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    131 Hibiscus St Tarpon Springs, FL 34689
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    Property profile & analytics

    131 Hibiscus St, Tarpon Springs, FL 34689

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    • Warehouses
    • 3,550 SF
    • 0.14 lot acres
    For Sale
    $615,000
    View Listing →
    Restored Commercial Space in Tarpon For Sale
    $615,000
    3,550 SF

    Restored Commercial Space in Tarpon

    Historic building in downtown Tarpon Springs, ideal for various businesses.

    131 HIBISCUS STREET, Tarpon Springs, FL 34689
    View Listing
    Property ID
    US18-1261801
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 5 Branches Brewing / Production Facility / Brewery & Distillery
    • Beach Bum Brewing / Cafe & Coffee Shop

    Property Details for 131 Hibiscus St

    Year built
    1910
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property type
    Warehouses
    APN
    12-27-15-60228-000-0120
    APU
    122715602280000120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 28, 2022 $500,000 Simpson Brothers Holdings LLC Crusty Bread Bakery INC Warranty Deed $510k · Bayfirst National Bank
    Jul 20, 2007 $270,000 Crusty Bread Bakery INC Goddard Townsend LLC Warranty Deed $226k · Regions Bank
    May 20, 2005 $179,900 Goddard Townsend LLC Jeffrey R Ganiere Warranty Deed $160k · Wachovia Bank NA
    Nov 19, 2001 $88,000 Jeffery R Ganiere Baker Industries INC Grant Deed —
    Aug 15, 2000 $38,500 Alpha Omega Building Corp Tsavaris,marie S Quit Claim Deed · related —
    — — Jeffrey R Ganiere — Deed Of Trust · related $63k · First National Bank
    — — Jeffrey R Ganiere — Deed Of Trust · related $64k · First National Bank
    — — Jeffrey R Ganiere — Deed Of Trust · related $20k · First National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tarpon Springs
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7562
    Latitude
    28.1479
    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
    $6,942
    $0.00
    $0.00
    $370,000
    -
    $161,958
    $208,042
    $370,000

    Comparable in this City

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      $2,290,000
      9,300 SF

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      1930 Pinellas Ave, Tarpon Springs, FL 34689-5734
      View Details
    • Value Estimation
      $4,110,000
      24,400 SF

      41916 Us Hwy 19th N

      WAREHOUSE, STORAGE
      41916 Us Hwy 19th N, Tarpon Springs, FL 34689-4148
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    • Value Estimation by Request
      4,140 SF

      522 Lemon St

      MINI-WAREHOUSE, STORAGE
      522 Lemon St, Tarpon Springs, FL 34689-4314
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    • Value Estimation
      $565,000
      3,240 SF

      906 Live Oak St

      WAREHOUSE, STORAGE
      906 Live Oak St, Tarpon Springs, FL 34689-4140
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    • Value Estimation by Request
      1,196 SF

      1001 Anclote Blvd

      STORAGE YARD, OPEN STORAGE
      1001 Anclote Blvd, Tarpon Springs, FL 34689-6633
      View Details
    • Value Estimation
      $1,405,000
      10,060 SF

      712 Anclote Rd

      WAREHOUSE, STORAGE
      712 Anclote Rd, Tarpon Springs, FL 34689-6703
      View Details

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      Freestanding Industrial Warehouse with Yard

      Freestanding warehouse with 17-foot clear height and fenced outdoor storage for equipment, repairs, and contractor operations.
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      31,023 SF

      Industrial Warehouse For Sale

      Multi-unit industrial warehouse with high ceilings for sale.
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      Downtown Tarpon Springs Landmark Building

      Landmark mixed-use building in downtown Tarpon Springs for sale.
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    • $750,000

      Downtown Tarpon Springs Landmark Building

      Landmark commercial building in downtown Tarpon Springs with live-work space.
      312 E Tarpon Ave, Tarpon Springs, FL 34689
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    • Contact for pricing
      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

    Similar Nearby for Lease

    • Contact for pricing

      Tarpon Springs Industrial/Warehouse Space

      22,000 SF industrial/warehouse space available for lease now!
      716 Wesley Ave, Tarpon Springs, FL 34689
      View Details
    • Contact for pricing
      2,000 SF

      Warehouse Units Available For Rent

      2000 sq ft warehouse units with overhead doors.
      743 Wesley Ave, Tarpon Springs, FL 34689
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    • Contact for pricing

      Flexible Office/Warehouse Space Available

      5,000 SF flexible space in Tarpon Springs business park.
      40351 Us Highway 19 N, Tarpon Springs, FL 34689
      View Details
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    Tarpon Springs, FL 34689
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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.

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