P-31-36-30-A00-0322-0000
    APU
    P313630A0003220000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,400,000
      6.5%
      $3,140,000
      7%
      $2,915,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,418,000
      Market price range: $1.48M - $3.42M
      AI Estimate
      $3,466,000
      Market price range: $1.48M - $3.47M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,300,000
      Current use
      RESTAURANT
      $5,185,000
      Change: +125% Conversion: Difficult
      MEDICAL BUILDING
      $3,420,000
      Change: +49% Conversion: Difficult
      OFFICE BUILDING
      $3,400,000
      Change: +48% Conversion: Moderate
      RETAIL STORES
      $3,145,000
      Change: +37% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,765,000
      Change: +20% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,580,000
      Change: +12% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,340,000
      Change: +2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Highlands
    State
    Florida
    Longitude
    -81.3571
    Latitude
    27.2986
    CBSA code
    42700
    CBSA name
    SEBRING, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $60,362
    $0.00
    $3,327,255
    $3,327,255
    -
    $0.00
    $3,327,255
    $3,327,255

    Comparable in this City

    • Value Estimation by Request
      1,050 SF

      407 Plz Ave

      SHOPPING CENTER, STRIP CENTER • 1,050 SF
      407 Plz Ave, Lake Placid, FL 33852-9518
      View Details
    • Value Estimation
      $740,000
      4,650 SF

      708 Us 27th S

      SHOPPING CENTER, STRIP CENTER • 4,650 SF
      708 Us 27th S, Lake Placid, FL 33852-9515
      View Details
    • Value Estimation
      $530,000
      5,700 SF

      304 Interlake Blvd

      SHOPPING CENTER, STRIP CENTER • 5,700 SF
      304 Interlake Blvd, Lake Placid, FL 33852-9653
      View Details
    • Value Estimation by Request
      3,134 SF

      219 Main Ave, Unit 101

      SHOPPING CENTER, STRIP CENTER • 3,134 SF
      219 Main Ave, Lake Placid, FL 33852-2611
      View Details
    • Value Estimation by Request
      950 SF

      66 Tower St

      SHOPPING CENTER, STRIP CENTER • 950 SF
      66 Tower St, Lake Placid, FL 33852-3801
      View Details
    • Value Estimation by Request
      1,200 SF

      12 Triangle Park

      SHOPPING CENTER, STRIP CENTER • 1,200 SF
      12 Triangle Park, Lake Placid, FL 33852-7901
      View Details

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      Free-Standing Former Bank Branch

      4,150 SF former bank branch with drive-thru on 0.65 acres.
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      Market 27 Business Opportunity

      Avon Park eatery and convenience store for sale with license.
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    Similar Nearby for Lease

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      Lake Placid Office Space

      High-traffic US-27 location, flexible office space.
      708 Us Highway 27, Lake Placid, FL 33852
      View Details
    • Contact for pricing

      Retail Space on US Highway

      Renovated retail space with highway visibility and ample parking.
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      View Details
    • $30,000

      Lakefront Log Cabin Business Opportunity

      Unique live, work, and play opportunity on Lake Buck.
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    • $2,000 /Mo

      Lakefront Highway Frontage Log Cabin

      Lakefront log cabin with highway frontage, ideal for small business.
      2200 Us 27 Hwy S, Lake Placid, FL 33852
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      Lake Placid Warehouse For Lease

      17,360 SF Industrial Space, Great Location
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      Updated Apartment in Lake Placid

      Recently updated 3-bedroom apartment in central Lake Placid.
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      View Details
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    Lake Placid, FL 33852-5251
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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