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Property profile & analytics
OFF-MARKET
Estimated value
$3,235,000
Office buildings
1233 Myrtle Ave Clearwater, FL 33756
Entity Owned
~
Est. High Equity
Property ID
US18-4342642
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1998
Construction
CONCRETE BLOCKS
Total area
14,527 SF
Lot
1.2 ac (52,355 SF)
APN
21-29-15-58068-010-0060
UPID
US18-4342642
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
-
First Class Framing of Clearwater (Bike/Boat/Book/etc) Store Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$3.24M
Owner & transaction history
Myrtle Center LLC
Myrtle Center LLC
since 2026
Last sale
$4.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.0M
+22.6%
Apartment house (5+ units)
$2.9M
+18.0%
Neighborhood: shopping center
$2.6M
+3.8%
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
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
OFFICE BUILDING
$2,465,000
Current use
RETAIL STORES
$3,020,000
Change: +23% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,905,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,560,000
Change: +4% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,395,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$3.24M
Range $2.91M – $3.56M · ±10% · vs last sale $4.30M (Feb 26 2026)
Last sale anchor
$4.30M
Feb 26 2026
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
$223 / 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
$27,284
Tax year 2023
Assessed value
$1,605,000
Assessed 2023
Previous assessed
$1,420,000
+13.0% YoY
Effective rate
1.70%
On assessed value
Land market value
$412,176
Improvement market value
$1,192,824
Total market value
$1,605,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1998
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
13
Total area
14,527 SF
Lot
1.2 ac (52,355 SF)
APN
21-29-15-58068-010-0060
UPID
US18-4342642
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
OFFICE BUILDING Current
Est. value
$2.5M
RETAIL STORES
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
OFFICE BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1998
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
13
Lot
1.2 ac
Current owner
From public records · entity-resolved
Myrtle Center LLC
Entity
Mailing address
311 PARK PL BLVD STE #600, CLEARWATER, FL 33759-4925
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2026
$4,300,000
Myrtle Center LLC
Myrtle Executive Center LLC
Warranty Deed
$2,795,000 · Standard Insurance Co
Aug 6, 2018
—
Myrtle Executive Center LLC
—
Loan Modification
related
$1,380,317 · Bny Mellon NA
May 21, 2013
—
Myrtle Executive Center LLC
—
Deed Of Trust
related
$1,600,000 · Bny Mellon NA
Nov 30, 2007
$3,262,500
Myrtle Executive Center LLC
Thompson Executive Center Ptsh
Grant Deed
$1,800,000 · Regions Bank
Oct 2, 1997
$435,000
Thompson Executive Center Ptsh
Word Of Faith Church Of God
Grant Deed
—
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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