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Property profile & analytics
FOR SALE
Apartment buildings
120 47Th Ave N St Petersburg, FL 33703
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3862739
For Sale
1 / 30
$14,760,000
120 47Th Ave N, St Petersburg, FL 33703
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Construction
CONCRETE BLOCKS
Total area
63,808 SF
Lot
1.92 ac (83,461 SF)
APN
06-31-17-36706-001-0010
UPID
US18-3862739
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
-
Nordica Bay Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.03M
Comparable Approach
Comparable
$14.62M
Blend (final)
Blend
$14.76M
Owner & transaction history
Nordica Bay LLC · 4 yrs held
Nordica Bay LLC
since 2022
Last sale
$14.9M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$22.3M
+76.6%
Neighborhood: shopping center
$20.3M
+60.9%
Office building
$19.0M
+50.4%
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 St Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs St Petersburg 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
$16,885,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,780,000
6.5%
$9,030,000
7%
$8,385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,605,000
Current use
AUTO REPAIR, GARAGE
$22,270,000
Change: +77% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$20,290,000
Change: +61% · Conversion: Difficult
OFFICE BUILDING
$18,965,000
Change: +50% · Conversion: Moderate
WAREHOUSE, STORAGE
$15,390,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$15,060,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$14.76M
Range $13.28M – $16.24M · ±10% · vs last sale $14.90M (Feb 16 2022)
Last sale anchor
$14.90M
Feb 16 2022
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
$231 / 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
$238,304
Tax year 2023
Assessed value
$12,000,000
Assessed 2023
Previous assessed
$11,350,000
+5.7% YoY
Effective rate
1.99%
On assessed value
Land market value
$3,115,395
Improvement market value
$8,884,605
Total market value
$12,000,000
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
For Sale
Year built
1974
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
4
Units
62
Bathrooms
76
Total area
63,808 SF
Lot
1.92 ac (83,461 SF)
APN
06-31-17-36706-001-0010
UPID
US18-3862739
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
$12.6M
AUTO REPAIR, GARAGE
Est. value
$22.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$20.3M
OFFICE BUILDING
Est. value
$19.0M
WAREHOUSE, STORAGE
Est. value
$15.4M
RETAIL STORES
Est. value
$15.1M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1974
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
4
Units
62
Bathrooms
76
Lot
1.92 ac
Current owner
From public records · entity-resolved
Nordica Bay LLC
Entity
Mailing address
150 E PALMETTO PARK RD STE #800, BOCA RATON, FL 33432-4833
Ownership since
2022
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
Feb 16, 2022
$14,900,000
Nordica Bay LLC
Casa De La Rosa LLC
Special Warranty Deed
$12,240,000 · Bravo Bridge Fund LLC
Aug 20, 2018
$7,080,000
Casa De La Rosa LLC
Apple,phillip B & Robert
Warranty Deed
—
Apr 1, 2005
—
Apple Gale J Tr
Apple Gale J Trust
Quit Claim Deed
related
$3,000,000 · Cornerstone Community Bank
Aug 10, 2004
—
Apple Gale J Trust
Apple,gale J
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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