Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    506 1st SW Ave Largo, FL 33770-3408
    Back to Search
    Property profile & analytics

    506 1st SW Ave, Largo, FL 33770-3408

    View on Map
    • Investment properties
    • 1,264 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Apr 1, 2022
    $450,000
    Property ID
    US18-2951512
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 506 1st SW Ave

    Year built
    1915
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    34-29-15-93330-002-0090
    APU
    342915933300020090

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2022 $450,000 Anchorage Of Indian Shores LLC Karen Froberg Cornett Warranty Deed $315k · Karen Froberg Cornett
    — — Karen Cornett — Deed Of Trust · related $61k · First Union National Bank
    — — Karen Froberg — Deed Of Trust · related $36k · Individual
    — — Karen F Cornett — Deed Of Trust · related $98k · Wachovia Bank NA
    — — Karen Cornett — Deed Of Trust · related $61k · First Union Nat'l Bank Florida

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7934
    Latitude
    27.9163
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,186
    $0.00
    $0.00
    $380,000
    -
    $223,917
    $156,083
    $380,000

    Comparable in this City

    • Value Estimation
      $635,000
      1,392 SF

      2617 Jewel Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      2617 Jewel Rd, Belleair Bluffs, FL 33770-1712
      View Details
    • Value Estimation
      $805,000
      2,544 SF

      119 Cleveland Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      119 Cleveland Ave, Largo, FL 33770-3649
      View Details
    • Value Estimation by Request
      1,781 SF

      1370 Clearwater Largo N Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1370 Clearwater Largo N Rd, Largo, FL 33770-1172
      View Details
    • Value Estimation by Request
      1,200 SF

      1212 Clearwater Largo N Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1212 Clearwater Largo N Rd, Largo, FL 33770-1134
      View Details
    • Value Estimation by Request
      1,875 SF

      714 1st SW Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      714 1st SW Ave, Largo, FL 33770-3410
      View Details
    • Value Estimation
      $685,000
      3,384 SF

      720 9th SW Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      720 9th SW Ave, Largo, FL 33770-4478
      View Details

    Similar Nearby for Sale

    • $3,200,000

      Retail Asset with Redevelopment Potential

      Stabilized retail asset in Downtown Largo with mixed-use redevelopment potential.
      351 W Bay Dr, Largo, FL 33770
      View Details
    • $799,900
      1.00 Acre

      Residential Development Opportunity Near Taylor Park

      Land suitable for residential development near Largo's Taylor Park.
      1200 8Th Ave SW, Largo, FL 33770
      View Details
    • $475,000
      Pending

      Well-Maintained Triplex Near Gulf Beaches

      Triplex near amenities with updated units and strong income.
      522 Rosery Rd NW, Largo, FL 33770
      View Details
    • $900,000

      Multifamily Property with Rental Income

      Five units with long-term and mid-term rental income potential.
      115 Cleveland Ave, Largo, FL 33770
      View Details
    • $1,300,000

      Largo Multifamily Investment Opportunity

      Turnkey multifamily property with five units in downtown Largo.
      518 6Th Ave SW, Largo, FL 33770
      View Details
    • Contact for pricing
      4,040 SF

      Belleair Bluffs Leased Commercial Building

      Commercial building with three leased units in Belleair Bluffs.
      420 Indian Rocks Rd N, Belleair Bluffs, FL 33770
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      4,356 SF

      Restaurant Space in Downtown Largo

      Restaurant space for rent in upcoming downtown Largo, Florida.
      101 Clearwater-Largo Rd, Largo, FL 33770
      View Details
    • Contact for pricing

      Belleair Bluffs Freestanding Building

      Prominent building suitable for office or medical use.
      575 Indian Rocks Rd N, Belleair Bluffs, FL 33770
      View Details
    • Contact for pricing

      Largo Flexible Mixed-Use Storage Units

      Flexible storage units for lease in the heart of Largo.
      300 12Th St SW, Largo, FL 33770
      View Details
    • Contact for pricing
      2,597 SF

      Retail Space on Missouri Avenue

      Retail space with high visibility and ample parking.
      615-621 Missouri Ave N, Largo, FL 33770
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on Missouri Avenue

      Retail space with excellent visibility and frontage on Missouri Avenue.
      1300-1460 Missouri Ave N, Largo, FL 33770
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    506 1st SW Ave
    Largo, FL 33770-3408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    506 1st SW Ave, Largo, FL, 33770
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!