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Property profile & analytics
OFF-MARKET
Estimated value
$24,375,000
Warehouses
1501 2nd N Ave Saint Petersburg, FL 33705-1558
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4383659
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2018
Construction
STEEL FRAME
Total area
92,000 SF
Lot
1.26 ac (54,681 SF)
APN
24-31-16-43668-000-0880
UPID
US18-4383659
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
-
CubeSmart Self Storage Storage Facility
-
Samson Stump Grinding LLC Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.84M
Blend (final)
Blend
$24.38M
Owner & transaction history
South Plant Owner LLC · 4 yrs held
South Plant Owner LLC
since 2022
Last sale
$22.9M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$33.6M
+51.6%
Auto repair, garage
$32.1M
+44.7%
Neighborhood: shopping center
$29.3M
+31.8%
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 Saint Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Petersburg 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
$21,735,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$22,190,000
Current use
APARTMENT HOUSE (5+ UNITS)
$33,635,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$32,105,000
Change: +45% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$29,255,000
Change: +32% · Conversion: Moderate
OFFICE BUILDING
$27,340,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$21,715,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$24.38M
Range $21.94M – $26.81M · ±10% · vs last sale $22.85M (Jan 31 2022)
Last sale anchor
$22.85M
Jan 31 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
$265 / 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
$347,527
Tax year 2023
Assessed value
$17,500,000
Assessed 2023
Previous assessed
$13,600,000
+28.7% YoY
Effective rate
1.99%
On assessed value
Land market value
$3,710,977
Improvement market value
$13,789,023
Total market value
$17,500,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
OTHER
Cooling
YES
Stories
4
Bathrooms
1
Total area
92,000 SF
Lot
1.26 ac (54,681 SF)
APN
24-31-16-43668-000-0880
UPID
US18-4383659
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
WAREHOUSE, STORAGE Current
Est. value
$22.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.6M
AUTO REPAIR, GARAGE
Est. value
$32.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$29.3M
OFFICE BUILDING
Est. value
$27.3M
RETAIL STORES
Est. value
$21.7M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
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
2018
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
4
Bathrooms
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
South Plant Owner LLC
Entity
Free & Clear · 4 yrs held
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2022
—
South Plant Owner LLC
—
Deed
related
$125,000,000 · Wells Fargo Bank NA
Jan 31, 2022
$22,850,000
South Plant Owner LLC
St Pete Urban Storage LLC
Special Warranty 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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