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Property profile & analytics
OFF-MARKET
Estimated value
$1,610,000
Strip malls
2615 Dr Martin Luther King Jr N St Saint Petersburg, FL 33704-2719
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-5174685
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,439 SF
Lot
0.33 ac (14,392 SF)
APN
07-31-17-68814-000-0010
UPID
US18-5174685
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$1.61M
Owner & transaction history
The Violet Rabbit Corp · 1 yrs held
The Violet Rabbit Corp
since 2025
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.1M
+22.9%
Auto repair, garage
$1.9M
+9.8%
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 Saint Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Petersburg 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
NEIGHBORHOOD: SHOPPING CENTER
$1,730,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,125,000
Change: +23% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,900,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$1,615,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±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
$296 / 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
$19,064
Tax year 2023
Assessed value
$960,000
Assessed 2023
Previous assessed
$895,000
+7.3% YoY
Effective rate
1.99%
On assessed value
Land market value
$560,319
Improvement market value
$399,681
Total market value
$960,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
6
Total area
5,439 SF
Lot
0.33 ac (14,392 SF)
APN
07-31-17-68814-000-0010
UPID
US18-5174685
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
6
Lot
0.33 ac
Current owner
From public records · entity-resolved
The Violet Rabbit Corp
Entity
Free & Clear · 1 yrs held
Mailing address
262 4TH AVE N, SAINT PETERSBURG, FL 33701-2912
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2025
—
The Violet Rabbit Corp
Mlk LLC
Deed
—
Aug 11, 2021
$1,055,000
2615 Mlk LLC
Hkc LLC
Warranty Deed
$720,000 · Republic Bank & Trust Co
May 13, 2019
$100
Athenakin LLC
Gregg Virginia R Trust
Quit Claim Deed
related
—
May 16, 2017
—
Hkc LLC
Christman Herbert K Trust
Quit Claim Deed
related
—
Oct 18, 2016
—
Gregg,virginia R Trust
Gregg,virginia R
Quit Claim Deed
related
—
Aug 21, 2014
—
Christman,herbert K Trust
Christman,h K
Quit Claim Deed
related
—
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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