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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Warehouses
2202 148th Ave Lutz, FL 33549-3651
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5320024
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,109 SF
Lot
2.39 ac (104,000 SF)
Zoning code
AS-1
APN
U3227191D3000000000350
UPID
US18-5320024
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
$720k
CAP Approach
CAP
$445k
Comparable Approach
Comparable
$757k
Blend (final)
Blend
$590k
Owner & transaction history
Elpidio Alejo · 5 yrs held
Elpidio Alejo
since 2020
Last sale
$555,500
3 recorded transactions
Zoning & alternative use
AS-1 · Lutz, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$760,000
+64.4%
Medical building
$680,000
+47.6%
Retail stores
$675,000
+46.8%
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
$655,000
ML approach
$720,000
CAP Approach
CAP Return
Estimation
6%
$480,000
6.5%
$445,000
7%
$410,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$460,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: +64% · Conversion: Moderate
MEDICAL BUILDING
$680,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$675,000
Change: +47% · Conversion: Moderate
COMMERCIAL (GENERAL)
$655,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$585,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $556k (Dec 22 2020)
Last sale anchor
$556k
Dec 22 2020
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
$190 / 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
$9,810
Tax year 2023
Assessed value
$598,450
Assessed 2023
Previous assessed
$519,245
+15.3% YoY
Effective rate
1.64%
On assessed value
Assessed land
$366,860
Assessed improvement
$231,590
Land market value
$366,860
Improvement market value
$231,590
Total market value
$598,450
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
4
Stories
1
Units
1
Rooms
1
Bathrooms
3
Total area
3,109 SF
Lot
2.39 ac (104,000 SF)
Zoning code
AS-1
APN
U3227191D3000000000350
UPID
US18-5320024
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
AS-1 · Lutz, FL
Zoning AS-1 · permitted uses
AS-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$460,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
MEDICAL BUILDING
Est. value
$680,000
RETAIL STORES
Est. value
$675,000
COMMERCIAL (GENERAL)
Est. value
$655,000
OFFICE BUILDING
Est. value
$625,000
AUTO REPAIR, GARAGE
Est. value
$585,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Units
1
Rooms
1
Bathrooms
3
Lot
2.39 ac
Current owner
From public records · entity-resolved
Elpidio Alejo
Individual
Mailing address
1210 SINCLAIR HLS RD, LUTZ, FL 33549-3505
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2020
$355,500
Elpidio Alejo
Pardue Etta B Trust
Warranty Deed
$475,475 · Blackbridge Capital LLC
Mar 5, 2007
—
Pardue Etta B Trust
Pardue,etta B
Quit Claim Deed
related
—
—
—
Pardue S R
—
Deed Of Trust
related
$50,000 · Suncoast School FCU
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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