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Property profile & analytics
OFF-MARKET
Estimated value
$15,355,000
Assisted living facilities
3480 Mcmullen Booth Rd Clearwater, FL 33761-1421
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-5317479
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1987
Construction
FRAME
Total area
45,827 SF
Lot
5.7 ac (248,270 SF)
APN
16-28-16-28284-000-0020
UPID
US18-5317479
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
Current use
Occupant on record · Public records
-
Palm Garden of Clearwater Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.20M
Blend (final)
Blend
$15.36M
Owner & transaction history
Pgcle Re LLC · 1 yrs held
Pgcle Re LLC
since 2024
Last sale
$12.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$23.5M
+85.1%
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 Clearwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clearwater 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$12,690,000
Current use
RESTAURANT
$23,485,000
Change: +85% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$11,065,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$10,450,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$15.36M
Range $13.82M – $16.89M · ±10% · vs last sale $12.52M (Apr 17 2024)
Last sale anchor
$12.52M
Apr 17 2024
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
$335 / 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
$155,077
Tax year 2023
Assessed value
$8,045,000
Assessed 2023
Previous assessed
$7,602,328
+5.8% YoY
Effective rate
1.93%
On assessed value
Land market value
$1,477,201
Improvement market value
$6,567,799
Total market value
$8,045,000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1987
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
10
Bathrooms
120
Total area
45,827 SF
Lot
5.7 ac (248,270 SF)
APN
16-28-16-28284-000-0020
UPID
US18-5317479
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$12.7M
RESTAURANT
Est. value
$23.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.1M
OFFICE BUILDING
Est. value
$10.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1987
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
10
Buildings
2
Bathrooms
120
Lot
5.7 ac
Current owner
From public records · entity-resolved
Pgcle Re LLC
Entity
Mailing address
2033 MAIN ST STE #300, SARASOTA, FL 34237-6062
Mailing matches property
Yes
Owner-occupied
Yes
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
Aug 1, 2024
—
Pgcle Re LLC
Florida Convalescent Centers INC
Correction Deed
related
—
Jul 17, 2024
$12,515,878
Pgcle Re LLC
Florida Convalescent Centers INC
Warranty Deed
—
Oct 7, 2016
—
Florida Convalescent Centers I
—
Deed
related
$125,000,000 · Capital One NA
Nov 4, 2013
—
Longhorn Properties INC
Sa-pg Operator Holdings LLC
Quit Claim Deed
related
—
Apr 10, 2008
—
Florida Convalescent Centers INC
Kingwood Properties INC
Deed
$42,000,000 · The Privatebank & Trust Co
—
—
Florida Convalescent Ctrs INC
—
Deed Of Trust
related
$85,000,000 · Regions Bk/fayette
—
—
Florida Convalescent Centers I
—
Loan Modification
related
$125,000,000 · Capital One NA
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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