New search
Property profile & analytics
OFF-MARKET
Estimated value
$8,675,000
Medical Office Space
509 Armenia Ave Tampa, FL 33609-3395
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-1072558
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,939 SF
Lot
1.19 ac (51,840 SF)
Zoning code
PD
APN
A2229183O9000001000051
UPID
US18-1072558
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
-
Angeline Galiano Pediatrician Physician
-
Rodney Morillo Physician
-
Dr. Sayad Physician
-
Anant Manish Kharod Physician
-
Jennifer Lynn Usfh Fcs Cardio Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.54M
CAP Approach
CAP
$7.16M
Comparable Approach
Comparable
$5.90M
Blend (final)
Blend
$8.68M
Owner & transaction history
Tampa Fl I Dgh LLC · 2 yrs held
Tampa Fl I Dgh LLC
since 2023
Last sale
$10.4M
7 recorded transactions
Zoning & alternative use
PD · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$11.7M
+35.7%
Office building
$11.0M
+26.9%
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
$9,665,000
ML approach
$8,540,000
CAP Approach
CAP Return
Estimation
6%
$7,755,000
6.5%
$7,160,000
7%
$6,650,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,635,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,715,000
Change: +36% · Conversion: Moderate
OFFICE BUILDING
$10,955,000
Change: +27% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,310,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$7,090,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$8.68M
Range $7.81M – $9.54M · ±10% · vs last sale $10.40M (Oct 13 2023)
Last sale anchor
$10.40M
Oct 13 2023
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
$272 / 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
$112,867
Tax year 2023
Assessed value
$6,007,700
Assessed 2023
Previous assessed
$5,411,200
+11.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$2,777,763
Assessed improvement
$3,229,937
Land market value
$2,777,763
Improvement market value
$3,229,937
Total market value
$6,007,700
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
1
Total area
31,939 SF
Lot
1.19 ac (51,840 SF)
Zoning code
PD
APN
A2229183O9000001000051
UPID
US18-1072558
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
MEDICAL BUILDING Current
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.7M
OFFICE BUILDING
Est. value
$11.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.3M
RETAIL STORES
Est. value
$7.1M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Tampa Fl I Dgh LLC
Entity
Mailing address
1 N WACKER DR STE #4025, CHICAGO, IL 60606-2844
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2023
$10,400,000
Tampa Fl I Dgh LLC
Hhre Armenia LLC
Special Warranty Deed
—
Dec 31, 2020
$6,300,000
Hhre Armenia LLC
Paramount Land Holdings LLC
Grant Deed
—
Oct 13, 1999
$513,500
Sarkis Kanburyan
Construction Land Investments
Grant Deed
$411,000 · Southern Exchange Bank
—
—
Paramount Land Holdings LLC
—
Loan Modification
related
$7,611,594 · Bank Of Tampa
—
—
Construction Land Investments
—
Deed Of Trust
related
$200,000 · Bank Of Tampa
—
—
Florida Cardlovascular Inst La
—
Deed Of Trust
related
$300,000 · Bank Of Tampa
—
—
Paramount Land Holdings LLC
—
Deed Of Trust
related
$2,763,828 · Bank Of Tampa
—
—
Paramount Land Holdings INC
—
Deed Of Trust
related
$658,812 · Bank Of Tampa
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 509 Armenia 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.
