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Property profile & analytics
OFF-MARKET
Estimated value
$28,295,000
Apartment buildings
2035 Philippe Pkwy Safety Harbor, FL 34695-2200
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-0894985
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Construction
CONCRETE BLOCKS
Total area
148,256 SF
Lot
9.28 ac (404,324 SF)
APN
34-28-16-00000-130-0200
UPID
US18-0894985
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
$28.29M
Blend (final)
Blend
$28.30M
Owner & transaction history
Safety Harbor Property Holdings LLC · 8 yrs held
Safety Harbor Property Holdings LLC
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$41.2M
+9.9%
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 Safety Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Safety Harbor 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
APARTMENT HOUSE (5+ UNITS)
$37,440,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$41,155,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$35,545,000
Change: -5% · Conversion: Moderate
RETAIL STORES
$32,715,000
Change: -13% · Conversion: Difficult
WAREHOUSE, STORAGE
$32,605,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$28.30M
Range $25.47M – $31.12M · ±10%
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
$191 / 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
$384,108
Tax year 2023
Assessed value
$22,150,000
Assessed 2023
Previous assessed
$21,250,000
+4.2% YoY
Effective rate
1.73%
On assessed value
Land market value
$4,228,052
Improvement market value
$17,921,948
Total market value
$22,150,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1974
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
2
Units
200
Bathrooms
235
Total area
148,256 SF
Lot
9.28 ac (404,324 SF)
APN
34-28-16-00000-130-0200
UPID
US18-0894985
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$37.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$41.2M
OFFICE BUILDING
Est. value
$35.5M
RETAIL STORES
Est. value
$32.7M
WAREHOUSE, STORAGE
Est. value
$32.6M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1974
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Units
200
Bathrooms
235
Lot
9.28 ac
Current owner
From public records · entity-resolved
Safety Harbor Property Holdings LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3240 AIRFIELD DR E, LAKELAND, FL 33811-1247
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2017
$21,000,000
Safety Harbor Property Holdings LLC
Safety Harbor Multifamily Parner
Special Warranty Deed
—
Jun 13, 2014
$11,500,000
Harbour Multifamily Par Safety
Bayshore Palms Apartments INC
Grant Deed
—
Jan 24, 2001
$4,682,000
Bayshore Palms Apartments INC
Philippe Landing Safety Harbor
Grant Deed
$5,360,000 · Ncs Commercial Funding LLC
Feb 9, 1990
$4,600,000
Landing In Philippe
Ca,fed Bk
Grant Deed
related
$3,680,000 · California Fsb
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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