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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    507 Alexander St Plant City, FL 33563-7136

    • Medical offices
    • 15,653 SF
    • 1.84 lot acres
    OFF-MARKET
    Last Sale
    Sep 03, 2021
    $3,878,389
    Value Estimations
    $3,810,000
    Show details
    Cap Rate Potential
    3.8%
    Medical offices
    Location Intelligence
    Property ID
    US18-3761911
    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.

    Current Use by Public Records

    • WellMed at Plant City / Medical Clinic
    • Dr. Brian Korte (Vic Dr.) / Family Practice Physician
    • Andrew John Saranko, MD / Family Practice Physician
    • Baskin Robert N MD / Family Practice Physician
    • Ford Mark D Do / Family Practice Physician

    Property Details for 507 Alexander St

    Year built
    1998
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.84 lot acres
    Property size
    15,653 SF
    Zone code
    PD
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    P0529225A4000000000030
    APU
    P0529225A4000000000030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,770,000
      ML approach
      $3,660,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,936,000
      Market price range: $2.58M - $5.25M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,875,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $5,525,000
      Change: +42% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $3,820,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.1283
    Latitude
    27.9884
    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
    $46,133
    $550,091
    $2,064,109
    $2,614,200
    -
    $550,091
    $2,064,109
    $2,614,200

    Comparable in this City

    • Value Estimation
      $430,000
      3,096 SF

      601 Mobley St

      MEDICAL BUILDING • 3,096 SF
      601 Mobley St, Plant City, FL 33563-2924
      View Details
    • Value Estimation
      $760,000
      3,462 SF

      704 Alexander St

      MEDICAL BUILDING • 3,462 SF
      704 Alexander St, Plant City, FL 33563-3064
      View Details
    • Value Estimation
      $350,000
      3,330 SF

      413 Alexander St

      MEDICAL BUILDING • 3,330 SF
      413 Alexander St, Plant City, FL 33563-4305
      View Details
    • Value Estimation
      $430,000
      3,692 SF

      3302 Baker St

      MEDICAL BUILDING • 3,692 SF
      3302 Baker St, Plant City, FL 33563-2851
      View Details
    • Value Estimation
      $250,000
      3,500 SF

      406 Plant Ave

      MEDICAL BUILDING • 3,500 SF
      406 Plant Ave, Plant City, FL 33563-7248
      View Details
    • Value Estimation
      $310,000
      2,025 SF

      1509 Reynolds St

      MEDICAL BUILDING • 2,025 SF
      1509 Reynolds St, Plant City, FL 33563-4733
      View Details

    Similar Nearby for Sale

    • $445,000
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      Plant City Commercial Office Opportunity

      Professional office space with income potential in Plant City, FL.
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    • $379,900
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      Office property near hospital with future commercial development potential.
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    • $750,000
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      Plant City Commercial Land - 1.6 Acres

      Prime Commercial Lot, High-Traffic Area, I-4 Proximity
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      Cleared lot near downtown Plant City with development potential.
      308 E Damon St, Plant City, FL 33563
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    • $299,900
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      Plant City Commercial Opportunity

      Versatile commercial property on 1.14 acres in Plant City.
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    • $1,250,000

      9.5 Acres on Alexander Street

      9.5-acre parcel near I-4, suitable for various developments.
      1205-1209 W Alexander St, Plant City, FL 33563
      View Details

    Similar Nearby for Lease

    • $103,500

      Turnkey Medical Space Available

      Shared medical space near hospital with multiple rooms and amenities.
      702 N Alexander St, Plant City, FL 33563
      View Details
    • $22 SF/Yr
      17,161 SF

      Charming Office Space in Plant

      Premier location with old Florida charm and ample parking.
      1001 E Baker St, Plant City, FL 33563
      View Details
    • $23 SF/Yr
      1,591 SF

      Office Space Near Hospital

      Office space for rent across from the hospital.
      1601 W Reynolds St, Plant City, FL 33563
      View Details
    • $19 SF/Yr
      544 SF

      Downtown Plant City Office Space

      Office space in downtown Plant City surrounded by businesses.
      102-115 S Evers St, Plant City, FL 33563
      View Details
    • $8,100 /Mo

      Plant City Office Space Available

      200 SF office space in Plant City for rent.
      106 N Evers St, Plant City, FL 33563
      View Details
    • $19 SF/Yr
      3,528 SF

      Prime Commercial Property in Plant City

      MIX-zoned commercial property near downtown Plant City with high visibility.
      625 S Collins St, Plant City, FL 33563
      View Details
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    507 Alexander St
    Plant City, FL 33563-7136
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    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
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