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Property profile & analytics
FOR LEASE
Office buildings
1559 Indian Rocks Rd S, Largo, FL 33770
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3916248
For Lease
1 / 45
$2,000/Mo
1559 Indian Rocks Rd S, Largo, FL 33770
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1972
Construction
CONCRETE BLOCKS
Total area
4,722 SF
Lot
0.27 ac (11,857 SF)
APN
05-30-15-36180-001-0120
UPID
US18-3916248
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
-
Dr. Kristin J. Witfill, MD Physician Medical Clinic
-
Dr. Richard A. Miller, DO Physician Medical Clinic
-
Rima Bakhda Physician
-
Smeet Patel Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$551k
Blend (final)
Blend
$765k
Owner & transaction history
Pater Patris LLC · 2 yrs held
Pater Patris LLC
since 2023
Last sale
$830,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+34.3%
Neighborhood: shopping center
$885,000
+2.8%
Retail stores
$875,000
+2.0%
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 Largo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Largo 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
$635,000
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
$860,000
Current use
COMMERCIAL (GENERAL)
$1,155,000
Change: +34% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$885,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$875,000
Change: +2% · Conversion: Moderate
WAREHOUSE, STORAGE
$855,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $830k (Jul 27 2023)
Last sale anchor
$830k
Jul 27 2023
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
$162 / 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
$6,217
Tax year 2023
Assessed value
$350,000
Assessed 2023
Previous assessed
$290,000
+20.7% YoY
Effective rate
1.78%
On assessed value
Land market value
$85,596
Improvement market value
$264,404
Total market value
$350,000
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
For Lease
Year built
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
5
Total area
4,722 SF
Lot
0.27 ac (11,857 SF)
APN
05-30-15-36180-001-0120
UPID
US18-3916248
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
$860,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$885,000
RETAIL STORES
Est. value
$875,000
WAREHOUSE, STORAGE
Est. value
$855,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
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
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
5
Lot
0.27 ac
Current owner
From public records · entity-resolved
Pater Patris LLC
Entity
Mailing address
11125 PARK BLVD STE #104, SEMINOLE, FL 33772-4700
Ownership since
2023
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
May 14, 2024
—
Pater Patris LLC
—
Deed
related
$338,036 · The Bank Of Tampa
Jul 27, 2023
$830,000
Pater Patris LLC
Mayworks III LLC
Warranty Deed
$664,000 · The Bank Of Tampa
Apr 6, 2023
$670,000
Mavworks III LLC
Shantimani LLC
Warranty Deed
$569,500 · Ashok Patel
Aug 30, 2018
$165,000
Shantimani LLC
Largo Medical Center INC
Grant Deed
—
Feb 29, 2008
—
Largo Medical Center INC
Sun Coast Hospital INC
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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