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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Grocery and convenience stores
851 Florida Ave Lakeland, FL 33801-5272
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-1223438
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2012
Total area
4,950 SF
Lot
0.68 ac (29,651 SF)
Zoning code
C-2
APN
232824120000007012
UPID
US18-1223438
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
-
Western Union Bank Credit Union
-
7-Eleven Grocery & Convenience Store
-
Amazon Locker - Snip Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$990k
Comparable Approach
Comparable
$687k
Blend (final)
Blend
$1.02M
Owner & transaction history
Long Term R E Investments LLC · 10 yrs held
Long Term R E Investments LLC
since 2015
7 recorded transactions
Zoning & alternative use
C-2 · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+35.0%
Medical building
$1.2M
+34.0%
Office building
$1.1M
+17.1%
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%
$1,075,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Current use
AUTO REPAIR, GARAGE
$1,225,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$1,215,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$1,060,000
Change: +17% · Conversion: Moderate
RETAIL STORES
$860,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$205 / 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
$14,279
Tax year 2023
Assessed value
$783,297
Assessed 2023
Previous assessed
$782,185
+0.1% YoY
Effective rate
1.82%
On assessed value
Assessed land
$385,476
Assessed improvement
$397,821
Land market value
$385,476
Improvement market value
$397,821
Total market value
$783,297
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2012
Heating
NONE
Stories
1
Units
1
Total area
4,950 SF
Lot
0.68 ac (29,651 SF)
Zoning code
C-2
APN
232824120000007012
UPID
US18-1223438
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$860,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
2012
Heating
NONE
Stories
1
Units
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Long Term R E Investments LLC
Entity
Mailing address
PO BOX 955, TARPON SPRINGS, FL 34688-0955
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2015
—
Long Term R E Investments LLC
Yuma Mesa Shopping Center
Grant Deed
related
—
Sep 17, 2013
$1,925,000
Yuma Mesa Shopping Center
851 S Florida Avenue LLC
Grant Deed
—
Apr 12, 2012
$625,000
851 S Fl Ave LLC
Smith,m Ray & Janet B
Warranty Deed
—
May 16, 2011
—
M Ray Smith
Friendly Auto Ctr LLC Coc
Trustees Deed
related
—
Jan 7, 2009
$950,000
Friendly Auto Center LLC
Demiing,robert S
Grant Deed
—
Dec 2, 2008
$950,000
Friendly Auto Center LLC
Demiing,robert S
Warranty Deed
$619,822 · M Ray & Janet B Smith
—
—
Long Term Re Investments LLC
—
Deed Of Trust
related
$1,000,000 · American Momentum 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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