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Property profile & analytics
OFF-MARKET
Estimated value
$4,375,000
Retail space
605 Pinellas Ave, Tarpon Springs, FL 34689-3707
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-5383188
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
CONCRETE BLOCKS
Total area
14,440 SF
Lot
1.71 ac (74,461 SF)
APN
13-27-15-89946-003-0090
UPID
US18-5383188
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
-
Walgreens Pharmacy Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy
-
TD Bank ATM Atm
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.87M
Blend (final)
Blend
$4.38M
Owner & transaction history
Walgreen Co · 4 yrs held
Walgreen Co
since 2021
Last sale
$4.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.0M
+102.5%
Neighborhood: shopping center
$4.0M
+35.8%
Office building
$3.4M
+13.6%
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 Tarpon Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tarpon Springs 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
$4,960,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,955,000
Current use
AUTO REPAIR, GARAGE
$5,980,000
Change: +103% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,010,000
Change: +36% · Conversion: Moderate
OFFICE BUILDING
$3,355,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$3,175,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$4.38M
Range $3.94M – $4.81M · ±10% · vs last sale $4.83M (Sep 15 2021)
Last sale anchor
$4.83M
Sep 15 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
$303 / 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
$53,188
Tax year 2023
Assessed value
$2,835,000
Assessed 2023
Previous assessed
$2,805,000
+1.1% YoY
Effective rate
1.88%
On assessed value
Land market value
$729,892
Improvement market value
$2,105,108
Total market value
$2,835,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
3
Total area
14,440 SF
Lot
1.71 ac (74,461 SF)
APN
13-27-15-89946-003-0090
UPID
US18-5383188
Jurisdiction
PINELLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$3.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2001
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.71 ac
Current owner
From public records · entity-resolved
Walgreen Co
Entity
Free & Clear · 4 yrs held
Mailing address
30 N LA SALLE ST STE #4140, CHICAGO, IL 60602-2900
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2021
—
Walgreen Co
Project Saturn Nlp LLC
Lease
—
Sep 15, 2021
$4,830,000
Project Saturn Nh LLC
Walgreen Co
Special Warranty Deed
—
Apr 9, 1998
$40,000
Jkl Services INC
Tsounakos,stamatios & Anna
Grant Deed
$30,000 · Seller
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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