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Property profile & analytics
OFF-MARKET
Estimated value
$2,355,000
Strip malls
102 Flagship Dr Lutz, FL 33549-5457
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-5299403
Property summary
AI-generated overview
This single-story, 14,023-square-foot medical office building in Lutz, Florida, offers a prime location with excellent visibility and accessibility. Situated on 1.37 acres, the property boasts 70 parking spaces and is conveniently located off US Highway 41, one block south of Sunset Drive in the Village Center, providing easy access to major roadways including I-275, I-75, and the Veterans Expressway via SR 54. Built in 1980 and renovated in 2020, the building features a new roof and a brand-new pylon sign on US 41, along with additional monument signage. The property benefits from high daily traffic counts (44,000+ vehicles) and is surrounded by a dense residential area with various nearby restaurants, retail, and office support services. Currently, a 995-square-foot suite is available for lease
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,344 SF
Lot
1.37 ac (59,683 SF)
Zoning code
CG
APN
U132718ZZZ000000547100
UPID
US18-5299403
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
-
Relax Massage Alternative Medicine Practice Spa & Massage Center
-
World Of Smalls Wedding Service Event Planning
-
Azalea Massage Alternative Medicine Practice Spa & Massage Center
-
Villaggio's Ristorante Italiano Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.20M
CAP Approach
CAP
$2.63M
Comparable Approach
Comparable
$2.51M
Blend (final)
Blend
$2.36M
Owner & transaction history
Lutz Plaza Investment LLC · 2 yrs held
Lutz Plaza Investment LLC
since 2023
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
CG · Lutz, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lutz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lutz 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
$2,355,000
ML approach
$2,200,000
CAP Approach
CAP Return
Estimation
6%
$2,840,000
6.5%
$2,625,000
7%
$2,435,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,745,000
Current use
MEDICAL BUILDING
$3,360,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$3,345,000
Change: -11% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,230,000
Change: -14% · Conversion: Easy
OFFICE BUILDING
$3,095,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$2.36M
Range $2.12M – $2.59M · ±10% · vs last sale $2.52M (Aug 18 2023)
Last sale anchor
$2.52M
Aug 18 2023
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
$153 / 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
$22,849
Tax year 2023
Assessed value
$1,265,100
Assessed 2023
Previous assessed
$1,265,100
+0.0% YoY
Effective rate
1.81%
On assessed value
Assessed land
$444,847
Assessed improvement
$820,253
Land market value
$444,847
Improvement market value
$820,253
Total market value
$1,265,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
16
Rooms
14
Total area
15,344 SF
Lot
1.37 ac (59,683 SF)
Zoning code
CG
APN
U132718ZZZ000000547100
UPID
US18-5299403
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
CG · Lutz, FLZoning CG · permitted uses
CG · Lutz, FL
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
16
Rooms
14
Lot
1.37 ac
Current owner
From public records · entity-resolved
Lutz Plaza Investment LLC
Entity
Mailing address
102 FLAGSHIP DR, LUTZ, FL 33549-5457
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2023
$2,520,000
Lutz Plaza Investment LLC
102 Flagship LLC
Warranty Deed
$1,890,000 · Bayfirst National Bank
Jul 31, 2018
$942,500
James J Lllikal
Karrottukunnel,abraham & Indira
Warranty Deed
—
Jul 31, 2018
—
102 Flagship LLC
Illikal,james J & Mary J
Grant Deed
related
$754,000 · James J Illikal
—
—
Abraham Karot
—
Deed Of Trust
related
$300,000 · Suntrust Bank NA
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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