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Property profile & analytics
OFF-MARKET
Estimated value
$27,975,000
Outlet malls
16400 State Rd 54 Odessa, FL 33556-3720
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3293148
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2006
Total area
170,496 SF
Lot
5.03 ac (219,107 SF)
Zoning code
MPUD
APN
31-26-18-0000-00200-0062
UPID
US18-3293148
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
$25.75M
Comparable Approach
Comparable
$27.03M
Blend (final)
Blend
$27.98M
Owner & transaction history
Flre Investors LLC · 3 yrs held
Flre Investors LLC
since 2022
Last sale
$38.9M
3 recorded transactions
Zoning & alternative use
MPUD · Odessa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Odessa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Odessa 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%
$27,895,000
6.5%
$25,750,000
7%
$23,910,000
Alternative Use
Use
Estimation
RETAIL STORES
$42,900,000
Current use
MEDICAL BUILDING
$36,880,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$27.98M
Range $25.18M – $30.77M · ±10% · vs last sale $38.86M (Oct 28 2022)
Last sale anchor
$38.86M
Oct 28 2022
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
$164 / 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
$233,690
Tax year 2023
Assessed value
$12,574,304
Assessed 2023
Previous assessed
$7,029,774
+78.9% YoY
Effective rate
1.86%
On assessed value
Assessed land
$572,702
Assessed improvement
$12,001,602
Land market value
$572,702
Improvement market value
$12,001,602
Total market value
$12,574,304
Applied tax rate
9,100.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
1
Stories
1
Units
4722
Bathrooms
4
Total area
170,496 SF
Lot
5.03 ac (219,107 SF)
Zoning code
MPUD
APN
31-26-18-0000-00200-0062
UPID
US18-3293148
Jurisdiction
PASCO
Zoning & alternative use
MPUD · Odessa, FLZoning MPUD · permitted uses
MPUD · Odessa, FL
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
RETAIL STORES Current
Est. value
$42.9M
MEDICAL BUILDING
Est. value
$36.9M
RETAIL STORES Current
MEDICAL BUILDING
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
4722
Bathrooms
4
Lot
5.03 ac
Current owner
From public records · entity-resolved
Flre Investors LLC
Entity
Mailing address
1063 HILLSBORO MILE UNIT #909, HILLSBORO BEACH, FL 33062-2165
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2022
$38,863,058
Flre Investors LLC
24 7 Debary LLC
Special Warranty Deed
$250,000 · South State Bank NA
Jul 13, 2017
$4,900,000
24/7 Debary LLC
Target Corp
Grant Deed
—
—
—
24/7 Debary LLC
—
Deed Of Trust
related
$3,000,000 · Bank Of Tampa
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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