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    Property profile & analytics

    2480 Bay Dr Largo, FL 33771

    • Strip malls
    • 15,446 SF
    • 6.61 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9349131
    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

    • Blue Q Health And Wellness / Alternative Medicine Practice
    • Frank Perez: Allstate Insurance / Insurance Agency
    • American Financial / Financial Advisor
    • Crafty Framer / (Bike/Boat/Book/etc) Store / Home Decor Store
    • Coastal Nutrition / Restaurant

    Property Details for 2480 Bay Dr

    Year built
    1989
    Construction
    CONCRETE BLOCKS
    Lot size
    6.61 lot acres
    Property size
    15,446 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    36-29-15-00000-230-0500
    APU
    362915000002300500

    Description

    East Bay Junction offers 56,668 square feet of retail space in Largo, Florida's Mid-Pinellas submarket. This single-story building, renovated in 2020, features eleven entrances and ample parking (319 spaces). Currently, the property includes notable tenants such as Whiskey Wings Restaurant and Amped Fitness, and benefits from the shadow-anchor presence of a Winn Dixie grocery store. Two spaces totaling 2,600 square feet are immediately available, with a minimum divisible space of 2,600 square feet. The property is zoned C and enjoys a strategic location with easy access from East Bay Drive and Keene Road, providing excellent visibility and accessibility. The surrounding area is experiencing significant growth and development, including the Horizon on West Bay project, road improvements, park upgrades, and increased residential and commercial opportunities. This vibrant community offers a strong potential customer base for retailers seeking a prime location in a thriving market. The property's convenient location and strong tenant mix make it an attractive investment opportunity. The APN is 36-29-15-00000-230-0500.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,216,000
      Market price range: $1.78M - $4.22M
      AI Estimate
      $4,216,000
      Market price range: $1.78M - $4.22M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,890,000
      Current use
      AUTO REPAIR, GARAGE
      $6,425,000
      Change: +122% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,780,000
      Change: +31% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,475,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $3,245,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $2,870,000
      Change: -1% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,795,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7605
    Latitude
    27.918
    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
    $74,711
    $0.00
    $0.00
    $4,450,000
    -
    $1,737,057
    $2,712,943
    $4,450,000

    Comparable in this City

    • Value Estimation
      $2,550,000
      22,000 SF

      7500 Ulmerton Rd

      SHOPPING CENTER, STRIP CENTER • 22,000 SF
      7500 Ulmerton Rd, Largo, FL 33771-4582
      View Details
    • Value Estimation
      $3,245,000
      11,880 SF

      7210 Ulmerton Rd

      SHOPPING CENTER, STRIP CENTER • 11,880 SF
      7210 Ulmerton Rd, Largo, FL 33771-4831
      View Details
    • Value Estimation by Request
      2,872 SF

      7190 Ulmerton Rd

      SHOPPING CENTER, STRIP CENTER • 2,872 SF
      7190 Ulmerton Rd, Largo, FL 33771-4813
      View Details
    • Value Estimation
      $1,305,000
      9,400 SF

      7149 Ulmerton Rd

      SHOPPING CENTER, STRIP CENTER • 9,400 SF
      7149 Ulmerton Rd, Largo, FL 33771-4820
      View Details
    • Value Estimation
      $2,005,000
      7,350 SF

      10125 Ulmerton Rd

      SHOPPING CENTER, STRIP CENTER • 7,350 SF
      10125 Ulmerton Rd, Largo, FL 33771-3531
      View Details
    • Value Estimation
      $1,015,000
      4,800 SF

      2705 Bay Dr

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      2705 Bay Dr, Largo, FL 33771-2409
      View Details

    Similar Nearby for Sale

    • $555,000

      Largo Mixed-Use Commercial Building

      Turn-key mixed-use commercial building in Largo, suitable for retail, office.
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    • $2,600,000
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      Largo Retail Center: High Growth Potential

      10,696 SF Retail Building, 1.41 Acres
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    • $1,790,000
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      Prime Mixed-Use Development Opportunity

      High-traffic corner lot with existing auto repair shop.
      191 Belcher Rd S, Largo, FL 33771
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    • $1,850,000
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      Largo Commercial Property For Sale

      Two-story commercial property with Bank of America as anchor tenant.
      2600 E Bay Dr, Largo, FL 33771
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    • $1,790,000
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      High-Traffic Corner Development Opportunity

      Prime location near US-19, ideal for retail or flex development.
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    • $1,795,000
      3,520 SF

      High-Traffic Largo Mixed-Use Property

      Prime Largo location, high visibility, development potential.
      191 Belcher Rd, Largo, FL 33771
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space at Busy Intersection

      Retail spaces available in redeveloped shopping center with high traffic.
      East Bay Drive & Keene Rd, Largo, FL 33771
      View Details
    • Contact for pricing
      1,470 SF

      Retail Space in Largo Plaza

      Retail space available in a busy shopping center.
      10500 Ulmerton Rd, Largo, FL 33771
      View Details
    • Contact for pricing

      Retail Space in Largo, Florida

      Retail spaces available in a busy Largo shopping center.
      10500 Ulmerton Rd, Largo, FL 33771
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Tri-City Plaza

      Newly redeveloped retail space in a premier shopping center.
      5110 East Bay Dr, Largo, FL 33771
      View Details
    • Contact for pricing
      15,323 SF

      Retail Space in Largo, Florida

      Retail spaces available in redeveloped shopping center anchored by Sprouts.
      2104-2178 East Bay Dr, Largo, FL 33771
      View Details
    • Contact for pricing
      376,664 SF

      Largo Plaza: Retail Space Available

      Prime Pinellas County retail center; multiple suites available.
      0 Ulmerton Rd. & Seminole Blvd, Largo, FL 33771
      View Details
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    2480 Bay Dr
    Largo, FL 33771
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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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