Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Warehouses
34234 State Rd 54 Wesley Chapel, FL 33543-9120
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4001626
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1975
Total area
6,000 SF
Lot
0.75 ac (32,583 SF)
Zoning code
00C2
APN
18-26-21-0010-10200-0050
UPID
US18-4001626
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
$590k
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$957k
Blend (final)
Blend
$755k
Owner & transaction history
Ajay Patel · 4 yrs held
Ajay Patel
since 2021
Last sale
$750,000
1 recorded transaction
Zoning & alternative use
00C2 · Wesley Chapel, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+26.2%
Office building
$885,000
+6.8%
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 Wesley Chapel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wesley Chapel 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
$640,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$830,000
Current use
COMMERCIAL (GENERAL)
$1,050,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$885,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $750k (Dec 29 2021)
Last sale anchor
$750k
Dec 29 2021
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
$126 / 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
$10,233
Tax year 2023
Assessed value
$616,089
Assessed 2023
Previous assessed
$515,324
+19.6% YoY
Effective rate
1.66%
On assessed value
Assessed land
$287,956
Assessed improvement
$328,133
Land market value
$287,956
Improvement market value
$328,133
Total market value
$616,089
Applied tax rate
3,600.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
5808
Bathrooms
1
Total area
6,000 SF
Lot
0.75 ac (32,583 SF)
Zoning code
00C2
APN
18-26-21-0010-10200-0050
UPID
US18-4001626
Jurisdiction
PASCO
Zoning & alternative use
00C2 · Wesley Chapel, FL
Zoning 00C2 · permitted uses
00C2 · Wesley Chapel, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wesley Chapel. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$885,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1975
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
5808
Bathrooms
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Ajay Patel
Individual
Mailing address
4350 HIGHCROFT DR, WESLEY CHAPEL, FL 33545-5221
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 29, 2021
$750,000
Ajay Patel
Gloria Parks
Warranty Deed
$450,000 · Parks Family Trust
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 34234 State Rd 54?
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.
