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    2598 Bayshore Blvd Dunedin, FL 34698-2003
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    Property profile & analytics

    2598 Bayshore Blvd, Dunedin, FL 34698-2003

    View on Map
    • Retail space
    • 15,740 SF
    • 1.64 lot acres
    Off-Market
    Last Sale Jun 1, 2023
    $6,847,000
    Property ID
    US18-5086573
    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.
    Value Estimations
    $5,085,000
    Show details
    Cap Rate Potential
    3%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens Pharmacy / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • FedEx OnSite / Postal Service / Courier Service
    • Blue Rhino Propane Exchange / Propane Supplier

    Property Details for 2598 Bayshore Blvd

    Year built
    1998
    Construction
    CONCRETE BLOCKS
    Lot size
    1.64 lot acres
    Property type
    Retail space
    APN
    15-28-15-23166-006-0100
    APU
    152815231660060100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 1, 2023 $6,847,000 Warner Industrial LLC Cp Thunder Fs LLC Special Warranty Deed —
    Sep 6, 2022 — Walgreen Co Cp Thunder Fs LLC Lease —
    Sep 6, 2022 $6,267,500 Cp Thunder Fs LLC Walgreen Co Special Warranty Deed $241.5M · Wells Fargo Bank NA
    Jan 23, 1998 $100,000 First Union National Bank Olympia Development Group INC Grant Deed · related —
    Jun 23, 1997 $1,100,000 Olympia Development Group INC Woodray INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,663,000
      Market price range: $1.90M - $5.13M
      AI Estimate
      $4,663,000
      Market price range: $1.90M - $5.13M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,475,000
      Current use
      AUTO REPAIR, GARAGE
      $6,520,000
      Change: +88% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $5,775,000
      Change: +66% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,370,000
      Change: +26% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,460,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dunedin
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7812
    Latitude
    28.0493
    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
    $54,943
    $0.00
    $0.00
    $3,135,000
    -
    $1,280,765
    $1,854,235
    $3,135,000

    Comparable in this City

    • Value Estimation
      $4,535,000
      35,100 SF

      1750 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1750 Main St, Dunedin, FL 34698-6401
      View Details
    • Value Estimation by Request
      1,000 SF

      2430 Bayshore Blvd

      RETAIL STORES (PERSONAL SERVICES)
      2430 Bayshore Blvd, Dunedin, FL 34698-2001
      View Details
    • Value Estimation
      $1,935,000
      7,372 SF

      1433 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1433 Main St, Dunedin, FL 34698-6243
      View Details
    • Value Estimation by Request
      448 SF

      765 Main St

      RETAIL STORES (PERSONAL SERVICES)
      765 Main St, Dunedin, FL 34698-5042
      View Details
    • Value Estimation by Request
      735 SF

      636 Skinner Blvd

      RETAIL STORES (PERSONAL SERVICES)
      636 Skinner Blvd, Dunedin, FL 34698-5853
      View Details
    • Value Estimation by Request
      800 SF

      332 Skinner Blvd

      RETAIL STORES (PERSONAL SERVICES)
      332 Skinner Blvd, Dunedin, FL 34698-5769
      View Details

    Similar Nearby for Sale

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      Two-story building in downtown Dunedin near shops and restaurants.
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      Dunedin Retail Investment Opportunity

      Prime downtown Dunedin property with redevelopment potential and existing store.
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    • $4,125,000
      31,200 SF

      Dunedin Main Street Retail Center

      High-traffic retail space, prime location.
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    Similar Nearby for Lease

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      1,301 SF

      Retail Space in Dunedin, FL

      Retail space available in Dunedin, with high traffic and visibility.
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      Dunedin Retail Space Available

      Retail space available for lease in Dunedin, Florida.
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      8,320 SF

      Retail Space in Dunedin, FL

      Former Family Dollar retail space available for rent.
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      4,200 SF

      Dunedin Retail/Medical Space Available

      Retail and medical spaces for lease in Dunedin, Florida.
      1721-1757 Main St, Dunedin, FL 34698
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    • $120,000
      4,680 SF

      Dunedin Commercial Space For Lease

      Two-story commercial building in downtown Dunedin, suitable for various uses.
      220 Scotland St, Dunedin, FL 34698
      View Details
    • Contact for pricing
      933 SF

      Retail Space in Dunedin Plaza

      Retail space available in high-traffic Dunedin shopping center.
      1491-1547 Main St, Dunedin, FL 34698
      View Details
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    Dunedin, FL 34698-2003
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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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