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Property profile & analytics
OFF-MARKET
Estimated value
$11,545,000
Apartment buildings
380 Martin Luther King Jr Ave Clearwater, FL 33756-5731
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-4333524
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Construction
FRAME
Total area
79,314 SF
Lot
0.44 ac (19,341 SF)
APN
15-29-15-16830-002-0140
UPID
US18-4333524
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
by Request
Comparable Approach
Comparable
$11.55M
Blend (final)
Blend
$11.55M
Owner & transaction history
Madison Point LLC · 8 yrs held
Madison Point LLC
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$16.5M
+3.9%
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
APARTMENT HOUSE (5+ UNITS)
$15,875,000
Current use
RETAIL STORES
$16,490,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$13,965,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$13,455,000
Change: -15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$13,085,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$11.55M
Range $10.39M – $12.70M · ±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
$146 / 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
$91,080
Tax year 2023
Assessed value
$4,725,000
Assessed 2023
Previous assessed
$4,700,000
+0.5% YoY
Effective rate
1.93%
On assessed value
Land market value
$196,642
Improvement market value
$4,528,358
Total market value
$4,725,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2019
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
7
Units
80
Bathrooms
120
Total area
79,314 SF
Lot
0.44 ac (19,341 SF)
APN
15-29-15-16830-002-0140
UPID
US18-4333524
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$15.9M
RETAIL STORES
Est. value
$16.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.0M
OFFICE BUILDING
Est. value
$13.5M
INDUSTRIAL (GENERAL)
Est. value
$13.1M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
2019
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
7
Units
80
Bathrooms
120
Lot
0.44 ac
Current owner
From public records · entity-resolved
Madison Point LLC
Entity
Mailing address
558 W NEW ENGLAND AVE STE #250, WINTER PARK, FL 32789-4254
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2020
—
Madison Point LLC
—
Deed
related
$1,950,000 · Wells Fargo Bk
Jun 5, 2018
$1,000,000
Madison Point LLC
Klaus A Keller Living Trust
Special Warranty Deed
$13,911,709 · Wells Fargo Bank NA
Dec 11, 2007
—
Keller Klaus A Living Trust
Owner,record
Grant Deed
related
—
Nov 8, 2006
—
Klaus A Keller
Keller,klaus A & Joan M
Quit Claim Deed
related
—
—
—
Madison Point LLC
—
Loan Modification
related
$1,950,000 · Wells Fargo Bk
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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