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

    2159 Nursery Rd Clearwater, FL 33764-2620

    • Apartment buildings
    • 45,444 SF
    • 4.84 lot acres
    OFF-MARKET
    Value Estimations
    $10,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8847551
    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

    • Bellair Apartments / Apartment Building
    • bellear gardens / Apartment Complex
    • Oliveira & Santos Services LLC / Hardware & Home Improvement
    • Promenade at Belleair Apartments / Apartment Complex / Apartment Building
    • Rain Or Shine / Hardware & Home Improvement

    Property Details for 2159 Nursery Rd

    Year built
    1973
    Construction
    CONCRETE BLOCKS
    Lot size
    4.84 lot acres
    Property size
    45,444 SF
    Property type
    Apartment buildings
    APN
    24-29-15-00000-440-0400
    APU
    242915000004400400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,126,000
      Market price range: $6.64M - $10.1M
      AI Estimate
      $10,126,000
      Market price range: $6.64M - $10.1M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,750,000
      Current use
      RETAIL STORES
      $9,445,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $9,255,000
      Change: +19% Conversion: Difficult
      OFFICE BUILDING
      $8,530,000
      Change: +10% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $8,000,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7472
    Latitude
    27.9413
    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
    $271,637
    $0.00
    $0.00
    $15,250,000
    -
    $1,947,490
    $13,302,510
    $15,250,000

    Comparable in this City

    • Value Estimation
      $2,215,000
      9,940 SF

      2230 Nursery Rd

      APARTMENT HOUSE (5+ UNITS) • 9,940 SF
      2230 Nursery Rd, Clearwater, FL 33764-2892
      View Details
    • Value Estimation
      $27,260,000
      186,688 SF

      2100 Nursery Rd

      APARTMENT HOUSE (5+ UNITS) • 186,688 SF
      2100 Nursery Rd, Clearwater, FL 33764-2610
      View Details
    • Value Estimation
      $1,995,000
      13,664 SF

      2430 Harn Blvd

      APARTMENT HOUSE (5+ UNITS) • 13,664 SF
      2430 Harn Blvd, Clearwater, FL 33764-2926
      View Details
    • Value Estimation by Request
      74,710 SF

      2025 Rogers St

      APARTMENT HOUSE (5+ UNITS) • 74,710 SF
      2025 Rogers St, Clearwater, FL 33764-6334
      View Details
    • Value Estimation
      $2,535,000
      11,382 SF

      1551 Flournoy W Cir

      APARTMENT HOUSE (5+ UNITS) • 11,382 SF
      1551 Flournoy W Cir, Clearwater, FL 33764-1409
      View Details
    • Value Estimation
      $38,635,000
      201,452 SF

      17368 Us Hwy 19th N

      APARTMENT HOUSE (5+ UNITS) • 201,452 SF
      17368 Us Hwy 19th N, Clearwater, FL 33764
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.02 Acres

      Land in 55+ Community

      Land in a 55+ mobile home cooperative community.
      16940 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $2,200,000
      9,799 SF

      Prime Commercial Development Opportunity

      2.7-acre parcel on US 19 with B-1 zoning.
      11400 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $95,200

      Land Available For Sale

      Land available for purchase in Clearwater, Florida.
      1722 Albemarle Rd, Clearwater, FL 33764
      View Details
    • $33,000

      Grand Bellagio Boat Slip

      Deeded boat slip for Grand Bellagio residents.
      2741 Via, Clearwater, FL 33764
      View Details
    • $2,200,000
      9,799 SF

      Clearwater Mixed-Use Development Opportunity

      2.7-acre parcel in active commercial corridor with development flexibility.
      11400 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $949,000
      5,330 SF

      Clearwater Industrial Warehouse Opportunity

      Highway 19 N, 5330 sq ft warehouse/office
      14377 Us Highway 19, Clearwater, FL 33764
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      57,000 SF

      Clearwater Retail Space For Lease

      Prime Retail Space, 3,200 SF Available
      2138 Gulf To Bay Blvd, Clearwater, FL 33764
      View Details
    • Contact for pricing
      19,132 SF

      Retail Space Near Clearwater Beach

      Retail space in a high-traffic, densely populated area.
      525 S Belcher Rd, Clearwater, FL 33764
      View Details
    • Contact for pricing
      24,118 SF

      Clearwater Industrial Warehouse Space Available

      24,118 SF industrial space with multiple loading doors.
      12290 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $312 /Mo
      146,894 SF

      Prime Pinellas Office Space

      Class A Office, 11,796 SF Available
      18167 Us Highway 19, Clearwater, FL 33764
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on East Bay

      Retail spaces available with high traffic and excellent visibility.
      4825 E Bay Dr, Clearwater, FL 33764
      View Details
    • Contact for pricing

      Retail Destination on US Hwy

      Premier retail destination on US Hwy 19 in Pinellas County.
      5220 E Bay Dr, Largo, FL 33764
      View Details
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    Clearwater, FL 33764-2620
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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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