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Property profile & analytics
OFF-MARKET
Estimated value
$1,290,000
Retail space
2228 Central Ave Saint Petersburg, FL 33712-1257
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-3908069
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1951
Construction
CONCRETE BLOCKS
Total area
4,356 SF
Lot
0.1 ac (4,504 SF)
APN
23-31-16-78390-024-0040
UPID
US18-3908069
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
-
Sandbox VR Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$921k
Blend (final)
Blend
$1.29M
Owner & transaction history
2228 Central LLC · 2 yrs held
2228 Central LLC
since 2023
Last sale
$1.7M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.5M
+50.0%
Auto repair, garage
$1.5M
+47.8%
Neighborhood: shopping center
$1.4M
+34.7%
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 Saint Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Petersburg 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
RETAIL STORES
$1,030,000
Current use
WAREHOUSE, STORAGE
$1,540,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,520,000
Change: +48% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,385,000
Change: +35% · Conversion: Moderate
OFFICE BUILDING
$1,295,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$1.29M
Range $1.16M – $1.42M · ±10% · vs last sale $1.66M (Dec 22 2023)
Last sale anchor
$1.66M
Dec 22 2023
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
$296 / 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
$8,531
Tax year 2023
Assessed value
$625,000
Assessed 2023
Previous assessed
$565,000
+10.6% YoY
Effective rate
1.36%
On assessed value
Land market value
$380,491
Improvement market value
$244,509
Total market value
$625,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1951
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
1
Total area
4,356 SF
Lot
0.1 ac (4,504 SF)
APN
23-31-16-78390-024-0040
UPID
US18-3908069
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
RETAIL STORES Current
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
1951
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
2228 Central LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3806 GUNN HWY, TAMPA, FL 33618-8754
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2023
$1,662,400
2228 Central LLC
Phillip J Herbach
Special Warranty Deed
—
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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