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Property profile & analytics
FOR LEASE
Office buildings
15500 Lightwave Dr Clearwater, FL 33760
Individually Owned
23-yr Hold
~
Est. High Equity
Property ID
US18-3437657
For Lease
1 / 24
$23 SF/Yr
15500 Lightwave Dr, Clearwater, FL 33760
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2001
Construction
STEEL FRAME
Total area
49,470 SF
Lot
2.57 ac (111,792 SF)
APN
33-29-16-04904-000-0030
UPID
US18-3437657
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
-
Criminal Conflict & Civil Regional Law Firm
-
Stinger Corporate Office
-
Stinger Electronics Big Box & Wholesale Store Auto Parts Store
-
Agency for Health Care Administration Government Office
-
Murray Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.71M
Blend (final)
Blend
$6.71M
Owner & transaction history
Pritchett,tr · 23 yrs held
Pritchett,tr
since 2003
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.3M
+10.7%
Apartment house (5+ units)
$10.2M
+10.1%
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
$9,285,000
Current use
RETAIL STORES
$10,285,000
Change: +11% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$10,225,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$6.71M
Range $6.04M – $7.38M · ±10%
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
$136 / 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
$85,259
Tax year 2023
Assessed value
$4,625,000
Assessed 2023
Previous assessed
$4,050,000
+14.2% YoY
Effective rate
1.84%
On assessed value
Land market value
$634,927
Improvement market value
$3,990,073
Total market value
$4,625,000
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
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
2001
Construction
STEEL FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
8
Total area
49,470 SF
Lot
2.57 ac (111,792 SF)
APN
33-29-16-04904-000-0030
UPID
US18-3437657
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
$9.3M
RETAIL STORES
Est. value
$10.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.2M
OFFICE BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2001
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
8
Lot
2.57 ac
Current owner
From public records · entity-resolved
Pritchett,tr
Individual
Mailing address
1537 HILLCREST AVE, WINTER PARK, FL 32789-5754
Ownership since
2003
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
Jul 2, 2003
$6,500,000
Pritchett,tr
Bayside Concourse Developers
Grant Deed
$2,500,000 · Wachovia Bank NA
Mar 11, 1999
—
Hrcf Bayside Hotel Ltd
Haydon Rubin Development INC
Grant Deed
$400,000 · Mercantile Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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