Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$10,820,000
Warehouses
21731 State Rd 54 Lutz, FL 33549-6922
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-0195500
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2001
Total area
32,100 SF
Lot
4.71 ac (205,168 SF)
Zoning code
00C2
APN
25-26-18-0000-05300-0031
UPID
US18-0195500
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
-
Life Storage - Lutz Storage Facility
-
FERNBROOK LANDSCAPING Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.17M
Blend (final)
Blend
$10.82M
Owner & transaction history
Life Storage LP · 4 yrs held
Life Storage LP
since 2022
Last sale
$10.7M
6 recorded transactions
Zoning & alternative use
00C2 · Lutz, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.3M
+265.5%
Retail stores
$8.1M
+81.7%
Medical building
$7.0M
+58.2%
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 Lutz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lutz 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
$11,570,000
ML approach
$10,355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$16,250,000
Change: +266% · Conversion: Difficult
RETAIL STORES
$8,075,000
Change: +82% · Conversion: Moderate
MEDICAL BUILDING
$7,030,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$10.82M
Range $9.74M – $11.90M · ±10% · vs last sale $10.68M (Jan 12 2022)
Last sale anchor
$10.68M
Jan 12 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
$337 / 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
$112,857
Tax year 2023
Assessed value
$6,435,060
Assessed 2023
Previous assessed
$6,497,334
-1.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$755,966
Assessed improvement
$5,679,094
Land market value
$755,966
Improvement market value
$5,679,094
Total market value
$6,435,060
Applied tax rate
3,600.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
6
Stories
1
Units
300
Bathrooms
2
Total area
32,100 SF
Lot
4.71 ac (205,168 SF)
Zoning code
00C2
APN
25-26-18-0000-05300-0031
UPID
US18-0195500
Jurisdiction
PASCO
Zoning & alternative use
00C2 · Lutz, FL
Zoning 00C2 · permitted uses
00C2 · Lutz, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lutz. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$16.3M
RETAIL STORES
Est. value
$8.1M
MEDICAL BUILDING
Est. value
$7.0M
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
6
Units
300
Bathrooms
2
Lot
4.71 ac
Current owner
From public records · entity-resolved
Life Storage LP
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2022
$10,676,250
Life Storage LP
54 41 Storage LLC
Special Warranty Deed
—
Oct 7, 2019
—
54/41 Storage LLC
—
Deed
related
$167,200,000 · Wells Fargo Bk
Jan 31, 2000
$400,000
Cutler Ridge Regional Center
Simkins Industries INC
Grant Deed
—
—
—
54/41 Storage LLC
—
Loan Modification
related
$167,200,000 · Wells Fargo Bk
—
—
Nagel Holdings LLC
—
Deed Of Trust
related
$90,000,000 · Cantor Commercial Real Estate
—
—
Rfr Storage Partners INC
—
Deed Of Trust
related
$582,260 · Greenwich Capital Fin'l INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 21731 State Rd 54?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
