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Property profile & analytics
OFF-MARKET
Estimated value
$1,030,000
Office buildings
700 State Rd 60th E, Lake Wales, FL 33853-4205
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US18-5148407
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
4,487 SF
Lot
0.85 ac (37,030 SF)
Zoning code
R-3
APN
273012921500001030
UPID
US18-5148407
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
-
Labcorp Paternity Testing Service Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$1.03M
Owner & transaction history
Princewell Holdings LLC · 9 yrs held
Princewell Holdings LLC
since 2016
3 recorded transactions
Zoning & alternative use
R-3 · Lake Wales, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+86.5%
Commercial (general)
$1.3M
+70.8%
Auto repair, garage
$1.1M
+46.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$745,000
Current use
MEDICAL BUILDING
$1,390,000
Change: +87% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,270,000
Change: +71% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,090,000
Change: +47% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$820,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $927k – $1.13M · ±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
$230 / 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
$11,895
Tax year 2023
Assessed value
$598,703
Assessed 2023
Previous assessed
$585,851
+2.2% YoY
Effective rate
1.99%
On assessed value
Assessed land
$166,644
Assessed improvement
$432,059
Land market value
$166,644
Improvement market value
$432,059
Total market value
$598,703
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Heating
NONE
Stories
1
Units
1
Total area
4,487 SF
Lot
0.85 ac (37,030 SF)
Zoning code
R-3
APN
273012921500001030
UPID
US18-5148407
Jurisdiction
POLK
Zoning & alternative use
R-3 · Lake Wales, FL
Zoning R-3 · permitted uses
R-3 · 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
OFFICE BUILDING Current
Est. value
$745,000
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$820,000
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Heating
NONE
Stories
1
Units
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Princewell Holdings LLC
Entity
Mailing address
3480 POLYNESIAN ISLE BLVD, KISSIMMEE, FL 34746-4654
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2016
$550,000
Princewell Holdings LLC
Prime & Investments LLC
Warranty Deed
related
$440,000 · Jp Morgan Chase Bk
Dec 29, 2005
$63,000
Prime & Investments LLC
Mclean,david L & Mary S
Warranty Deed
$405,000 · Midflorida FCU
Dec 2, 2004
$72,300
David L Mclean
Ingleside
Warranty Deed
$65,025 · Citizens Bank & Trust 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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