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Property profile & analytics
OFF-MARKET
Estimated value
$4,460,000
Office buildings
1135 Pasadena Ave S Ste 208, South Pasadena, FL 33707-6423
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-4984681
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1972
Construction
CONCRETE BLOCKS
Total area
29,754 SF
Lot
1 ac (43,416 SF)
APN
30-31-16-00000-240-0100
UPID
US18-4984681
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
$4.93M
Blend (final)
Blend
$4.46M
Owner & transaction history
Azzam Properties Corporation · 3 yrs held
Azzam Properties Corporation
since 2023
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$7.2M
+1.2%
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 South Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Pasadena 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
$3,835,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,090,000
Current use
WAREHOUSE, STORAGE
$7,175,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$7,025,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$6,845,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$4.46M
Range $4.01M – $4.91M · ±10% · vs last sale $2.75M (Apr 25 2023)
Last sale anchor
$2.75M
Apr 25 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
$150 / 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
$36,449
Tax year 2023
Assessed value
$1,975,000
Assessed 2023
Previous assessed
$1,875,000
+5.3% YoY
Effective rate
1.85%
On assessed value
Land market value
$807,580
Improvement market value
$1,167,420
Total market value
$1,975,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
3
Bathrooms
11
Total area
29,754 SF
Lot
1 ac (43,416 SF)
APN
30-31-16-00000-240-0100
UPID
US18-4984681
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
OFFICE BUILDING Current
Est. value
$7.1M
WAREHOUSE, STORAGE
Est. value
$7.2M
RETAIL STORES
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.8M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
11
Lot
1 ac
Current owner
From public records · entity-resolved
Azzam Properties Corporation
Entity
Mailing address
902 W ROBERTSON ST, BRANDON, FL 33511-4150
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
Apr 25, 2023
$2,750,000
Azzam Properties Corporation
Frederic F Pettay
Warranty Deed
$950,000 · Frederic Pettay
May 9, 2013
$40,000
Maxie Investments Corp
Ulrich,lisa A
Quit Claim Deed
related
—
May 7, 2010
$9,800,000
Causeway Village Mhc LLC
Boca Ciega Bay LLC
Grant Deed
—
—
—
Frederic F Pettay
—
Deed Of Trust
related
$670,000 · Cornerstone Community Bank
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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