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    1121 Druid E Rd Clearwater, FL 33756-4062
    Property profile & analytics

    1121 Druid E Rd Clearwater, FL 33756-4062

    View on Map
    • Apartment buildings
    • 157,475 SF
    • 11.43 lot acres
    Off-Market
    Last Sale Jan 26, 2022
    $32,160,000
    Property ID
    US18-4560377
    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.
    Value Estimations
    $33,400,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • stephanie noelle photography / Wedding Service / Photography Service
    • Osceola Middle School / High School
    • Terraces at Clearwater Beach / Real Estate Agency
    • Rick's Landscaping Services / Landscaping / General Contractor

    Property Details for 1121 Druid E Rd

    Year built
    1949
    Construction
    CONCRETE BLOCKS
    Lot size
    11.43 lot acres
    Property size
    157,475 SF
    Property type
    Apartment buildings
    APN
    15-29-15-00000-340-0200
    APU
    152915000003400200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $32,395,000
      6.5%
      $29,900,000
      7%
      $27,765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $36,385,000
      Market price range: $22.9M - $45.4M
      AI Estimate
      $36,385,000
      Market price range: $22.9M - $45.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $31,515,000
      Current use
      RETAIL STORES
      $32,735,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $27,725,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $26,715,000
      Change: -15% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $25,975,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7905
    Latitude
    27.956
    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
    $524,891
    $0.00
    $0.00
    $27,230,000
    -
    $9,155,381
    $18,074,619
    $27,230,000

    Comparable in this City

    • Value Estimation
      $930,000
      3,220 SF

      1111 Pinellas St

      APARTMENT HOUSE (5+ UNITS) • 3,220 SF
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      View Details
    • Value Estimation
      $6,655,000
      41,888 SF

      211 Prospect Ave

      APARTMENT HOUSE (5+ UNITS) • 41,888 SF
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    • Value Estimation
      $1,300,000
      8,918 SF

      808 Grand Central St

      APARTMENT HOUSE (5+ UNITS) • 8,918 SF
      808 Grand Central St, Clearwater, FL 33756-3471
      View Details
    • Value Estimation
      $2,550,000
      12,286 SF

      1132 Auburn St

      APARTMENT HOUSE (5+ UNITS) • 12,286 SF
      1132 Auburn St, Clearwater, FL 33756-1286
      View Details
    • Value Estimation
      $1,855,000
      8,928 SF

      810 Belleair Rd

      APARTMENT HOUSE (5+ UNITS) • 8,928 SF
      810 Belleair Rd, Clearwater, FL 33756-2162
      View Details
    • Value Estimation
      $18,635,000
      136,952 SF

      801 Chestnut St

      APARTMENT HOUSE (5+ UNITS) • 136,952 SF
      801 Chestnut St, Clearwater, FL 33756-5626
      View Details

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      Clearwater Multifamily Property in Harbor Oaks

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      Rare Clearwater site suitable for mixed-use or multi-family redevelopment.
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    Similar Nearby for Lease

    • Contact for pricing

      Clearwater Office Space Available

      Office spaces for rent in Clearwater, Florida, starting at $750/month.
      1250 Rogers St, Clearwater, FL 33756
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    • Contact for pricing

      Land For Rent Near Beach

      Commercial land available for rent near Clearwater Beach.
      830 Court St, Clearwater, FL 33756
      View Details
    • Contact for pricing
      738 SF

      Freestanding Building with Drive-Thru

      Freestanding building with drive-thru, multiple access points, and high visibility.
      1595 S Missouri Ave, Clearwater, FL 33756
      View Details
    • $18 SF/Yr
      2,984 SF

      Clearwater Medical Office Space Available

      Prime medical office space in Clearwater near Morton Plant Hospital.
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    • $19,680 /Mo
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      Clearwater Office Space For Rent

      984 SF office space available for lease in Clearwater.
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      View Details
    • Contact for pricing
      127,973 SF

      Clearwater Plaza Retail Space

      Prime Retail Center, High Visibility, Flexible Space
      1219 Missouri Ave, Clearwater, FL 33756
      View Details
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    Clearwater, FL 33756-4062
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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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    1121 Druid E Rd, Clearwater, FL, 33756
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