Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    603 Virginia St Dunedin, FL 34698-6613
    Back to Search
    Property profile & analytics

    603 Virginia St, Dunedin, FL 34698-6613

    View on Map
    • Assisted living facilities
    • 20,470 SF
    • 1.75 lot acres
    Off-Market
    Property ID
    US18-4153733
    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
    $8,125,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mease Life Memory Care / Nursing Home / Retirement Community

    Property Details for 603 Virginia St

    Year built
    2016
    Construction
    CONCRETE BLOCKS
    Lot size
    1.75 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    34-28-15-33984-014-0010
    APU
    342815339840140010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 28, 2021 — Mease Life INC — Deed · related $21M · Umb Bank NA
    Nov 27, 2019 — Mease Manor INC — Deed · related $1.3M · Suntrust Bank
    Oct 2, 2013 $125,000 Mease Manor INC Laursen,james L Warranty Deed —
    Dec 21, 2006 — Joyce Timmer Vest,maggie L Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,127,000
      Market price range: $3.60M - $8.13M
      AI Estimate
      $8,127,000
      Market price range: $3.60M - $8.13M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $5,670,000
      Current use
      COMMERCIAL (GENERAL)
      $12,760,000
      Change: +125% Conversion: Difficult
      RESTAURANT
      $11,595,000
      Change: +105% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $8,475,000
      Change: +50% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,510,000
      Change: +32% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,680,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dunedin
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7827
    Latitude
    28.012
    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
    $0.00
    $0.00
    $0.00
    $4,799,000
    -
    $2,405,308
    $2,393,692
    $4,799,000

    Comparable in this City

    • Value Estimation by Request
      312,155 SF

      700 Mease Plz

      HOMES (RETIRED, NURSING)
      700 Mease Plz, Dunedin, FL 34698-6680
      View Details
    • Value Estimation
      $4,935,000
      12,430 SF

      3175 Belcher Rd

      HOMES (RETIRED, NURSING)
      3175 Belcher Rd, Dunedin, FL 34698-9400
      View Details
    • Value Estimation
      $5,715,000
      30,584 SF

      1351 San Christopher Dr

      HOMES (RETIRED, NURSING)
      1351 San Christopher Dr, Dunedin, FL 34698-5402
      View Details
    • Value Estimation
      $1,020,000
      2,610 SF

      3240 County Rd 1st 1

      HOMES (RETIRED, NURSING)
      3240 County Rd 1st 1, Dunedin, FL 34698-9208
      View Details
    • Value Estimation
      $9,100,000
      51,815 SF

      870 Patricia Ave

      HOMES (RETIRED, NURSING)
      870 Patricia Ave, Dunedin, FL 34698-6022
      View Details
    • Value Estimation
      $1,200,000
      4,126 SF

      725 Edgewater Dr

      HOMES (RETIRED, NURSING)
      725 Edgewater Dr, Dunedin, FL 34698-6947
      View Details

    Similar Nearby for Sale

    • $3,625,000
      4,236 SF

      Downtown Dunedin Commercial Opportunity

      Two-story building in downtown Dunedin near shops and restaurants.
      220 Scotland St, Dunedin, FL 34698
      View Details
    • $155,000

      Dunedin 55+ Community Residence

      Charming 2BR/2BA in desirable Dunedin 55+ community.
      200 Glennes Ln, Dunedin, FL 34698
      View Details
    • Contact for pricing
      1,004 SF

      Dunedin Condo in 55+ Community

      Cozy condo in vibrant 55+ community near downtown Dunedin.
      820 Virginia St, Dunedin, FL 34698
      View Details
    • Contact for pricing
      4,236 SF

      Dunedin Downtown Core Opportunity

      Two-story building in downtown Dunedin near shops and restaurants.
      220 Scotland St, Dunedin, FL 34698
      View Details
    • $1,975,000
      0.32 Acres

      Waterfront Land in Coastal Dunedin

      Premier waterfront homesite to build your dream home.
      1614 Santa Barbara Dr, Dunedin, FL 34698
      View Details

    Similar Nearby for Lease

    • $120,000
      4,680 SF

      Dunedin Commercial Space For Lease

      Two-story commercial building in downtown Dunedin, suitable for various uses.
      220 Scotland St, Dunedin, FL 34698
      View Details
    • $120,000

      Downtown Dunedin Multi-Use Building

      Two-story building in downtown Dunedin, suitable for various uses.
      220 Scotland St, Dunedin, FL 34698
      View Details
    • Contact for pricing

      Dunedin Standalone Building For Lease

      6,152 sqft standalone building on busy Bayshore Blvd in Dunedin.
      2046 Bayshore Blvd, Dunedin, FL 34698
      View Details
    • Contact for pricing

      Dunedin Office Spaces Available

      Office spaces available for lease in Dunedin, Florida.
      201 Douglas Ave, Dunedin, FL 34698
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Dunedin, Florida.
      1681 Main St, Dunedin, FL 34698
      View Details
    • Contact for pricing
      4,090 SF

      Dunedin Retail Space Available

      Retail space available for lease in Dunedin, Florida.
      912-956 Patricia Ave, Dunedin, FL 34698
      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.
    603 Virginia St
    Dunedin, FL 34698-6613
    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
    603 Virginia St, Dunedin, FL, 34698
    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!