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Property profile & analytics
FOR LEASE
Office buildings
407 N Belcher Rd Clearwater, FL 33765
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US19-0316561
For Lease
1 / 3
$12 SF/Yr
407 N Belcher Rd, Clearwater, FL 33765
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
CONCRETE BLOCKS
Total area
9,145 SF
Lot
0.73 ac (31,794 SF)
APN
07-29-16-00000-330-1100
UPID
US19-0316561
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
-
My Pinellas County Physical Medicine Medical Clinic
-
Pizza Hut Take-out & Catering
-
Mark Purtee – Murphy Business Sales Business Broker
-
Mark Purtee at Murphy Business Sales Business Broker
-
Murphy Business & Financial Corporation Business Broker Appraiser
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.64M
Owner & transaction history
E & J Caputo Clearwater LLC · 19 yrs held
E & J Caputo Clearwater LLC
since 2007
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+9.9%
Warehouse, storage
$1.8M
+5.9%
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
OFFICE BUILDING
$1,730,000
Current use
RETAIL STORES
$1,900,000
Change: +10% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,830,000
Change: +6% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,610,000
Change: -7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,510,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$179 / 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
$20,224
Tax year 2023
Assessed value
$1,150,000
Assessed 2023
Previous assessed
$1,000,000
+15.0% YoY
Effective rate
1.76%
On assessed value
Land market value
$251,485
Improvement market value
$898,515
Total market value
$1,150,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
3
Total area
9,145 SF
Lot
0.73 ac (31,794 SF)
APN
07-29-16-00000-330-1100
UPID
US19-0316561
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
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
3
Lot
0.73 ac
Current owner
From public records · entity-resolved
E & J Caputo Clearwater LLC
Entity
Mailing address
PO BOX 1641, TARPON SPRINGS, FL 34688-1641
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2007
$1,325,000
E & J Caputo Clearwater LLC
Avee INC
Warranty Deed
—
Jul 29, 2005
$520,000
Avee INC
Valhalla Properties
Warranty Deed
$850,000 · Bank Of America
Jan 12, 2004
$520,000
Valhalla Properties
Clearwarer Chapter 45 Royal
Grant Deed
$300,000 · Bank Of Tampa
—
—
Valhalla Properties
—
Deed Of Trust
related
$880,000 · Bank Of America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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