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Property profile & analytics
OFF-MARKET
Estimated value
$40,450,000
Apartment buildings
101 Park Pl Blvd Clearwater, FL 33759
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-2268801
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1998
Construction
FRAME
Total area
181,152 SF
Lot
12.13 ac (528,492 SF)
APN
17-29-16-85546-000-0020
UPID
US18-2268801
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$40.45M
Blend (final)
Blend
$40.45M
Owner & transaction history
Grpf LLC · 7 yrs held
Grpf LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$42.1M
+49.3%
Retail stores
$37.7M
+33.7%
Warehouse, storage
$36.9M
+31.0%
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)
$28,170,000
Current use
OFFICE BUILDING
$42,060,000
Change: +49% · Conversion: Moderate
RETAIL STORES
$37,660,000
Change: +34% · Conversion: Difficult
WAREHOUSE, STORAGE
$36,900,000
Change: +31% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$31,895,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$40.45M
Range $36.41M – $44.50M · ±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
$223 / 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
$655,724
Tax year 2023
Assessed value
$36,500,000
Assessed 2023
Previous assessed
$36,000,000
+1.4% YoY
Effective rate
1.80%
On assessed value
Land market value
$7,847,559
Improvement market value
$28,652,441
Total market value
$36,500,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
3
Units
156
Bathrooms
273
Total area
181,152 SF
Lot
12.13 ac (528,492 SF)
APN
17-29-16-85546-000-0020
UPID
US18-2268801
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) Current
Est. value
$28.2M
OFFICE BUILDING
Est. value
$42.1M
RETAIL STORES
Est. value
$37.7M
WAREHOUSE, STORAGE
Est. value
$36.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.9M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1998
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
3
Units
156
Bathrooms
273
Lot
12.13 ac
Current owner
From public records · entity-resolved
Grpf LLC
Entity
Mailing address
2922 HATHAWAY RD, RICHMOND, VA 23225-1724
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2018
$78,000,000
Grpf LLC
Grand Reserve Borrower LLC
Grant Deed
$50,000,000 · Newmark Knight Frank
Nov 29, 2018
—
John Ascenzo
Grand Reserve Borrower LLC
Affidavit Of Death
related
—
May 15, 2015
—
Grand Reserve Borrower LLC
Standard Grand Reserve LLC
Special Warranty Deed
$45,375,000 · Hsbc Bank USA
Aug 20, 2010
$57,500,000
Standard Grand Reserve LLC
Grand Reserve Prop Owner Vef V
Grant Deed
—
Sep 16, 2008
—
Reserve Prop Owner-vef V Grand
—
Deed Of Trust
related
$64,500,000 · Arbor Realty Participation LLC
Feb 7, 2007
—
Park Isle Condominium Development R
Park Isle Condominium Development L
Special Warranty Deed
—
Dec 23, 2005
$70,500,000
Park Isle Condominium Dev LLC
California St Teachers Retire
Grant Deed
—
Dec 23, 2005
—
Park Isle Condominium Dev LLC
California St Teachers Retire
Deed Of Trust
related
$68,500,000 · General Electric Capital Corp
Oct 5, 2000
$37,853,000
California State Teachers Reti
Grand Reserve At Park Place LP
Grant Deed
—
Mar 11, 1997
—
Grand Reserve At Park Place LP
—
Grant Deed
related
$22,275,000 · Southtrust Bank Alabama NA
Jan 27, 1997
$3,500,000
Grand Reserve Park Place LP
Storz Ophthalmics INC
Grant Deed
—
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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