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Property profile & analytics
OFF-MARKET
Estimated value
$7,180,000
Turn key restaurants
10 Bay Esplanade Clearwater, FL 33767-1603
Entity Owned
~
Est. High Equity
Property ID
US18-9339176
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1926
Construction
WOOD FRAME
Total area
7,561 SF
Lot
0.77 ac (33,650 SF)
APN
05-29-15-16362-008-0020
UPID
US18-9339176
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
-
Suncoast Hospice Beach Stroll Nursing Home
-
Palm Pavilion Beachside Grill & Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.18M
Blend (final)
Blend
$7.18M
Owner & transaction history
Mhg Palm Pavilion Hotel LP
Mhg Palm Pavilion Hotel LP
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.0M
+132.9%
Auto repair, garage
$4.4M
+14.6%
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 Clearwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clearwater 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,025,000
Change: +133% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,440,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$7.18M
Range $6.46M – $7.90M · ±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
$950 / 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
$100,146
Tax year 2023
Assessed value
$6,710,000
Assessed 2023
Previous assessed
$6,150,000
+9.1% YoY
Effective rate
1.49%
On assessed value
Land market value
$6,183,364
Improvement market value
$526,636
Total market value
$6,710,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1926
Construction
WOOD FRAME
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
5
Total area
7,561 SF
Lot
0.77 ac (33,650 SF)
APN
05-29-15-16362-008-0020
UPID
US18-9339176
Jurisdiction
PINELLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1926
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
5
Lot
0.77 ac
Current owner
From public records · entity-resolved
Mhg Palm Pavilion Hotel LP
Entity
Mailing address
10 BAY ESPLANADE, CLEARWATER, FL 33767-1603
Ownership since
2026
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
Jan 29, 2026
$9,500,000
Mhg Palm Pavilion Hotel LP
Palm Pavilion INC
Special Warranty Deed
—
Jan 29, 2026
$5,600,000
Sixth Flag Planted LLC
Sunset Green Flash LLC
Special Warranty Deed
—
Dec 14, 2007
$712,700
Sunset Green Flash LLC
Hamilton,howard H & Jean B
Warranty Deed
—
Dec 14, 2007
—
Sunset Green Flash LLC
Owner,record
Grant Deed
related
—
—
—
Sunset Green Flash LLC
—
Deed Of Trust
related
$870,707 · Fifth Third Bank
—
—
Pavilion Of Clearwater INC
—
Deed Of Trust
related
$60,000 · First National Bank Florida
—
—
Palm Pavilion Clearwater INC
—
Deed Of Trust
related
$120,000 · First National Bank Florida
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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