Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,300,000
Distribution centers
505 Rome Ave Tampa, FL 33606-1250
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-0763637
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,873 SF
Lot
1.39 ac (60,652 SF)
Zoning code
PD
APN
A2329184Q7000010000090
UPID
US18-0763637
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
-
LIVE MARKETING Advertising Agency Marketing & Advertising
-
Silloet Financial Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.70M
Blend (final)
Blend
$3.30M
Owner & transaction history
Noho Flats Phase 2 LLC · 3 yrs held
Noho Flats Phase 2 LLC
since 2022
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
PD · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.2M
+27.9%
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 Tampa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tampa 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
$3,170,000
ML approach
$3,445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,055,000
Current use
AUTO REPAIR, GARAGE
$5,185,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±10% · vs last sale $3.10M (Aug 12 2022)
Last sale anchor
$3.10M
Aug 12 2022
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
$123 / 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
$39,920
Tax year 2023
Assessed value
$1,728,617
Assessed 2023
Previous assessed
$1,225,800
+41.0% YoY
Effective rate
2.31%
On assessed value
Assessed land
$901,228
Assessed improvement
$827,389
Land market value
$901,228
Improvement market value
$827,389
Total market value
$1,728,617
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Rooms
5
Total area
26,873 SF
Lot
1.39 ac (60,652 SF)
Zoning code
PD
APN
A2329184Q7000010000090
UPID
US18-0763637
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
PD · Tampa, FL
Zoning PD · permitted uses
PD · Tampa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tampa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$5.2M
WAREHOUSE, STORAGE 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
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Rooms
5
Lot
1.39 ac
Current owner
From public records · entity-resolved
Noho Flats Phase 2 LLC
Entity
Mailing address
2001 ROSS AVE STE #3400, DALLAS, TX 75201-2966
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2022
$3,100,000
Noho Flats Phase 2 LLC
Martin F Saavedra
Special Warranty Deed
—
Mar 7, 2012
—
Ricardo A Roig
Saavedra,martin & Janice
Grant Deed
—
Dec 28, 1999
$625,000
Martin Saavedra
Celeiro,armando P
Grant Deed
$595,000 · Southtrust Bank NA
—
—
Hillsborough,pin A-23-29 Trust
—
Deed Of Trust
related
$500,000 · Aegis Business Credit LLC
—
—
Martin Saavedra
—
Deed Of Trust
related
$1,800,000 · Regions Bank
—
—
Martin F Saavedra
—
Deed Of Trust
related
$87,300 · Taylor Bean & Whitaker Mtg
—
—
Martin Saavedra
—
Deed Of Trust
related
$1,050,000 · Cnl Commercial Finance INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 505 Rome Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
