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Property profile & analytics
OFF-MARKET
Estimated value
$5,160,000
Turn key restaurants
3665 Ulmerton Rd Clearwater, FL 33762-4257
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US18-3379827
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1988
Construction
CONCRETE BLOCKS
Total area
13,475 SF
Lot
1.82 ac (79,083 SF)
APN
03-30-16-70884-400-1202
UPID
US18-3379827
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
-
Famous Martinis Fine Wine Catering Restaurant
-
Bascom's Chop House Restaurant
-
HillsBorough Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.16M
Blend (final)
Blend
$5.16M
Owner & transaction history
Clearwater Real Estate Co LLC · 22 yrs held
Clearwater Real Estate Co LLC
since 2004
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+14.6%
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
RESTAURANT
$6,905,000
Current use
AUTO REPAIR, GARAGE
$7,915,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$5.16M
Range $4.64M – $5.68M · ±10%
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
$383 / 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
$46,532
Tax year 2023
Assessed value
$2,440,000
Assessed 2023
Previous assessed
$2,125,000
+14.8% YoY
Effective rate
1.91%
On assessed value
Land market value
$1,156,223
Improvement market value
$1,283,777
Total market value
$2,440,000
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
1988
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
6
Total area
13,475 SF
Lot
1.82 ac (79,083 SF)
APN
03-30-16-70884-400-1202
UPID
US18-3379827
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
$6.9M
AUTO REPAIR, GARAGE
Est. value
$7.9M
RESTAURANT Current
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
1988
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
6
Lot
1.82 ac
Current owner
From public records · entity-resolved
Clearwater Real Estate Co LLC
Entity
Mailing address
2325 ULMERTON RD STE #20, CLEARWATER, FL 33762-3373
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2019
—
St Petersburg Of Clearwater Airpo
—
Deed
related
$2,255,556 · Valley Nat'l Bk
May 19, 2004
$2,200,000
Clearwater Real Estate Co LLC
Pepes Of Florida INC
Grant Deed
$1,760,000 · Bank Of America
Jul 15, 1998
$1,300,000
Pepes Of Florida INC
Pepe Restaurant INC
Grant Deed
related
—
—
—
St Petersburg Of Clearwater Airpo
—
Loan Modification
related
$2,255,556 · Valley Nat'l Bk
—
—
Pepe Restaurant INC
—
Deed Of Trust
related
$630,000 · Barnett Bank
—
—
Bascoms Steakhouse INC
—
Deed Of Trust
related
$334,394 · Rms LP
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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