38449 County Road 54 Zephyrhills, FL 33542
Retail space
Google Maps
Entity Owned
3-yr Hold
~
Est. High Equity
For Lease
1 / 14
$640,000
38449 County Road 54, Zephyrhills, FL 33542
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Estimated value (blended)
$640k
Range $576k – $704k (±10%)
Implied cap rate
7.60%
In-place · NOI ÷ last sale
Property ID
US18-4850749
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1974
Total area
7,688 SF
Lot
0.86 ac (37,500 SF)
Zoning code
00C2
APN
02-26-21-0010-06000-0021
UPID
US18-4850749
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$770k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$672k
Blend (final)
Blend
$640k
Owner & transaction history
since 2023
Last sale
$595,000
6 recorded transactions
Zoning & alternative use
00C2 · Zephyrhills, FL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$640k
Value range
$576k – $704k
±10% around blend
Estimated value / SF
$83 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
40
Income certainty
100
$576k
blend $640k
$704k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,688 SF
Lot area
0.86 ac
Year built
1974
Stories
1
APN
02-26-21-0010-06000-0021
Assessed value
$301,776
Annual tax
$6,978
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$6,978
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$976k
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
32.5 mi away · 8,288 SF
32.8 mi away · 8,164 SF
33.3 mi away · 7,626 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$640k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 25 sales
$162
-49%
Submarket 48 sales
$2,501
-97%
County 209 sales
$252
-67%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $83/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
7.60%
Selected cap rate for this retail space
Derived from the Zephyrhills market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.60%
9.0%
NOI (est.)
$32k *
Last sale · May 2023
$595k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$426k
Move the market yield to see immediate price impact.
Value / SF
$55
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.10%7.60%8.10%
$29k
$411k
$384k
$360k
$32k
$456k
$426k
$400k
$36k
$502k
$469k
$440k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$2.14M
27.4 mi · Aug 2025 · $235/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,978
Tax year 2023
Assessed value
$301,776
Assessed 2023
Previous assessed
$302,139
-0.1% YoY
Effective rate
2.31%
On assessed value
Assessed land
$69,900
Assessed improvement
$231,876
Land market value
$69,900
Improvement market value
$231,876
Total market value
$301,776
Applied tax rate
30.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1974
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Units
372
Bathrooms
4
Total area
7,688 SF
Lot
0.86 ac (37,500 SF)
Zoning code
00C2
APN
02-26-21-0010-06000-0021
UPID
US18-4850749
Jurisdiction
PASCO
Zoning & alternative use
00C2 · Zephyrhills, FLZoning 00C2 · permitted uses
00C2 · Zephyrhills, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
372
Bathrooms
4
Lot
0.86 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
00C2
Jurisdiction
Zephyrhills, FL
Recorded code
00C2
Ownership Intelligence
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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