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Property profile & analytics
OFF-MARKET
Estimated value
$32,900,000
Apartment buildings
2481 Coachman Rd Clearwater, FL 33765-1721
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-8423775
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
175,583 SF
Lot
16.83 ac (733,036 SF)
APN
07-29-16-00000-130-0100
UPID
US18-8423775
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
-
MedVisor Medical Billing Service
-
Tennis Pro Strokes Association / Organization
-
Biomagnetic Pair Alternative Medicine Practice
-
Man Vs Dirt Cleaning Services Pressure Washing Service Commercial Cleaning Service
-
Avana Coachman Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.90M
Blend (final)
Blend
$32.90M
Owner & transaction history
Spectrum Sunshine State LLC · 3 yrs held
Spectrum Sunshine State LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$36.5M
+45.0%
Warehouse, storage
$35.2M
+39.7%
Office building
$33.2M
+31.9%
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 Clearwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clearwater 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
APARTMENT HOUSE (5+ UNITS)
$25,170,000
Current use
RETAIL STORES
$36,500,000
Change: +45% · Conversion: Difficult
WAREHOUSE, STORAGE
$35,175,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$33,210,000
Change: +32% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$30,915,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$32.90M
Range $29.61M – $36.19M · ±10%
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
$187 / 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
$626,477
Tax year 2023
Assessed value
$32,500,000
Assessed 2023
Previous assessed
$32,500,000
+0.0% YoY
Effective rate
1.93%
On assessed value
Land market value
$12,287,775
Improvement market value
$20,212,225
Total market value
$32,500,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
2
Units
218
Bathrooms
288
Total area
175,583 SF
Lot
16.83 ac (733,036 SF)
APN
07-29-16-00000-130-0100
UPID
US18-8423775
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$25.2M
RETAIL STORES
Est. value
$36.5M
WAREHOUSE, STORAGE
Est. value
$35.2M
OFFICE BUILDING
Est. value
$33.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$30.9M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
WAREHOUSE, STORAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1985
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Units
218
Bathrooms
288
Lot
16.83 ac
Current owner
From public records · entity-resolved
Spectrum Sunshine State LLC
Entity
Free & Clear · 3 yrs held
Mailing address
120 E 23RD ST FL 9TH, NEW YORK, NY 10010-4519
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2023
—
Spectrum Sunshine State LLC
Gep X Coachman LLC
Agreement Of Sale
—
Aug 31, 2021
$37,600,000
Gep X Coachman LLC
Coachman Crossing LLC
Special Warranty Deed
$24,440,000 · Berkeley Point Capital LLC
Jan 7, 2019
—
Coachman Crossing LLC
—
Deed
related
$12,398,534 · Keybank USA
Jan 2, 2019
—
Coachman Crossing LLC
—
Deed
related
$2,351,465 · Keybank USA
Mar 19, 2015
$18,925,000
Coachman Crossing LLC
Florida Coachman Holdings Ltd
Grant Deed
—
Jul 30, 2004
$11,128,300
Florida Coachman Holdings Ltd
Coachman Crossing Assocs
Grant Deed
related
$12,130,000 · Arbor Realty LP
—
—
Coachman Crossing LLC
—
Loan Modification
related
$12,398,534 · Keybank USA
—
—
Coachman Crossing LLC
—
Loan Modification
related
$2,351,465 · Keybank USA
—
—
Florida Coachman Holdings Ltd
—
Deed Of Trust
related
$2,240,000 · General Electric Capital Corp
—
—
Crossing Assoc LP Coachman
—
Deed Of Trust
related
$6,800,000 · Amresco Capital Corp
—
—
Florida Coachman Holdings Ltd
—
Deed Of Trust
related
$14,220,000 · Holliday Fenoglio Fowler LP
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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