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

    1505 Wheeler St Plant City, FL 33563-2359

    • Drive through restaurants
    • 1,036 SF
    • 0.39 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5019072
    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

    • Strawberry Hut Sandwich Shop / Sandwich Shop / Takeout Restaurant

    Property Details for 1505 Wheeler St

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.39 lot acres
    Property size
    1,036 SF
    Zone code
    C-1A
    Property type
    Drive through restaurants
    APN
    P2028225B3000008000010
    APU
    P2028225B3000008000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.126
    Latitude
    28.0286
    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
    $2,880
    $136,303
    $40,804
    $177,107
    -
    $136,303
    $40,804
    $177,107

    Comparable in this City

    • Value Estimation by Request
      3,037 SF

      1909 Frontage Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,037 SF
      1909 Frontage Rd, Plant City, FL 33563-2053
      View Details
    • Value Estimation by Request
      2,014 SF

      703 Collins St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,014 SF
      703 Collins St, Plant City, FL 33563-5515
      View Details
    • Value Estimation by Request
      2,791 SF

      201 Alexander St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,791 SF
      201 Alexander St, Plant City, FL 33563-7158
      View Details
    • Value Estimation
      $3,100,000
      3,578 SF

      2101 Baker St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,578 SF
      2101 Baker St, Plant City, FL 33563-1642
      View Details
    • Value Estimation
      $590,000
      4,799 SF

      2601 Thonotosassa Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,799 SF
      2601 Thonotosassa Rd, Plant City, FL 33563-1400
      View Details
    • Value Estimation by Request
      3,622 SF

      2002 James L Redman Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,622 SF
      2002 James L Redman Pkwy, Plant City, FL 33563-7103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,919 SF

      Plant City Retail Strip Center

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      Plant City Commercial Opportunity

      Versatile commercial property on 1.14 acres in Plant City.
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    • $750,000
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      Plant City Commercial Land - 1.6 Acres

      Prime Commercial Lot, High-Traffic Area, I-4 Proximity
      1899 Alsobrook St, Plant City, FL 33563
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      Plant City Land Opportunity

      Cleared lot near downtown Plant City with development potential.
      308 E Damon St, Plant City, FL 33563
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    • $1,250,000

      9.5 Acres on Alexander Street

      9.5-acre parcel near I-4, suitable for various developments.
      1205-1209 W Alexander St, Plant City, FL 33563
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      2.2 acres of commercial land suitable for professional office/medical.
      1305 W Reynolds St, Plant City, FL 33563
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    Similar Nearby for Lease

    • Contact for pricing
      2,576 SF

      Restaurant with Drive-Thru Available

      Existing restaurant with drive-thru for sublease in Plant City.
      1713 James L Redman Pkwy, Plant City, FL 33563
      View Details
    • Contact for pricing

      Former Restaurant Space For Lease

      2,759 SF former Popeye’s building available for lease.
      Plant City, FL 33563
      View Details
    • $10 SF/Yr
      43,597 SF

      Established Retail Center For Lease

      Retail center with national tenants, south of downtown Plant City.
      1401-1427 S Collins St, Plant City, FL 33563
      View Details
    • $20 SF/Yr
      5,787 SF

      Retail Space with Prime Location

      Retail space for rent with parking and vaults.
      102 W Baker St, Plant City, FL 33563
      View Details
    • $1,500 /Mo
      3,120 SF

      Retail Space in Plant City

      Highly visible 1,000 SF retail space available for lease.
      1408 E Baker St, Plant City, FL 33563
      View Details
    • Contact for pricing

      Retail Space with Drive-Thru

      8,705 SF retail space with drive-thru and ample parking.
      201 W Reynolds St, Plant City, FL 33563
      View Details
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    1505 Wheeler St
    Plant City, FL 33563-2359
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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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