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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1218 Millennium Pkwy Brandon, FL 33511-3895

    • Medical offices
    • 13,060 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $1,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7945174
    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

    • Levi Stubbs, Green Star Realty, Inc / Real Estate Agent
    • Michael Davis, MD / Family Practice Physician / Internist
    • Healing EnerChi / Wellness Center
    • Karen Steinbrick, APRN / Family Practice Physician
    • V Love Consulting Inc. / Life Coach

    Property Details for 1218 Millennium Pkwy

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    13,060 SF
    Zone code
    BMS-TC2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    U272920ZZZ000002664604
    APU
    U272920ZZZ000002664604

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,931,000
      Market price range: $1.93M - $3.47M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,525,000
      AUTO REPAIR, GARAGE
      $2,465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brandon
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.3012
    Latitude
    27.9295
    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
    $19,956
    $109,008
    $1,681,992
    $1,791,000
    -
    $109,008
    $1,681,992
    $1,791,000

    Comparable in this City

    • Value Estimation
      $540,000
      3,720 SF

      376 Bloomingdale Ave

      MEDICAL BUILDING • 3,720 SF
      376 Bloomingdale Ave, Brandon, FL 33511-8155
      View Details
    • Value Estimation
      $1,125,000
      7,525 SF

      1082 Brandon Blvd

      MEDICAL BUILDING • 7,525 SF
      1082 Brandon Blvd, Brandon, FL 33511-5509
      View Details
    • Value Estimation
      $2,125,000
      16,437 SF

      514 Eichenfeld Dr

      MEDICAL BUILDING • 16,437 SF
      514 Eichenfeld Dr, Brandon, FL 33511-5955
      View Details
    • Value Estimation
      $1,625,000
      11,345 SF

      663 Kings Ave

      MEDICAL BUILDING • 11,345 SF
      663 Kings Ave, Brandon, FL 33511
      View Details
    • Value Estimation
      $4,130,000
      32,046 SF

      313 Lakewood Dr

      MEDICAL BUILDING • 32,046 SF
      313 Lakewood Dr, Brandon, FL 33511-2815
      View Details
    • Value Estimation
      $875,000
      6,746 SF

      311 Noland Dr

      MEDICAL BUILDING • 6,746 SF
      311 Noland Dr, Brandon, FL 33511-5719
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.50 Acres

      Move-in Ready Medical Office Suite

      Functional 1,307 sqft medical office in established Brandon complex.
      500 Vonderburg Dr, Brandon, FL 33511
      View Details
    • Contact for pricing
      20,400 SF

      Bowing Oak Medical Center

      Medical office building near HCA Brandon Regional Hospital.
      722 Bowing Oak Dr, Brandon, FL 33511
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    • $2,750,000
      10,920 SF

      Oakfield Medical Plaza: Brandon, FL

      10,920 SF Medical Office Building
      910 Oakfield Dr, Brandon, FL 33511
      View Details
    • $1,495,000
      8,500 SF

      Brandon Medical Office Opportunity

      8,500 SF Vacant Medical Office, $1.49M
      523 Kings Ave, Brandon, FL 33511
      View Details
    • $249,000
      Pending

      Medical Office Condo Near Hospital

      1,460 SF medical office condo near Brandon Regional Hospital.
      500 Vonderburg Dr, Brandon, FL 33511
      View Details
    • $699,999
      2,954 SF

      Prime Brandon Medical Office Space

      Lakeview Office, 2,954 sq ft, $699,999
      500 Vonderburg Dr, Brandon, FL 33511
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,697 SF

      Brandon, FL Office/Medical Space

      Office/Medical space with great visibility in Brandon, Florida.
      920 W Lumsden Rd, Brandon, FL 33511
      View Details
    • $15 SF/Yr
      4,244 SF

      Brandon Medical Office Suite for Lease

      1,450 SF Freestanding Medical Office
      533 Medical Oaks Ave, Brandon, FL 33511
      View Details
    • Contact for pricing
      48,922 SF

      Prime Medical Office Building in Brandon

      Spacious medical suites, ample parking.
      510 Vonderburg Dr, Brandon, FL 33511
      View Details
    • $22 SF/Yr
      20,400 SF

      Brandon Medical Office Building for Lease

      20,400 SF, Multiple Suites Available
      722 Bowing Oak Dr, Brandon, FL 33511
      View Details
    • New
      $22 SF/Yr
      1,307 SF

      Brandon Medical Office Suite For Rent

      Functional 1,307 SF medical office suite in established medical complex.
      500 Vonderburg Dr, Brandon, FL 33511
      View Details
    • Contact for pricing

      Brandon Boulevard Retail Space Available

      Redeveloped community center with excellent frontage on Brandon Boulevard.
      1602 W Brandon Blvd, Brandon, FL 33511
      View Details
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    Brandon, FL 33511-3895
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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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