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Property profile & analytics
OFF-MARKET
Estimated value
$3,195,000
Office buildings
5461 Waters Ave Tampa, FL 33634-1233
Entity Owned
26-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-1899106
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,297 SF
Lot
1.77 ac (77,159 SF)
Zoning code
M
APN
U19281889R000000000080
UPID
US18-1899106
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
-
Keller Construction Company
-
Foresight Construction Group Construction Company
-
PCI Vetrix Production Facility
-
Bayshore Technologies (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.89M
Blend (final)
Blend
$3.20M
Owner & transaction history
Industrial LP First · 26 yrs held
Industrial LP First
since 2000
4 recorded transactions
Zoning & alternative use
M · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,830,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,690,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.20M
Range $2.88M – $3.51M · ±10%
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
$131 / 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
$40,802
Tax year 2023
Assessed value
$2,651,800
Assessed 2023
Previous assessed
$2,651,800
+0.0% YoY
Effective rate
1.54%
On assessed value
Assessed land
$567,875
Assessed improvement
$2,083,925
Land market value
$567,875
Improvement market value
$2,083,925
Total market value
$2,651,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
28
Bathrooms
11
Total area
24,297 SF
Lot
1.77 ac (77,159 SF)
Zoning code
M
APN
U19281889R000000000080
UPID
US18-1899106
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
M · Tampa, FL
Zoning M · permitted uses
M · 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
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.7M
WAREHOUSE, STORAGE
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
28
Bathrooms
11
Lot
1.77 ac
Current owner
From public records · entity-resolved
Industrial LP First
Entity
Free & Clear · 26 yrs held
Mailing address
116 CHESTNUT ST STE #102, RED BANK, NJ 07701-1271
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2020
—
Denholtz Tcw LLC
—
Deed
related
$18,600,000 · Citizens Bk NA
Jan 21, 2000
$5,293,400
Industrial LP First
First Industrial Dev Svcs LP
Grant Deed
related
—
Dec 15, 1997
$1,800,000
First Industrial Deve Svcs LP
Thompson Rubin Sunventure Ltd
Grant Deed
related
—
—
—
Denholtz Tcw LLC
—
Deed Of Trust
related
$18,600,000 · Citizens Bk NA
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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