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Property profile & analytics
OFF-MARKET
Estimated value
$2,333,955,000
Hotels
500 Mandalay Ave Clearwater, FL 33767-1738
Individually Owned
1-yr Hold
Property ID
US18-0895803
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2007
Construction
CONCRETE BLOCKS
Total area
180,239 SF
Lot
3.38 ac (147,224 SF)
APN
08-29-15-78657-001-0010
UPID
US18-0895803
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
-
Sandpearl Resort Hotel & Motel Resort
-
Caretta on the Gulf Restaurant
-
Tate Island Grill Restaurant
-
Opal Spa - Sandpearl Resort Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.33B
Blend (final)
Blend
$2.33B
Owner & transaction history
Georgia Dimitras · 1 yrs held
Georgia Dimitras
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3,381.9M
+1.1%
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
HOTEL/MOTEL
$3,346,740,000
Current use
COMMERCIAL (GENERAL)
$3,381,900,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.33B
Range $2.10B – $2.57B · ±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
$12,949 / 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
$1,307,504
Tax year 2023
Assessed value
$77,500,000
Assessed 2023
Previous assessed
$74,200,000
+4.4% YoY
Effective rate
1.69%
On assessed value
Land market value
$19,505,085
Improvement market value
$57,994,915
Total market value
$77,500,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2007
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
6
Units
194
Bathrooms
223
Total area
180,239 SF
Lot
3.38 ac (147,224 SF)
APN
08-29-15-78657-001-0010
UPID
US18-0895803
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
HOTEL/MOTEL Current
Est. value
$3,346.7M
COMMERCIAL (GENERAL)
Est. value
$3,381.9M
HOTEL/MOTEL Current
COMMERCIAL (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
2007
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
6
Buildings
3
Units
194
Bathrooms
223
Lot
3.38 ac
Current owner
From public records · entity-resolved
Georgia Dimitras
Individual
Mailing address
1000 MARKET ST UNIT #1, PORTSMOUTH, NH 03801-3358
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2025
—
The Sandpearl Resort LLC
—
Deed
related
$46,085,000 · Bank Of America NA
Apr 22, 2025
—
Georgia Dimitras
Charles Silkett
Deed
—
Apr 4, 2025
$1,300,000
Sunset Acquisitions Corporation
Richard W Mastry
Warranty Deed
—
Oct 30, 2024
—
Chelonia Beach LLC
Stanley Machining And Tool Corp
Deed
related
—
Apr 2, 2024
—
Nhan Huu Le Danh
Dai Nguyen Vu Vien
Deed
related
—
Sep 7, 2023
$1,437,000
Conclear LLC
David Buglione
Warranty Deed
—
Dec 8, 2022
$1,250,000
Conclear LLC
Sova Properties LLC
Warranty Deed
—
Nov 4, 2022
—
Brian Ormond
—
Deed
related
$945,000 · Waterfall Bank
Oct 19, 2022
—
New Know Consulting LLC
Gustavo Enrique Reyes Reverol
Quitclaim Deed
related
—
Jun 21, 2022
$1,500,000
Conclear LLC
Theodore P Karounos
Warranty Deed
—
Feb 1, 2022
$1,650,000
Conclear LLC
Clgs LLC
Warranty Deed
—
Apr 6, 2021
—
Michael Edward Shahbazian
Michael E Shahbazian
Deed
related
—
Jan 26, 2021
$150,000
Thomas J Burkett
Scott Roix
Quitclaim Deed
related
—
Mar 20, 2019
$1,500,000
Conclear LLC
Egan,john M
Warranty Deed
—
Mar 27, 2018
$710,000
Conclear LLC
Mesamya LLC
Grant Deed
—
Mar 27, 2018
$751,000
Conclear LLC
848 Sandpearl LLC
Warranty Deed
—
Oct 21, 2016
—
Garel 5 Recreation Property Trust
Rutland Recreation Pro Trust
Warranty Deed
—
Sep 13, 2016
$364,500
David Buglione
Buglione,philip & Karen
Quitclaim Deed
related
—
Mar 4, 2015
—
Roger S Golomb
Golomb,roger S
Quit Claim Deed
related
—
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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