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Property profile & analytics
OFF-MARKET
Estimated value
$46,920,000
Apartment buildings
12001 Dr Martin Luther King Jr N St Saint Petersburg, FL 33716-1618
Individually Owned
28-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3238665
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Construction
CONCRETE BLOCKS
Total area
260,772 SF
Lot
26.15 ac (1,139,111 SF)
APN
07-30-17-90790-001-0020
UPID
US18-3238665
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
$46.92M
Blend (final)
Blend
$46.92M
Owner & transaction history
Equitable Life Assurance Socie · 28 yrs held
Equitable Life Assurance Socie
since 1998
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$77.5M
+54.4%
Warehouse, storage
$62.9M
+25.3%
Retail stores
$61.6M
+22.7%
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 Saint Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$50,185,000
Current use
OFFICE BUILDING
$77,500,000
Change: +54% · Conversion: Moderate
WAREHOUSE, STORAGE
$62,900,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$61,555,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$46.92M
Range $42.23M – $51.61M · ±10%
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
$180 / 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
$782,433
Tax year 2023
Assessed value
$39,400,000
Assessed 2023
Previous assessed
$39,400,000
+0.0% YoY
Effective rate
1.99%
On assessed value
Land market value
$13,843,989
Improvement market value
$25,556,011
Total market value
$39,400,000
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
Off-Market
Year built
1989
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Units
268
Bathrooms
398
Total area
260,772 SF
Lot
26.15 ac (1,139,111 SF)
APN
07-30-17-90790-001-0020
UPID
US18-3238665
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
$50.2M
OFFICE BUILDING
Est. value
$77.5M
WAREHOUSE, STORAGE
Est. value
$62.9M
RETAIL STORES
Est. value
$61.6M
APARTMENT HOUSE (5+ UNITS) Current
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
1989
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
268
Bathrooms
398
Lot
26.15 ac
Current owner
From public records · entity-resolved
Equitable Life Assurance Socie
Individual
Free & Clear · 28 yrs held
Mailing address
1745 SHEA CTR DR STE #200, HIGHLANDS RANCH, CO 80129-1540
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 1998
$28,000,000
Equitable Life Assurance Socie
Thunder Bay Apartments LP
Grant 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.
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