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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3491 62nd N Ave Pinellas Park, FL 33781-6200

    • Apartment buildings
    • 20,653 SF
    • 1.59 lot acres
    OFF-MARKET
    Last Sale
    Oct 01, 2021
    $5,700,000
    Value Estimations
    $5,225,000
    Show details
    Cap Rate Potential
    3.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-2209538
    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

    • Frank Cascio Home painting / Bathroom Remodeler / Kitchen Remodeler
    • Touched By An Angel Ministries / Non-Profit Organization
    • MaikumCdeDeals / Auto Broker

    Property Details for 3491 62nd N Ave

    Year built
    1988
    Construction
    CONCRETE BLOCKS
    Lot size
    1.59 lot acres
    Property size
    20,653 SF
    Property type
    Apartment buildings
    APN
    34-30-16-47034-000-0011
    APU
    343016470340000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,474,000
      Market price range: $2.47M - $4.47M
      AI Estimate
      $4,474,000
      Market price range: $2.47M - $4.47M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,195,000
      Current use
      AUTO REPAIR, GARAGE
      $6,790,000
      Change: +113% Conversion: Difficult
      WAREHOUSE, STORAGE
      $5,850,000
      Change: +83% Conversion: Difficult
      OFFICE BUILDING
      $5,775,000
      Change: +81% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $5,735,000
      Change: +79% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,595,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pinellas Park
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6811
    Latitude
    27.8288
    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
    $102,906
    $0.00
    $0.00
    $4,850,000
    -
    $1,281,968
    $3,568,032
    $4,850,000

    Comparable in this City

    • Value Estimation
      $775,000
      3,575 SF

      3800 62nd N Ave

      APARTMENT HOUSE (5+ UNITS) • 3,575 SF
      3800 62nd N Ave, Pinellas Park, FL 33781-6005
      View Details
    • Value Estimation
      $810,000
      3,750 SF

      4200 62nd N Ave

      APARTMENT HOUSE (5+ UNITS) • 3,750 SF
      4200 62nd N Ave, Pinellas Park, FL 33781-6058
      View Details
    • Value Estimation
      $9,800,000
      82,052 SF

      7700 66th N St

      APARTMENT HOUSE (5+ UNITS) • 82,052 SF
      7700 66th N St, Pinellas Park, FL 33781-3167
      View Details
    • Value Estimation
      $620,000
      2,856 SF

      4570 70th N Ave

      APARTMENT HOUSE (5+ UNITS) • 2,856 SF
      4570 70th N Ave, Pinellas Park, FL 33781-4547
      View Details
    • Value Estimation by Request
      2,263 SF

      5501 70th N Ave

      APARTMENT HOUSE (5+ UNITS) • 2,263 SF
      5501 70th N Ave, Pinellas Park, FL 33781-4260
      View Details
    • Value Estimation by Request
      2,150 SF

      7133 72nd N Ave

      APARTMENT HOUSE (5+ UNITS) • 2,150 SF
      7133 72nd N Ave, Pinellas Park, FL 33781-3819
      View Details

    Similar Nearby for Sale

    • $1,325,000

      Pinellas Park 6-Unit Apartment Complex

      6-unit apartment complex in Pinellas Park, Florida. Strong rental demand.
      5881 72Nd Ave N, Pinellas Park, FL 33781
      View Details
    • $84,900

      Pinellas Park Multifamily Property

      Multifamily property for sale in Pinellas Park, Florida.
      34179 Canal Dr N, Pinellas Park, FL 33781
      View Details
    • $106,900

      Spacious Doublewide in 55+ Community

      Two-bedroom, two-bath doublewide in Greenbrier Village, a 55+ community.
      6100 62Nd Ave N 50, Pinellas Park, FL 33781
      View Details
    • $137,000

      Updated Home with Share Included

      Updated 2 bed, 2 bath home with share included.
      34557 Gardenia Dr N, Pinellas Park, FL 33781
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    • $87,900

      55+ Community Home with Golf Cart

      Spacious 1 bed, 1 bath home in active 55+ community.
      34440 Oleander Dr N, Pinellas Park, FL 33781
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    • $49,900

      Fixer Upper in 55+ Community

      Mobile home in a 55+ community, ideal for investors.
      82008 A St N 8, Pinellas Park, FL 33781
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      66,702 SF

      Gandy Center Office Space Available

      Prime Pinellas Park Office Building, Flexible Suites
      3491 Gandy Blvd, Pinellas Park, FL 33781
      View Details
    • $65,000

      Prime Pinellas County Commercial Land

      .74-Acre Vacant Lot - Ground Lease Opportunity
      8331 66Th St, Pinellas Park, FL 33781
      View Details
    • Contact for pricing

      Pinellas Park Commercial Location

      Located near signalized intersection of 62nd Ave & 58th St N.
      5812 62Nd Ave N, Pinellas Park, FL 33781
      View Details
    • Contact for pricing
      81,299 SF

      Park 66 Plaza Retail Space

      Pinellas Park storefront, 10 sq ft available
      7450-7660 66Th St, Pinellas Park, FL 33781
      View Details
    • $22 SF/Yr
      6,573 SF

      Park Blvd Retail Space - Pinellas Park

      Prime Retail Space, High Traffic Area
      6980 Park Blvd, Pinellas Park, FL 33781
      View Details
    • Contact for pricing

      Pinellas Park Signalized Intersection Location

      Located at a signalized intersection in Pinellas Park.
      5800 62Nd Ave N, Pinellas Park, FL 33781
      View Details
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    3491 62nd N Ave
    Pinellas Park, FL 33781-6200
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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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