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    Property profile & analytics

    106 Evers St Plant City, FL 33563-3330

    • Office buildings
    • 11,342 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2022
    $1,250,000
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    6.9%
    Office buildings
    Location Intelligence
    Property ID
    US18-3457574
    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

    • Plant City Photo Archives Inc / Historical Society / Archive
    • Recreation Department / Park
    • VentraLabs / Laboratory
    • Tampa Bay Diagnostic Institute / Medical Laboratory / Diagnostic Center
    • Plant City Economic Dev Council / Economic Development Agency

    Property Details for 106 Evers St

    Year built
    1956
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    11,342 SF
    Zone code
    C-1
    Property type
    Office buildings
    APN
    P2928225D9032III000031
    APU
    P2928225D9032III000031

    Description

    This exceptional 11,183 square foot office building, located at 106 N Evers St in historic downtown Plant City, Florida, presents a unique investment opportunity. The property boasts a prime location, offering easy access to a variety of amenities including McCall Park, numerous restaurants (such as Krazy Kup coffee shop, Propagation Whiskey Bar and Kitchen, Crumbles & Cream Kaffeehaus, Roots Wine Bar, and Three Hands Mead), and shopping. Built in 1956, this two-story Class C building features a traditional office layout suitable for multiple tenants. The property includes ample free surface parking, a significant advantage in a bustling downtown area. The zoning is C-1, providing flexibility for a range of commercial uses. The building's total square footage is 11,183 square feet, spread across two stories. This property is an ideal choice for businesses seeking a well-located, established office space with convenient parking in the heart of Plant City. The building's age and character offer a unique charm, while its central location ensures high visibility and accessibility for clients and employees. The ample parking significantly enhances the property's appeal and practicality. This is a rare opportunity to acquire a substantial office building in a thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,190,000
      ML approach
      $1,205,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,360,000
      6.5%
      $1,255,000
      7%
      $1,165,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,277,000
      Market price range: $822k - $2.20M
      AI Estimate
      $1,287,000
      Market price range: $930k - $2.25M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,580,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,940,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $1,700,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.124
    Latitude
    28.0159
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, 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
    $22,207
    $39,146
    $1,219,260
    $1,258,406
    -
    $39,146
    $1,219,260
    $1,258,406

    Comparable in this City

    • Value Estimation
      $760,000
      23,638 SF

      110 Reynolds St

      OFFICE BUILDING • 23,638 SF
      110 Reynolds St, Plant City, FL 33563-3380
      View Details
    • Value Estimation
      $430,000
      7,488 SF

      1500 Victoria St

      OFFICE BUILDING • 7,488 SF
      1500 Victoria St, Plant City, FL 33563-3059
      View Details
    • Value Estimation
      $535,000
      14,139 SF

      202 Wheeler St

      OFFICE BUILDING • 14,139 SF
      202 Wheeler St, Plant City, FL 33563-5400
      View Details
    • Value Estimation
      $535,000
      17,161 SF

      1001 Baker St

      OFFICE BUILDING • 17,161 SF
      1001 Baker St, Plant City, FL 33563-3700
      View Details
    • Value Estimation
      $2,320,000
      9,368 SF

      2502 Frontage Park Pl

      OFFICE BUILDING • 9,368 SF
      2502 Frontage Park Pl, Plant City, FL 33563-9101
      View Details
    • Value Estimation
      $260,000
      2,026 SF

      106 Grant St

      OFFICE BUILDING • 2,026 SF
      106 Grant St, Plant City, FL 33563-6526
      View Details

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    Similar Nearby for Lease

    • $19 SF/Yr
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      Downtown Plant City Office Space

      Office space in downtown Plant City surrounded by businesses.
      102-115 S Evers St, Plant City, FL 33563
      View Details
    • $22 SF/Yr
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      Charming Office Space in Plant

      Premier location with old Florida charm and ample parking.
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      View Details
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      Plant City Office Space Available

      200 SF office space in Plant City for rent.
      106 N Evers St, Plant City, FL 33563
      View Details
    • $23 SF/Yr
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      Office Space Near Hospital

      Office space for rent across from the hospital.
      1601 W Reynolds St, Plant City, FL 33563
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      Turnkey Medical Space Available

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      Prime Commercial Property in Plant City

      MIX-zoned commercial property near downtown Plant City with high visibility.
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      View Details
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    106 Evers St
    Plant City, FL 33563-3330
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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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