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

    224 Tarpon Ave Tarpon Springs, FL 34689-4318

    • Turn key restaurants
    • 2,400 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2866955
    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

    • Johnny's Taphouse and Grill / Restaurant / Bar

    Property Details for 224 Tarpon Ave

    Year built
    1972
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    2,400 SF
    Property type
    Turn key restaurants
    APN
    12-27-15-77778-401-0010
    APU
    122715777784010010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $796,000
      Market price range: $650k - $2.33M
      AI Estimate
      $796,000
      Market price range: $650k - $2.33M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tarpon Springs
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7538
    Latitude
    28.1459
    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
    $8,255
    $0.00
    $0.00
    $440,000
    -
    $185,232
    $254,768
    $440,000

    Comparable in this City

    • Value Estimation
      $1,085,000
      3,936 SF

      1981 Pinellas Ave

      RESTAURANT • 3,936 SF
      1981 Pinellas Ave, Tarpon Springs, FL 34689-5749
      View Details
    • Value Estimation
      $975,000
      3,604 SF

      13 Safford Ave

      RESTAURANT • 3,604 SF
      13 Safford Ave, Tarpon Springs, FL 34689-3447
      View Details
    • Value Estimation by Request
      936 SF

      619 Pinellas Ave

      RESTAURANT • 936 SF
      619 Pinellas Ave, Tarpon Springs, FL 34689-3343
      View Details
    • Value Estimation
      $1,465,000
      5,412 SF

      900 Pinellas Ave

      RESTAURANT • 5,412 SF
      900 Pinellas Ave, Tarpon Springs, FL 34689-3350
      View Details
    • Value Estimation
      $3,255,000
      4,575 SF

      40489 Us Hwy 19th N

      RESTAURANT • 4,575 SF
      40489 Us Hwy 19th N, Tarpon Springs, FL 34689-4835
      View Details
    • Value Estimation
      $1,175,000
      3,408 SF

      751 Dodecanese Blvd

      RESTAURANT • 3,408 SF
      751 Dodecanese Blvd, Tarpon Springs, FL 34689-3131
      View Details

    Similar Nearby for Sale

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      Downtown Tarpon Springs Landmark Building

      Landmark mixed-use building in downtown Tarpon Springs for sale.
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      Anclote River Boat Club

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      Waterfront Restaurant and Bar For Sale

      Highway frontage property with established waterfront bar and restaurant.
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    • $1,050,000
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      Gas Station, Repair Shop, Store

      Established gas station, auto repair, and convenience store on 0.21 acres.
      1941 S Pinellas Ave, Tarpon Springs, FL 34689
      View Details
    • $615,000
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      Restored Commercial Space in Tarpon

      Historic building in downtown Tarpon Springs, ideal for various businesses.
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    Similar Nearby for Lease

    • $10 SF/Yr
      4,703 SF

      Tarpon Springs Sponge Docks Retail Space

      Historic Sponge Docks Retail/Restaurant Opportunity
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      View Details
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      44,000 SF

      Savion Center: Tarpon Springs Office

      Prime Office Space, Fully Remodeled
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      View Details
    • $3,500 /Mo
      2,500 SF

      Historic Bar/Restaurant Space Available

      Historic 2,500 SF bar/restaurant space in Downtown Tarpon Springs.
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    • $13 SF/Yr
      5,000 SF

      Tarpon Springs Restaurant - Sponge Docks

      Prime Sponge Docks Restaurant Space. 5,000 sq ft, fully equipped.
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    • $46,800

      Retail Space for Lease

      Retail space available for lease in Tarpon Springs, Florida.
      321 N Safford Ave, Tarpon Springs, FL 34689
      View Details
    • $5,305 /Mo

      Retail Space on US 19

      Retail space for rent with high traffic and great parking.
      39930 Us Highway 19 N, Tarpon Springs, FL 34689
      View Details
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    224 Tarpon Ave
    Tarpon Springs, FL 34689-4318
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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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