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    Property profile & analytics

    3012 James L Redman Pkwy Plant City, FL 33566-9468

    • Retail space
    • 9,291 SF
    • 4.06 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2020
    $2,800,000
    Value Estimations
    $2,800,000
    Show details
    Cap Rate Potential
    2.9%
    Retail space
    Location Intelligence
    Property ID
    US18-3751971
    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

    • Berry Patch Animal Clinic / Veterinary Clinic
    • Oh My Dog! Pet Store / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • Southside Grooming & Salon / Pet Grooming Service

    Property Details for 3012 James L Redman Pkwy

    Year built
    1975
    Construction
    STEEL FRAME
    Lot size
    4.06 lot acres
    Property size
    9,291 SF
    Zone code
    C-1A
    Property type
    Retail space
    APN
    P092922ZZZ000004880500
    APU
    P092922ZZZ000004880500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,125,000
      ML approach
      $3,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,096,000
      Market price range: $623k - $2.10M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,520,000
      APARTMENT HOUSE (5+ UNITS)
      $3,280,000
      MEDICAL BUILDING
      $2,300,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,265,000
      AUTO REPAIR, GARAGE
      $1,755,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.1193
    Latitude
    27.98
    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
    $59,739
    $1,479,765
    $2,175,730
    $3,655,495
    -
    $1,479,765
    $2,175,730
    $3,655,495

    Comparable in this City

    • Value Estimation by Request
      1,703 SF

      4945 Us Hwy 92

      RETAIL STORES (PERSONAL SERVICES) • 1,703 SF
      4945 Us Hwy 92, Plant City, FL 33566-8221
      View Details
    • Value Estimation
      $1,870,000
      20,431 SF

      2802 James L Redman Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 20,431 SF
      2802 James L Redman Pkwy, Plant City, FL 33566-9464
      View Details
    • Value Estimation by Request
      3,394 SF

      2509 James L Redman Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 3,394 SF
      2509 James L Redman Pkwy, Plant City, FL 33566
      View Details
    • Value Estimation
      $1,215,000
      9,171 SF

      2410 Medulla Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,171 SF
      2410 Medulla Rd, Plant City, FL 33566-4642
      View Details
    • Value Estimation by Request
      4,506 SF

      5118 Dr Martin Luther King Jr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,506 SF
      5118 Dr Martin Luther King Jr Blvd, Plant City, FL 33566-7955
      View Details
    • Value Estimation by Request
      2,604 SF

      4811 Us Hwy 92

      RETAIL STORES (PERSONAL SERVICES) • 2,604 SF
      4811 Us Hwy 92, Plant City, FL 33566-8220
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      29,669 SF

      Plant City Retail Investment Opportunity

      27,669 SF retail building in Plant City, Florida.
      2900 James L Redman Pkwy, Plant City, FL 33566
      View Details
    • $1,900,000
      81,596 SF

      Plant City Medical Office Building

      81,596 SF Medical Office, $1.9M
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    • New
      $800,000
      1,716 SF

      Turnkey Bar with COP License

      Profitable bar with COP license, furniture, and established online presence.
      5402 W Us Highway 92 U.S, Plant City, FL 33566
      View Details
    • $699,900

      Land Available in Plant City

      Land for sale in Plant City, Florida.
      James L Redman Pkwy, Plant City, FL 33566
      View Details
    • $365,000
      3.77 Acres

      Vacant Land in Plant City

      3.77-acre vacant land ideal for building, agriculture, or storage.
      Horseshoe Hl Pl, Plant City, FL 33566
      View Details
    • $1,800,000
      17.60 Acres

      Plant City Farm with Development Potential

      18.79-acre Plant City property with home, mobile home, and outbuildings.
      5020 Sydney Rd, Plant City, FL 33566
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    Similar Nearby for Lease

    • $31,800

      Plant City Office/Retail Space

      Office and retail spaces available for lease in Plant City.
      727 Tillman Pl, Plant City, FL 33566
      View Details
    • Contact for pricing
      74,240 SF

      Plant City Retail Center Investment

      High-demand shopping center, space available
      2402 James L Redman Pkwy, Plant City, FL 33566
      View Details
    • Contact for pricing
      2,886 SF

      Prime Outparcel with High Visibility

      0.56-acre outparcel with great visibility and access to I-275.
      2402-2502 James L Redman Pkwy, Plant City, FL 33566
      View Details
    • $5,500 /Mo

      Industrial Land for Lease

      Up to 8.82 acres of industrial outside storage available.
      4609 Lykes Rd, Plant City, FL 33566
      View Details
    • Contact for pricing
      109,328 SF

      Plant City Industrial Space

      Industrial property available for rent in Plant City, Florida.
      4150 Rice Rd, Plant City, FL 33566
      View Details
    • Contact for pricing
      535,507 SF

      Spacious Distribution Center Near I-4

      Large industrial property with logistical advantages in a prime location.
      3017 South County Line Rd, Plant City, FL 33566
      View Details
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    Plant City, FL 33566-9468
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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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