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Property profile & analytics
OFF-MARKET
Estimated value
$62,705,000
Hotels
17120 Gulf Blvd North Redington Beach, FL 33708-1443
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3769101
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1987
Construction
CONCRETE BLOCKS
Total area
75,144 SF
Lot
1.35 ac (58,815 SF)
APN
05-31-15-61074-001-0100
UPID
US18-3769101
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$57.24M
Blend (final)
Blend
$62.71M
Owner & transaction history
Redington Beach Hotels LLC · 4 yrs held
Redington Beach Hotels LLC
since 2022
Last sale
$65.9M
3 recorded transactions
Zoning & alternative use
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 North Redington Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Redington Beach 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
$67,190,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$50,250,000
Current use
RESTAURANT
$46,130,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$40,285,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$62.71M
Range $56.43M – $68.98M · ±10% · vs last sale $65.92M (Jul 21 2022)
Last sale anchor
$65.92M
Jul 21 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
$834 / 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
$762,734
Tax year 2023
Assessed value
$53,000,000
Assessed 2023
Previous assessed
$24,000,000
+120.8% YoY
Effective rate
1.44%
On assessed value
Land market value
$14,280,653
Improvement market value
$38,719,347
Total market value
$53,000,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1987
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
7
Units
125
Bathrooms
132
Total area
75,144 SF
Lot
1.35 ac (58,815 SF)
APN
05-31-15-61074-001-0100
UPID
US18-3769101
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
HOTEL/MOTEL Current
Est. value
$50.3M
RESTAURANT
Est. value
$46.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$40.3M
HOTEL/MOTEL Current
RESTAURANT
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
1987
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
7
Buildings
2
Units
125
Bathrooms
132
Lot
1.35 ac
Current owner
From public records · entity-resolved
Redington Beach Hotels LLC
Entity
Mailing address
100 DUNBAR ST STE #402, SPARTANBURG, SC 29306-5189
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
Jul 21, 2022
$65,920,000
Redington Beach Hotels LLC
North Redington Beach Associates Lt
Special Warranty Deed
$69,800,000 · Fifth Third Bank NA
Apr 7, 2005
—
North Redington Bch Assocs Ltd
—
Trustees Deed
related
$5,815,299 · Pnc Bank
—
—
North Redington Beach Assocs L
—
Loan Modification
related
$12,143,434 · Other Institutional Lenders
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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