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    Property profile & analytics

    1208 Pinellas Ave Tarpon Springs, FL 34689-6901

    • Strip malls
    • 9,300 SF
    • 1.61 lot acres
    OFF-MARKET
    Last Sale
    May 07, 2025
    $1,400,000
    Value Estimations
    $1,555,000
    Show details
    Cap Rate Potential
    8.8%
    Strip malls
    Location Intelligence
    Property ID
    US18-5347434
    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.

    Current Use by Public Records

    • Eagles's Nest Lounge / Bar & Pub
    • The Funk / Tattoo & Piercing Shop
    • CM SR22 Insurance Group / Financial Advisor / Insurance Agency

    Property Details for 1208 Pinellas Ave

    Year built
    1988
    Construction
    WOOD FRAME
    Lot size
    1.61 lot acres
    Property size
    9,300 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    01-27-15-27072-012-0010
    APU
    12715270720120010

    Description

    Anclote Plaza, a 13,994 square foot shopping center in Tarpon Springs, Florida, presents a compelling investment opportunity. Priced at $1,675,000, this property boasts a 6.33% cap rate and a strong net operating income (NOI) of $106,000. The center comprises two buildings totaling 11,800 square feet of net rentable space, situated on a 1.61-acre lot with ample parking (62 spaces). Currently, three tenants occupy the space, with leases expiring January 1, 2025. One building is approximately 2,500 square feet and currently operates as a bar/lounge. The main building, approximately 9,300 square feet, includes a 4,500 square foot vacant shell, two occupied units, and one vacant 1,500 square foot space. The property features a metal roof installed in 2017 and approved renovation plans are available. Located on US ALT 19, less than half a mile from the Sponge Docks, this property benefits from a prime location and high visibility. Zoned for General Business, permitted uses include professional offices, hotels, repair services, restaurants, retail food and sales, shopping centers, and mixed-use developments. This is an exceptional opportunity to acquire a well-located retail center with significant upside potential. The property includes five units and was built in 1988.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,175,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,725,000
      6.5%
      $1,590,000
      7%
      $1,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,695,000
      Market price range: $1.32M - $4.13M
      AI Estimate
      $1,695,000
      Market price range: $1.32M - $4.13M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,580,000
      Current use
      OFFICE BUILDING
      $2,160,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tarpon Springs
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7563
    Latitude
    28.1605
    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
    $17,315
    $0.00
    $0.00
    $1,100,000
    -
    $362,525
    $737,475
    $1,100,000

    Comparable in this City

    • Value Estimation
      $1,605,000
      3,750 SF

      510 Dodecanese Blvd

      SHOPPING CENTER, STRIP CENTER • 3,750 SF
      510 Dodecanese Blvd, Tarpon Springs, FL 34689-3128
      View Details
    • Value Estimation
      $1,380,000
      5,304 SF

      25 Dodecanese Blvd

      SHOPPING CENTER, STRIP CENTER • 5,304 SF
      25 Dodecanese Blvd, Tarpon Springs, FL 34689-3117
      View Details
    • Value Estimation
      $610,000
      4,275 SF

      42070 Us Hwy 19th N

      SHOPPING CENTER, STRIP CENTER • 4,275 SF
      42070 Us Hwy 19th N, Tarpon Springs, FL 34689-4149
      View Details
    • Value Estimation by Request
      2,937 SF

      11 Safford Ave

      SHOPPING CENTER, STRIP CENTER • 2,937 SF
      11 Safford Ave, Tarpon Springs, FL 34689
      View Details
    • Value Estimation by Request
      2,569 SF

      509 Dodecanese Blvd

      SHOPPING CENTER, STRIP CENTER • 2,569 SF
      509 Dodecanese Blvd, Tarpon Springs, FL 34689-3127
      View Details
    • Value Estimation
      $715,000
      3,621 SF

      901 Arfaras Blvd

      SHOPPING CENTER, STRIP CENTER • 3,621 SF
      901 Arfaras Blvd, Tarpon Springs, FL 34689-3122
      View Details

    Similar Nearby for Sale

    • $6,900,000
      6,098 SF

      Tarpon Springs Shopping Center Investment

      Prime Retail, High Tourist Traffic, Mixed-Use Potential
      0 Athens St, Tarpon Springs, FL 34689
      View Details
    • New
      $1,050,000
      1,377 SF

      Gas Station, Repair Shop, Store

      Gas station, auto repair, and convenience store business and property.
      1941 S Pinellas Ave, Tarpon Springs, FL 34689
      View Details
    • $615,000
      3,550 SF

      Restored Commercial Space in Tarpon

      Historic building in downtown Tarpon Springs, ideal for various businesses.
      131 Hibiscus St, Tarpon Springs, FL 34689
      View Details
    • $1,100,000
      2,063 SF

      Anclote River Boat Club

      Restaurants • 2,063 SF
      1761 Beckett Way, Tarpon Springs, FL 34689
      View Details
    • $450,000
      1,001 SF

      Freestanding Office Building Near Downtown

      Versatile office building near downtown and Sponge Docks.
      1201 N Pinellas Ave, Tarpon Springs, FL 34689
      View Details
    • $875,000
      2,063 SF

      Waterfront Restaurant and Bar For Sale

      Highway frontage property with established waterfront bar and restaurant.
      1761 Beckett Way, Tarpon Springs, FL 34689
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,622 SF

      Retail Center Shadow Anchored by Walmart

      Retail spaces available in Tarpon Springs, Florida.
      41232 Us Highway 19 N, Tarpon Springs, FL 34689
      View Details
    • $10 SF/Yr
      4,703 SF

      Tarpon Springs Sponge Docks Retail Space

      Historic Sponge Docks Retail/Restaurant Opportunity
      508 Athens St, Tarpon Springs, FL 34689
      View Details
    • $46,800

      Retail Space for Lease

      Retail space available for lease in Tarpon Springs, Florida.
      321 N Safford Ave, Tarpon Springs, FL 34689
      View Details
    • $5,305 /Mo

      Retail Space on US 19

      Retail space for rent with high traffic and great parking.
      39930 Us Highway 19 N, Tarpon Springs, FL 34689
      View Details
    • $15 SF/Yr
      44,000 SF

      Savion Center: Tarpon Springs Office

      Prime Office Space, Fully Remodeled
      39920 Us Highway 19, Tarpon Springs, FL 34689
      View Details
    • $1,000 /Mo
      600 SF

      Retail/Office Space on US Hwy

      Two 600 SF units available in well-maintained Tarpon Springs center.
      40417 Us Highway 19 N, Tarpon Springs, FL 34689
      View Details
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    1208 Pinellas Ave
    Tarpon Springs, FL 34689-6901
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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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