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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Medical Office Space
1202 Millennium Pkwy Brandon, FL 33511-3895
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US19-0735534
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,412 SF
Lot
0.38 ac (16,553 SF)
Zoning code
BMS-TC2
APN
U272920ZZZ000002664800
UPID
US19-0735534
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
-
SmileWright Dentistry Dental Office
-
Tori S. Grieb, DMD Dental Office
-
Dr. Wendy Scott, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$687k
Blend (final)
Blend
$510k
Owner & transaction history
Spirit Master Funding Vi LLC · 12 yrs held
Spirit Master Funding Vi LLC
since 2014
7 recorded transactions
Zoning & alternative use
BMS-TC2 · Brandon, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$830,000
+18.1%
Retail stores
$785,000
+11.6%
Commercial (general)
$720,000
+2.0%
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 Brandon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brandon 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
MEDICAL BUILDING
$705,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$830,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$785,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$720,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$660,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$645,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$149 / 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
$11,341
Tax year 2023
Assessed value
$650,300
Assessed 2023
Previous assessed
$609,700
+6.7% YoY
Effective rate
1.74%
On assessed value
Assessed land
$198,636
Assessed improvement
$451,664
Land market value
$198,636
Improvement market value
$451,664
Total market value
$650,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
5
Total area
3,412 SF
Lot
0.38 ac (16,553 SF)
Zoning code
BMS-TC2
APN
U272920ZZZ000002664800
UPID
US19-0735534
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
BMS-TC2 · Brandon, FLZoning BMS-TC2 · permitted uses
BMS-TC2 · Brandon, FL
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
MEDICAL BUILDING Current
Est. value
$705,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$830,000
RETAIL STORES
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$720,000
OFFICE BUILDING
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$645,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
5
Lot
0.38 ac
Current owner
From public records · entity-resolved
Spirit Master Funding Vi LLC
Entity
Mailing address
1200 NETWORK CTR DR, EFFINGHAM, IL 62401-4602
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2017
—
Spirit Master Funding Vi LLC
—
Deed
related
$946,543 · Citibank
May 6, 2016
—
Spirit Master Funding Vi LLC
—
Deed
related
$780,000 · Citibank NA
Apr 11, 2014
$682,600
Spirit Master Funding Vi LLC
Professional Resource Dev INC
Grant Deed
—
Jul 27, 2004
$500,000
Professional Resource Dev INC
Wright,diane S R
Grant Deed
—
—
—
Professional Resource Dev INC
—
Deed Of Trust
related
$380,000 · Midland States Bank
—
—
Diane S Wright
—
Deed Of Trust
related
$400,000 · Bankatlantic Fsb
—
—
Spirit Master Funding Vi LLC
—
Loan Modification
related
$946,543 · Citibank
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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