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Property profile & analytics
OFF-MARKET
Estimated value
$4,830,000
Manufacturing properties
12198 44th N St Clearwater, FL 33762-5109
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5035429
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,915 SF
Lot
1.75 ac (76,417 SF)
APN
10-30-16-71010-300-1001
UPID
US18-5035429
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
-
Colman and Company Warehouse Location Warehouse & Storage
-
Direct Web Mail Marketing & Advertising Advertising Agency
-
ColDesi, Inc. Warehouse Location - Customer Pick Up Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.94M
Comparable Approach
Comparable
$6.11M
Blend (final)
Blend
$4.83M
Owner & transaction history
44th Street Nortei LLC · 3 yrs held
44th Street Nortei LLC
since 2022
Last sale
$4.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$7.6M
+33.6%
Retail stores
$7.3M
+28.4%
Office building
$6.6M
+16.0%
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 Clearwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clearwater 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
$4,720,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,270,000
6.5%
$3,940,000
7%
$3,660,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,650,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,555,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$7,260,000
Change: +28% · Conversion: Moderate
OFFICE BUILDING
$6,555,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,145,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$4.83M
Range $4.35M – $5.31M · ±10% · vs last sale $4.05M (Nov 16 2022)
Last sale anchor
$4.05M
Nov 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
$138 / 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
$57,631
Tax year 2023
Assessed value
$2,960,000
Assessed 2023
Previous assessed
$2,960,000
+0.0% YoY
Effective rate
1.95%
On assessed value
Land market value
$627,740
Improvement market value
$2,332,260
Total market value
$2,960,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Bathrooms
6
Total area
34,915 SF
Lot
1.75 ac (76,417 SF)
APN
10-30-16-71010-300-1001
UPID
US18-5035429
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
INDUSTRIAL (GENERAL) Current
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.6M
RETAIL STORES
Est. value
$7.3M
OFFICE BUILDING
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.1M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
6
Lot
1.75 ac
Current owner
From public records · entity-resolved
44th Street Nortei LLC
Entity
Mailing address
4537 S DL MABRY HWY, TAMPA, FL 33611-1425
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2022
$4,050,000
44th Street Nortei LLC
John L Tevlin Family Ltd Partnersii
Special Warranty Deed
$3,200,000 · The First A National Banking Assn
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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