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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    947 Johnson Ave Lakeland, FL 33803-1164

    • Schools
    • 15,634 SF
    • 0.71 lot acres
    OFF-MARKET
    Value Estimations
    $2,165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1133687
    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

    • Joe K. & Alberta Blanton Nursing Building / College

    Property Details for 947 Johnson Ave

    Year built
    2012
    Lot size
    0.71 lot acres
    Property size
    15,634 SF
    Zone code
    RA-4
    Property type
    Schools
    APN
    242819220100008101
    APU
    242819220100008101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,471,000
      Market price range: $826k - $2.58M

    • Alternative Use

      Use
      Estimation
      COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
      $2,555,000
      Current use
      RETAIL STORES
      $2,915,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9503
    Latitude
    28.0314
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN 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
    $0.00
    $112,996
    $2,050,187
    $2,163,183
    -
    $112,996
    $2,050,187
    $2,163,183

    Comparable in this City

    • Value Estimation
      $1,515,000
      16,280 SF

      933 Johnson Ave

      COLLEGE, UNIVERSITY, VOC SCHOOL • 16,280 SF
      933 Johnson Ave, Lakeland, FL 33803
      View Details
    • Value Estimation
      $870,000
      5,788 SF

      727 Park St

      COLLEGE, UNIVERSITY, VOC SCHOOL • 5,788 SF
      727 Park St, Lakeland, FL 33803-1339
      View Details
    • Value Estimation by Request
      0.92 Acres

      138 Bonnet Spgs Blvd

      CHARITABLE ORGANIZATION • 0.92 Acres
      138 Bonnet Spgs Blvd, Lakeland, FL 33803
      View Details
    • Value Estimation
      $17,705,000
      5,800 SF

      1625 Ariana St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 5,800 SF
      1625 Ariana St, Lakeland, FL 33803-1739
      View Details
    • Value Estimation
      $11,055,000
      3,621 SF

      1100 Oakbridge Pkwy, Unit 20

      PROFESSIONAL CLUBS/ASSOCIATIONS • 3,621 SF
      1100 Oakbridge Pkwy, Lakeland, FL 33803-5947
      View Details
    • Value Estimation by Request
      7.43 Acres

      Oakbridge Blvd

      SHOPPING CENTER COMMON AREA • 7.43 Acres
      Oakbridge Blvd, Lakeland, FL 33803
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Lakeland Investment Property For Sale

      Investment property in Lakeland's Midtown Professional District, in updated condition.
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    • $3,800,000
      14,591 SF

      Lakeland Auto Dealership - Prime Location

      Thriving Auto Dealership, High Traffic Area
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    • $575,000

      Lakeland Retail Investment Opportunity

      Well-maintained retail property with established tenants and strong income potential.
      119 Allamanda Dr, Lakeland, FL 33803
      View Details
    • $339,900
      Pending

      Retail Opportunity in South Lakeland

      High-visibility corner lot near Southgate Shopping Center.
      110 Easton Dr, Lakeland, FL 33803
      View Details
    • $265,000
      0.25 Acres

      Residential Land in Lakeland, FL

      0.25 acre lot in a sought-after Lakeland neighborhood.
      408 W Maxwell St, Lakeland, FL 33803
      View Details
    • $1,200,000

      Lakeland Investment Property For Sale

      Investment property in Lakeland's Midtown Professional District, in updated condition.
      924 S Florida Ave, Lakeland, FL 33803
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      236,522 SF

      Lakeland Retail Space Available

      High-demand shopping center space in South Lakeland.
      37 & Drane Fld Rd, Lakeland, FL 33803
      View Details
    • Contact for pricing
      142,192 SF

      Grove Park Shopping Center: Lakeland, FL

      Medical Office & Retail Space Available
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      View Details
    • Contact for pricing
      3,000 SF

      Lakeland Warehouse with Office Space

      3,000 SF warehouse with office near Polk Parkway.
      3544 Waterfield Pkwy, Lakeland, FL 33803
      View Details
    • Contact for pricing
      2,375 SF

      Retail and Office Center Space

      Mixed-use retail and office center near Polk Parkway.
      1314-1326 Town Center Dr, Lakeland, FL 33803
      View Details
    • Contact for pricing
      4,800 SF

      Lakeland Dock High Warehouse Space

      26,400 SF warehouse with units from 4,800-16,800 SF.
      3545 Reynolds Rd, Lakeland, FL 33803
      View Details
    • Contact for pricing
      6,547 SF

      Retail/Office Center Near Polk Parkway

      Mixed-use retail and office center in high-growth Lakeland market.
      1425-1449 Town Center Dr, Lakeland, FL 33803
      View Details
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    947 Johnson Ave
    Lakeland, FL 33803-1164
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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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