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

    1824 Shr S Dr South Pasadena, FL 33707-4622

    • Apartment buildings
    • 40,491 SF
    • 2.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 19, 2021
    $12,925,000
    Value Estimations
    $12,940,000
    Show details
    Cap Rate Potential
    2.6%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-5284090
    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 1824 Shr S Dr

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    2.05 lot acres
    Property size
    40,491 SF
    Property type
    Apartment buildings
    APN
    30-31-16-67662-000-0020
    APU
    303116676620000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,602,000
      Market price range: $7.18M - $11.4M
      AI Estimate
      $9,602,000
      Market price range: $7.18M - $11.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $9,315,000
      Current use
      AUTO REPAIR, GARAGE
      $14,130,000
      Change: +52% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $12,875,000
      Change: +38% Conversion: Difficult
      WAREHOUSE, STORAGE
      $9,765,000
      Change: +5% Conversion: Difficult
      OFFICE BUILDING
      $9,650,000
      Change: +4% Conversion: Moderate
      RETAIL STORES
      $9,560,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    South Pasadena
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7382
    Latitude
    27.7504
    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
    $149,486
    $0.00
    $0.00
    $8,100,000
    -
    $2,394,675
    $5,705,325
    $8,100,000

    Comparable in this City

    • Value Estimation
      $2,430,000
      14,837 SF

      5401 1st S Ave

      APARTMENT HOUSE (5+ UNITS) • 14,837 SF
      5401 1st S Ave, Saint Petersburg, FL 33707-6103
      View Details
    • Value Estimation by Request
      8,032 SF

      6565 5th S Ave

      APARTMENT HOUSE (5+ UNITS) • 8,032 SF
      6565 5th S Ave, Saint Petersburg, FL 33707-2203
      View Details
    • Value Estimation by Request
      6,688 SF

      2931 Dupont S St

      APARTMENT HOUSE (5+ UNITS) • 6,688 SF
      2931 Dupont S St, Gulfport, FL 33707-5260
      View Details
    • Value Estimation by Request
      5,467 SF

      5444 30th S Ave

      APARTMENT HOUSE (5+ UNITS) • 5,467 SF
      5444 30th S Ave, Gulfport, FL 33707-5584
      View Details
    • Value Estimation by Request
      2,327 SF

      3052 50th S St

      APARTMENT HOUSE (5+ UNITS) • 2,327 SF
      3052 50th S St, Saint Petersburg, FL 33707
      View Details
    • Value Estimation by Request
      22,331 SF

      3209 58th S St

      APARTMENT HOUSE (5+ UNITS) • 22,331 SF
      3209 58th S St, Gulfport, FL 33707-6047
      View Details

    Similar Nearby for Sale

    • $700,000
      0.26 Acres

      Pre-Construction Multifamily Investment Opportunity

      Land and plans for an 8-unit multifamily property.
      5148 1St Ave S, St Petersburg, FL 33707
      View Details
    • $1,100,000
      Pending

      St. Pete Multifamily Investment Opportunity

      Value-add multifamily property in prime St. Pete location.
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    • $1,100,000
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      St. Pete Multifamily Value-Add Opportunity

      Multifamily property in prime location with value-add potential.
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    • $439,000

      Gulfport Duplex with Income Potential

      Two-unit property in Gulfport, currently leased with income.
      5210 13Th Ave S, Gulfport, FL 33707
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    • $749,000
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      Gulfport Quadruplex Investment Opportunity

      Updated Gulfport quadruplex with strong cash flow potential.
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    • $699,000
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      Gulfport Mixed-Use Property For Sale

      Versatile property with commercial/residential zoning and income potential.
      5617 Gulfport Blvd S, Gulfport, FL 33707
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    Similar Nearby for Lease

    • Contact for pricing
      4,954 SF

      Retail Space in St Petersburg

      Retail spaces available in high-volume, Publix-anchored shopping center.
      3431-3455 49Th St N, St Petersburg, FL 33707
      View Details
    • Contact for pricing
      163,746 SF

      South Pasadena Retail Center

      Prime Retail Space Available in South Pasadena
      0 S & Pasadena Ave, South Pasadena, FL 33707
      View Details
    • $2,500 /Mo
      8,008 SF

      Prime Downtown Gulfport Retail Space

      Retail space in the heart of Gulfport's thriving downtown business district.
      3125 Beach Blvd S, Gulfport, FL 33707
      View Details
    • $28 SF/Yr
      6,700 SF

      Pasadena Ave Office Suites

      South Pasadena, FL: Prime Office Space
      1420 Pasadena Ave, South Pasadena, FL 33707
      View Details
    • $3,250 /Mo
      1,600 SF

      Prime Freestanding Office Building

      Freestanding office building with high visibility and ample parking.
      6465 1St Ave S, St Petersburg, FL 33707
      View Details
    • $34 SF/Yr
      750 SF

      Prime Downtown Gulfport Retail Space

      Exceptional retail space in the heart of Gulfport's thriving downtown.
      3129 E Beach Blvd S, Gulfport, FL 33707
      View Details
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    1824 Shr S Dr
    South Pasadena, FL 33707-4622
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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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