Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$30,480,000
Office buildings
3302 Cres Park Dr Riverview, FL 33578
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-3356057
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
120,040 SF
Lot
84.84 ac (3,695,641 SF)
Zoning code
IPD-3
APN
U3129202HQ000000C00000
UPID
US18-3356057
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
$29.17M
Comparable Approach
Comparable
$28.75M
Blend (final)
Blend
$30.48M
Owner & transaction history
Eastgroup Properties LP · 1 yrs held
Eastgroup Properties LP
since 2025
Last sale
$32.0M
1 recorded transaction
Zoning & alternative use
IPD-3 · Riverview, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$42.4M
+56.7%
Medical building
$29.7M
+10.0%
Neighborhood: shopping center
$29.3M
+8.4%
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 Riverview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverview 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%
$31,595,000
6.5%
$29,165,000
7%
$27,080,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$27,020,000
Current use
APARTMENT HOUSE (5+ UNITS)
$42,350,000
Change: +57% · Conversion: Easy
MEDICAL BUILDING
$29,730,000
Change: +10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$29,285,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$26,150,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$25,285,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$22,650,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$30.48M
Range $27.43M – $33.53M · ±10% · vs last sale $32.00M (Feb 9 2025)
Last sale anchor
$32.00M
Feb 9 2025
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
$254 / 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
$1,146,950
Tax year 2023
Assessed value
$66,424,600
Assessed 2023
Previous assessed
$66,424,600
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$15,179,407
Assessed improvement
$51,245,193
Land market value
$15,179,407
Improvement market value
$51,245,193
Total market value
$66,424,600
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
4
Stories
3
Units
1
Rooms
300
Total area
120,040 SF
Lot
84.84 ac (3,695,641 SF)
Zoning code
IPD-3
APN
U3129202HQ000000C00000
UPID
US18-3356057
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
IPD-3 · Riverview, FL
Zoning IPD-3 · permitted uses
IPD-3 · Riverview, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$27.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$42.4M
MEDICAL BUILDING
Est. value
$29.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$29.3M
RETAIL STORES
Est. value
$26.2M
COMMERCIAL (GENERAL)
Est. value
$25.3M
AUTO REPAIR, GARAGE
Est. value
$22.7M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
4
Units
1
Rooms
300
Lot
84.84 ac
Current owner
From public records · entity-resolved
Eastgroup Properties LP
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 89429, CLEVELAND, OH 44101-6429
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2025
$32,000,000
Eastgroup Properties LP
Progressive Casualty Insurance Comp
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3302 Cres Park Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
