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Property profile & analytics
OFF-MARKET
Estimated value
$3,305,000
Turn key restaurants
31151 Us Hwy 19th N Palm Harbor, FL 34684-4438
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-1261790
Property summary
AI-generated overview
This 8,675 square foot free-standing building, formerly a Sweet Tomatoes restaurant, presents a remarkable opportunity in Palm Harbor, Florida. Located on US Highway 19, it boasts exceptional visibility due to its impressive frontage on a road with over 75,000 daily vehicles. The building is a single-story, Class C structure built in 1990, situated on 1.58 acres of land and offering 35+ parking spaces. The property features a 1000 AMP 3-phase electric panel. While previously a restaurant, the zoning (CP1) allows for adaptable uses, subject to Pinellas County approval. The building includes commercial-grade kitchen equipment (removable upon request) and is ideal for various businesses seeking high visibility and convenient access. Its location within a thriving commercial hub, surrounded by residential areas, ensures a strong customer base. This second-generation restaurant space offers a turnkey solution for businesses looking to establish or expand their presence in this vibrant community. Additional kitchen photos are forthcoming.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1990
Construction
CONCRETE BLOCKS
Total area
8,675 SF
Lot
1.59 ac (69,234 SF)
APN
18-28-16-00000-120-0330
UPID
US18-1261790
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
$3.57M
Blend (final)
Blend
$3.31M
Owner & transaction history
31151 Highway 19 LLC · 1 yrs held
31151 Highway 19 LLC
since 2024
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.4M
+10.0%
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
$4,530,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,915,000
Current use
COMMERCIAL (GENERAL)
$5,405,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$3.31M
Range $2.97M – $3.64M · ±10% · vs last sale $2.42M (Jun 21 2023)
Last sale anchor
$2.42M
Jun 21 2023
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
$381 / 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
$37,687
Tax year 2023
Assessed value
$1,975,000
Assessed 2023
Previous assessed
$1,845,000
+7.0% YoY
Effective rate
1.91%
On assessed value
Land market value
$950,822
Improvement market value
$1,024,178
Total market value
$1,975,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1990
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
4
Total area
8,675 SF
Lot
1.59 ac (69,234 SF)
APN
18-28-16-00000-120-0330
UPID
US18-1261790
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
RESTAURANT Current
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$5.4M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1990
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1.59 ac
Current owner
From public records · entity-resolved
31151 Highway 19 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
201 SHR DR, PALM HARBOR, FL 34683-5442
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2024
—
31151 Highway 19 LLC
M & D Properties LLC
Quitclaim Deed
related
—
Jun 21, 2023
$2,421,000
M & D Properties LLC
Lupresn 3 LLC
Warranty Deed
—
Dec 31, 2008
$1,129,020
Kevin M Levine
Morgan Frank & Jerelyn Trust
Grant Deed
—
Dec 31, 2008
$3,100,000
Lupresn 3 LLC
Morgan Frank & J Trust
Grant Deed
$1,787,500 · Whitney National Bank
Apr 27, 2005
$2,788,800
Frank L Morgan
Cnl Net Lease Funding 2003 LLC
Special Warranty Deed
$1,867,687 · Bmc Capital LP
Mar 18, 2004
$2,425,000
Cnl Net Lease Funding 2003 LLC
Garden Fresh Restaurant Corp
Grant Deed
related
$3,031,250 · Wells Fargo Bank Trustee
—
—
Lupresn 3 LLC
—
Loan Modification
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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