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Property profile & analytics
OFF-MARKET
Estimated value
$3,770,000
Medical Office Space
507 Alexander St Plant City, FL 33563-7136
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3761911
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,653 SF
Lot
1.84 ac (80,082 SF)
Zoning code
PD
APN
P0529225A4000000000030
UPID
US18-3761911
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
-
WellMed at Plant City Medical Clinic
-
Dr. Brian Korte (Vic Dr.) Pediatrician Physician
-
Andrew John Saranko, MD Pediatrician Physician
-
Baskin Robert N MD Pediatrician Physician
-
Ford Mark D Do Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.94M
Blend (final)
Blend
$3.77M
Owner & transaction history
Exchangeright Net Leased Portfolio · 4 yrs held
Exchangeright Net Leased Portfolio
since 2021
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
PD · Plant City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of PD zone will be applied only upon specific petition by property owners proposing a unique type of planned development
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
10,817.01 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$5.5M
+42.5%
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 Plant City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Plant City 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
$3,770,000
ML approach
$3,660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$3.77M
Range $3.39M – $4.15M · ±10% · vs last sale $3.88M (Sep 3 2021)
Last sale anchor
$3.88M
Sep 3 2021
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
$241 / 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
$46,133
Tax year 2023
Assessed value
$2,614,200
Assessed 2023
Previous assessed
$2,459,500
+6.3% YoY
Effective rate
1.76%
On assessed value
Assessed land
$550,091
Assessed improvement
$2,064,109
Land market value
$550,091
Improvement market value
$2,064,109
Total market value
$2,614,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Rooms
13
Bathrooms
5
Total area
15,653 SF
Lot
1.84 ac (80,082 SF)
Zoning code
PD
APN
P0529225A4000000000030
UPID
US18-3761911
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
PD · Plant City, FLZoning PD · permitted uses
PD · Plant City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of PD zone will be applied only upon specific petition by property owners proposing a unique type of planned development
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
10,817.01 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Rooms
13
Bathrooms
5
Lot
1.84 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Ownership since
2021
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
Sep 3, 2021
$3,878,389
Exchangeright Net Leased Portfolio
Plant City Aligned Rei LP
Special Warranty Deed
$66,940,000 · Bank Of America NA
Aug 24, 2015
$1,300,000
Plant City Aligned Rei LP
Gutowski & Saranko INC
Grant Deed
$920,500 · Optum Bank INC
—
—
Gutowski & Saranko INC
—
Deed Of Trust
related
$300,000 · Sunshine State S & L Assn
—
—
Gutowski & Saranko INC
—
Deed Of Trust
related
$300,000 · Sunshine State S & L Assn
—
—
Gutowski & Saranko INC
—
Deed Of Trust
related
$75,980 · Sunshine State S & L Assn
—
—
Gutowski & Saranko INC
—
Deed Of Trust
related
$325,000 · Sunshine State S & L Assn
—
—
Gutowski & Saranko INC
—
Deed Of Trust
related
$82,500 · Sunshine State S & L Assn
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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