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Property profile & analytics
OFF-MARKET
Estimated value
$6,920,000
Office buildings
1609 Pasadena S Ave, South Pasadena, FL 33707-4565
Entity Owned
Free & Clear
Property ID
US18-5622863
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1966
Construction
CONCRETE BLOCKS
Total area
47,313 SF
Lot
4.14 ac (180,177 SF)
APN
30-31-16-00000-320-0200
UPID
US18-5622863
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.84M
Blend (final)
Blend
$6.92M
Owner & transaction history
West Florida Pph LLC
West Florida Pph LLC
since 2025
Last sale
$6.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$11.4M
+1.2%
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 South Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Pasadena 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
$11,275,000
Current use
WAREHOUSE, STORAGE
$11,410,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$11,170,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$10,885,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$6.92M
Range $6.23M – $7.61M · ±10% · vs last sale $6.00M (May 1 2025)
Last sale anchor
$6.00M
May 1 2025
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
$146 / 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
$99,657
Tax year 2023
Assessed value
$5,400,000
Assessed 2023
Previous assessed
$5,050,000
+6.9% YoY
Effective rate
1.85%
On assessed value
Land market value
$3,171,941
Improvement market value
$2,228,059
Total market value
$5,400,000
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
Off-Market
Year built
1966
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
4
Bathrooms
68
Total area
47,313 SF
Lot
4.14 ac (180,177 SF)
APN
30-31-16-00000-320-0200
UPID
US18-5622863
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
$11.3M
WAREHOUSE, STORAGE
Est. value
$11.4M
RETAIL STORES
Est. value
$11.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.9M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1966
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
4
Buildings
2
Bathrooms
68
Lot
4.14 ac
Current owner
From public records · entity-resolved
West Florida Pph LLC
Entity
Free & Clear · 0 yrs held
Mailing address
11780 US HWY 1ST STE #305, NORTH PALM BEACH, FL 33408-3042
Ownership since
2025
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
Aug 1, 2025
$6,000,000
West Florida Pph LLC
Aw Palms Of Pasadena LLC
Special Warranty Deed
—
Aug 8, 2014
—
Aw Palms Of Pasadena LLC
Fl Medical Office LLC
Trustees Deed
$5,950,000 · General Elec Cap
Oct 8, 2013
—
Palms Of Pasadena Hospital LP
Tenet Healthsytem Hospital INC
Quit Claim Deed
related
—
Jul 30, 2013
$2,121,900
Fl Medical Office LLC
Tenet Health System Hospitals INC
Special Warranty Deed
$18,000,000 · Pfp Holding Company III LLC
Aug 15, 2007
$3,662,900
Fl Medical Office LLC
Us Bank NA
Grant Deed
$50,400,000 · Bank Of America
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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