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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Banks
2551 Tarpon Woods Blvd Palm Harbor, FL 34685-2009
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-4720830
Property summary
AI-generated overview
This exceptional 1.16-acre property, located at 2551 Tarpon Woods Blvd in Palm Harbor, Florida (34685), presents a unique investment opportunity. The former Bank of America branch boasts a total of 50,643 square feet, including 2,901 square feet of heated, rentable indoor space. Built in 1980 and renovated in 2007, this single-story building sits on a highly visible corner lot at a signalized intersection on East Lake Road, experiencing a high traffic volume of 60,000 AADT. The property includes ample parking with 26 spaces. Zoned for Residential Planned Development (RPD) with a Future Land Use designation of R/O/G, permitted uses include banks, medical offices, and traditional office spaces, making it ideal for a variety of businesses such as credit unions, urgent care facilities, or medical/dental practices. The property's PIN is 33-27-16-00000-410-0100 and is owned by TW Palm Harbor East Lake Road LLC. This is a remarkable opportunity to acquire a well-located, versatile commercial property in a thriving area. The asking price is $1,800,000.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1980
Construction
CONCRETE BLOCKS
Total area
2,784 SF
Lot
1.16 ac (50,643 SF)
APN
33-27-16-00000-410-0100
UPID
US18-4720830
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
-
Bank of America Home Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.55M
Owner & transaction history
Tarpon Development Properties LLC · 1 yrs held
Tarpon Development Properties LLC
since 2025
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+28.7%
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 Palm Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Harbor 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
$1,835,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,350,000
Current use
COMMERCIAL (GENERAL)
$1,735,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,155,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10% · vs last sale $1.60M (Oct 23 2024)
Last sale anchor
$1.60M
Oct 23 2024
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
$557 / 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
$17,991
Tax year 2023
Assessed value
$900,000
Assessed 2023
Previous assessed
$842,500
+6.8% YoY
Effective rate
2.00%
On assessed value
Land market value
$558,650
Improvement market value
$341,350
Total market value
$900,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1980
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
1
Total area
2,784 SF
Lot
1.16 ac (50,643 SF)
APN
33-27-16-00000-410-0100
UPID
US18-4720830
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
FINANCIAL BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.2M
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1980
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Tarpon Development Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3360 CAPITAL CIR NE STE A, TALLAHASSEE, FL 32308-1575
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
$1,600,000
Tarpon Development Properties LLC
Tw Palm Harbor East Lake Rd LLC
Special Warranty Deed
—
Dec 7, 2023
$1,300,000
Tw Palm Harbor East Lake Rd LLC
Bank Of America National Associatio
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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