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Property profile & analytics
OFF-MARKET
Estimated value
$34,335,000
Apartment buildings
2045 Bay Dr Largo, FL 33771-6300
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-4532035
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
CONCRETE BLOCKS
Total area
253,424 SF
Lot
9.14 ac (398,030 SF)
APN
35-29-15-70218-400-0400
UPID
US18-4532035
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
-
The Oceanaire Apartments Apartment Complex
-
Sarah Ann Davis Apartment Building
-
Golf Terrace Apartments Apartment Building Apartment Complex
-
Bug Patrol Pest Services of Tampa Bay, LLC Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.34M
Blend (final)
Blend
$34.34M
Owner & transaction history
Oceanaire Apartments LLC · 6 yrs held
Oceanaire Apartments LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$57.0M
+42.9%
Office building
$53.3M
+33.5%
Neighborhood: shopping center
$47.4M
+18.9%
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 Largo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Largo 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)
$39,890,000
Current use
INDUSTRIAL (GENERAL)
$57,000,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$53,270,000
Change: +34% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$47,420,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$47,065,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$34.34M
Range $30.90M – $37.77M · ±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
$135 / 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
$546,153
Tax year 2023
Assessed value
$30,900,000
Assessed 2023
Previous assessed
$30,250,000
+2.1% YoY
Effective rate
1.77%
On assessed value
Land market value
$8,018,019
Improvement market value
$22,881,981
Total market value
$30,900,000
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
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
2
Units
245
Bathrooms
402
Total area
253,424 SF
Lot
9.14 ac (398,030 SF)
APN
35-29-15-70218-400-0400
UPID
US18-4532035
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
$39.9M
INDUSTRIAL (GENERAL)
Est. value
$57.0M
OFFICE BUILDING
Est. value
$53.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$47.4M
RETAIL STORES
Est. value
$47.1M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1972
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Units
245
Bathrooms
402
Lot
9.14 ac
Current owner
From public records · entity-resolved
Oceanaire Apartments LLC
Entity
Mailing address
2045 E BAY DR, LARGO, FL 33771-6300
Ownership since
2019
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
Aug 16, 2019
$25,750,000
Oceanaire Apartments LLC
Golf Terrace Investment Co
Trustees Deed
$24,600,000 · Loancore Cap Credit Reit LLC
Jan 30, 2017
—
Golf Terrace Investment Co
—
Deed
related
$4,975,343 · Seacoast Nat'l Bk
—
—
Golf Terrace Investments Co
—
Deed Of Trust
related
$5,500,000 · City National Bank Of Florida
—
—
Golf Terrace Investment Co
—
Loan Modification
related
$4,975,343 · Seacoast Nat'l Bk
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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