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    Property profile & analytics

    2441 Bay Dr Largo, FL 33770-1932

    • Turn key restaurants
    • 2,819 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2867987
    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

    • Venus Restaurants / Restaurant

    Property Details for 2441 Bay Dr

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    0.37 lot acres
    Property size
    2,819 SF
    Property type
    Turn key restaurants
    APN
    32-29-15-55350-012-0010
    APU
    322915553500120010

    Description

    This thriving Largo, Florida restaurant presents a unique investment opportunity. Established in 1996 and renovated in 2014, this 3,695 square foot, single-story building sits on a 14,785 square foot lot and offers 2,819 square feet of net rentable space. The property boasts 20 parking spaces, a significant advantage in a high-traffic area. Currently operating as a popular breakfast and lunch spot, the restaurant recently expanded to include dinner service with a beer and wine license. With 130 seats, including both indoor and outdoor dining areas, and a fully equipped kitchen, the business benefits from a loyal customer base of locals and tourists. The current owner is retiring, presenting a chance for expansion, including the addition of a liquor license and potential building additions. Located near beaches and golf courses, this turnkey operation offers immediate income potential and significant upside. The asking price is $399,000, with a price per square foot of $107.98. This is a Net Lease (NNN) property. Don't miss this chance to acquire a well-established and profitable business in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $768,000
      Market price range: $764k - $2.74M
      AI Estimate
      $768,000
      Market price range: $764k - $2.74M

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

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.8139
    Latitude
    27.9164
    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
    $7,875
    $0.00
    $0.00
    $425,000
    -
    $237,509
    $187,491
    $425,000

    Comparable in this City

    • Value Estimation
      $2,170,000
      5,764 SF

      2819 Bay Dr

      RESTAURANT • 5,764 SF
      2819 Bay Dr, Belleair Bluffs, FL 33770-2619
      View Details
    • Value Estimation
      $750,000
      2,480 SF

      999 Missouri N Ave

      RESTAURANT • 2,480 SF
      999 Missouri N Ave, Largo, FL 33770-1811
      View Details
    • Value Estimation
      $1,630,000
      5,795 SF

      776 Missouri N Ave

      RESTAURANT • 5,795 SF
      776 Missouri N Ave, Largo, FL 33770-1808
      View Details
    • Value Estimation
      $1,620,000
      5,090 SF

      940 Missouri N Ave

      RESTAURANT • 5,090 SF
      940 Missouri N Ave, Largo, FL 33770-1812
      View Details
    • Value Estimation
      $535,000
      1,898 SF

      1150 Clearwater Largo N Rd

      RESTAURANT • 1,898 SF
      1150 Clearwater Largo N Rd, Largo, FL 33770-4131
      View Details
    • Value Estimation
      $880,000
      3,254 SF

      1921 Bay Dr

      RESTAURANT • 3,254 SF
      1921 Bay Dr, Largo, FL 33770-3034
      View Details

    Similar Nearby for Sale

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      High-return, multi-tenant retail property.
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    • $8,200,000
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      Retail property with 14,490 square feet, close to beach.
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    Similar Nearby for Lease

    • $2,799 /Mo
      Pending

      Equipped Restaurant Space For Lease

      Fully equipped restaurant for lease in prime Largo location.
      312 Bay Dr W, Largo, FL 33770
      View Details
    • $1,500 /Mo
      4,356 SF

      Restaurant Space in Downtown Largo

      Restaurant space for rent in upcoming downtown Largo, Florida.
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      View Details
    • $2,799 /Mo
      Pending

      Equipped Restaurant Space For Lease

      Fully equipped restaurant space for lease in Largo, Florida.
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      View Details
    • Contact for pricing
      1,018 SF

      Retail Space in Liberty Yards

      Retail space for lease in a high-traffic Largo location.
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      View Details
    • $28,950

      Prime Retail/Office Space Available

      Retail/office space in desirable location with high visibility.
      400 Indian Rocks Rd N A, Belleair Bluffs, FL 33770
      View Details
    • Contact for pricing

      Retail Space in Largo, Florida

      Retail property for lease in a high-traffic Largo location.
      1111 Missouri Ave N, Largo, FL 33770
      View Details
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    Largo, FL 33770-1932
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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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