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    2051 Gandy Blvd St. Petersburg, FL 33702
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    2051 Gandy Blvd, St. Petersburg, FL 33702

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    • Specialty properties
    • 960 SF
    • 3.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motocave - Luxury Car Condos / Storage Facility / Parking Lot & Garage

    Property Details for 2051 Gandy Blvd

    Year built
    2024
    Lot size
    3.75 lot acres
    Property type
    Specialty properties
    Property subtype
    Self storage facilities

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    St. Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6616
    Latitude
    27.8545

    Comparable in this City

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      13.68 Acres

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      2,736 SF

      6408 Haines N Rd

      CHARITABLE ORGANIZATION
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      5.55 Acres

      I 275

      CREMATORIUM, MORTUARY
      I 275, Saint Petersburg, FL 33702
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    • Value Estimation
      $6,965,000
      54,500 SF

      10596 Gandy N Blvd

      CHARITABLE ORGANIZATION
      10596 Gandy N Blvd, Saint Petersburg, FL 33702-1422
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    • Value Estimation
      $1,115,000
      4,110 SF

      3200 74th N Ave

      CHARITABLE ORGANIZATION
      3200 74th N Ave, Saint Petersburg, FL 33702-5524
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    • Value Estimation by Request
      1,800 SF

      Gandy Blvd

      CREMATORIUM, MORTUARY
      Gandy Blvd, Saint Petersburg, FL 33702
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    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Gandy Boulevard Commercial Property Opportunity

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    • New
      $420,000
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      Secure Garage Condo Storage

      Corner garage condo offers private, secured automotive storage with a built-in restroom and HVAC.
      2051 Gandy Blvd N, St Petersburg, FL 33702
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      Luxury Car/RV Condo Storage

      New auto and RV storage with secure, convenient access.
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      Luxury Motor Storage Condo

      Premium vehicle storage condo near Clubhouse with private bathroom.
      2051 Gandy Blvd, St Petersburg, FL 33702
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    • $899,000
      1,528 SF

      Commercial Property on Haines Road

      Commercial property with office, workshop, and storage yard.
      6600 Haines Rd N, St Petersburg, FL 33702
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    Similar Nearby for Lease

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      Renovated Office Space Available

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      10 SF

      Fenced, Lit, Paved Parking Site

      10.91 acre fenced, lit, paved site for lease.
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      Renovated Office Destination in Tampa

      Extensively renovated office spaces in St. Petersburg, Florida.
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      33,755 SF

      Retail Space in Winn-Dixie Center

      Retail space available in Winn-Dixie anchored shopping center.
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      Renovated Office Destination in Tampa

      Extensively renovated office and retail spaces in St. Petersburg, FL.
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      11,324 SF

      Retail Center Near US-92

      Retail center north of St. Petersburg with high traffic.
      7751-8229 9Th St N, St Petersburg, FL 33702
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    St. Petersburg, FL 33702
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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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