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

    1605 Pass A Grille Way St Pete Beach, FL 33706-4275

    • Apartment buildings
    • 10,290 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Aug 11, 2020
    $2,600,000
    Value Estimations
    $2,800,000
    Show details
    Cap Rate Potential
    2.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-0129613
    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

    • Apartment buildings

    Property Details for 1605 Pass A Grille Way

    Year built
    1962
    Construction
    CONCRETE BLOCKS
    Lot size
    0.34 lot acres
    Property size
    10,290 SF
    Property type
    Apartment buildings
    APN
    18-32-16-68634-000-0004
    APU
    183216686340000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,996,000
      Market price range: $3.00M - $4.92M
      AI Estimate
      $2,996,000
      Market price range: $3.00M - $4.92M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,855,000
      Current use
      AUTO REPAIR, GARAGE
      $3,590,000
      Change: -7% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,270,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    St Pete Beach
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7357
    Latitude
    27.6941
    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
    $38,484
    $0.00
    $0.00
    $2,400,000
    -
    $1,960,489
    $439,511
    $2,400,000

    Comparable in this City

    • Value Estimation
      $2,845,000
      9,769 SF

      117 104th Ave

      APARTMENT HOUSE (5+ UNITS) • 9,769 SF
      117 104th Ave, Treasure Island, FL 33706-4863
      View Details
    • Value Estimation
      $2,270,000
      7,787 SF

      121 104th Ave

      APARTMENT HOUSE (5+ UNITS) • 7,787 SF
      121 104th Ave, Treasure Island, FL 33706-4864
      View Details
    • Value Estimation
      $2,195,000
      7,540 SF

      125 104th Ave, Unit 5

      APARTMENT HOUSE (5+ UNITS) • 7,540 SF
      125 104th Ave, Treasure Island, FL 33706-4833
      View Details
    • Value Estimation
      $2,310,000
      7,926 SF

      555 69th Ave

      APARTMENT HOUSE (5+ UNITS) • 7,926 SF
      555 69th Ave, St Pete Beach, FL 33706-2047
      View Details
    • Value Estimation
      $2,255,000
      7,750 SF

      510 70th Ave

      APARTMENT HOUSE (5+ UNITS) • 7,750 SF
      510 70th Ave, St Pete Beach, FL 33706-2043
      View Details
    • Value Estimation
      $1,550,000
      5,314 SF

      8801 Harrell Ave

      APARTMENT HOUSE (5+ UNITS) • 5,314 SF
      8801 Harrell Ave, Treasure Island, FL 33706-3380
      View Details

    Similar Nearby for Sale

    • $4,868,570

      Luxury Coastal Estate: Treasure Island

      3-Unit Multifamily, Ocean Views
      12400 Capri Cir, Treasure Island, FL 33706
      View Details
    • $800,000
      Pending

      Income-Producing St. Pete Beach Portfolio

      Income-producing properties with redevelopment potential in St. Pete Beach, Florida.
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    • $3,395,000
      7,926 SF

      St. Pete Beach Multifamily Investment

      Prime Beachfront Apartment Building, 10 Units
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    • $995,000
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      St. Pete Beach Investment Opportunity

      Two prime properties: five-plex residential and established veterinary clinic.
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      Pending

      St. Pete Beach Multifamily Investment

      10 rental units in St. Pete Beach near the beach.
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    • $2,090,000

      Waterfront Apartment Building in Treasure Island

      8-unit waterfront apartment building near Gulf beach and Johns Pass.
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    Similar Nearby for Lease

    • Contact for pricing
      975 SF

      Retail Space Near I-275

      Retail space with high visibility and easy highway access.
      11002-11140 4Th St N, St Petersburg, FL 33706
      View Details
    • Contact for pricing
      1,498 SF

      Retail Space on St. Pete Beach

      Retail spaces available in grocery-anchored St. Pete Beach center.
      4615-4685 Gulf Blvd, St Pete Beach, FL 33706
      View Details
    • Contact for pricing
      136,224 SF

      Dolphin Village Retail Space

      St. Pete Beach Retail, Publix-Anchored
      4655 Gulf Blvd, St. Pete Beach, FL 33706
      View Details
    • Contact for pricing
      5,680 SF

      Retail Space on 107th Avenue

      Retail space with high visibility and abundant parking.
      120 107Th Ave, Treasure Island, FL 33706
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Publix-Anchored Center

      Retail space in a high-visibility, Publix-anchored shopping center.
      4695-4811 Gulf Blvd, St Pete Beach, FL 33706
      View Details
    • Contact for pricing
      25,552 SF

      St. Pete Beach Retail Space

      25,552 SF retail space available for immediate occupancy.
      7625 Blind Pass Rd, St Pete Beach, FL 33706
      View Details
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    St Pete Beach, FL 33706-4275
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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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