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Property profile & analytics
OFF-MARKET
Estimated value
$1,690,000
Turn key restaurants
608 Ocean Shr Blvd Flagler Beach, FL 32136-3667
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US19-0749974
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,079 SF
Lot
0.23 ac (10,019 SF)
Zoning code
GC
APN
12-12-31-4500-00130-0090
UPID
US19-0749974
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.69M
Owner & transaction history
Tig Flagler LLC · 5 yrs held
Tig Flagler LLC
since 2021
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
GC · Flagler Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The provisions of this district are intended to serve the general commercial needs of the city, wherein a large variety of retail, commercial, governmental, financial, professional office services and other general commercial are permitted
Zone name
General Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
78.61 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.1M
+56.4%
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 Flagler Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flagler Beach 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
$1,545,000
ML approach
$1,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,100,000
Change: +56% · Conversion: Easy
Blend value · Realmo final
$1.69M
Range $1.52M – $1.86M · ±10% · vs last sale $1.80M (Apr 1 2021)
Last sale anchor
$1.80M
Apr 1 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
$813 / 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
$17,074
Tax year 2023
Assessed value
$918,743
Assessed 2023
Previous assessed
$845,822
+8.6% YoY
Effective rate
1.86%
On assessed value
Assessed land
$610,366
Assessed improvement
$308,377
Land market value
$610,366
Improvement market value
$308,377
Total market value
$918,743
Applied tax rate
22.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
2,079 SF
Lot
0.23 ac (10,019 SF)
Zoning code
GC
APN
12-12-31-4500-00130-0090
UPID
US19-0749974
Jurisdiction
FLAGLER
Zoning & alternative use
GC · Flagler Beach, FLZoning GC · permitted uses
GC · Flagler Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The provisions of this district are intended to serve the general commercial needs of the city, wherein a large variety of retail, commercial, governmental, financial, professional office services and other general commercial are permitted
Zone name
General Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
78.61 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.1M
COMMERCIAL (GENERAL)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Tig Flagler LLC
Entity
Mailing address
608 S OCEAN SHR BLVD, FLAGLER BEACH, FL 32136-3667
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2024
—
Tig Flagler LLC
—
Deed
related
$250,000 · United States Small Business Admin
Apr 1, 2021
$1,800,000
Tig Flagler LLC
Burrito Works INC
Warranty Deed
$1,000,000 · Intracoastal Bank
Mar 31, 2021
—
Tig Flagler LLC
—
Deed
related
$800,000 · Intracoastal Bank
Aug 6, 2010
$447,000
A1a Burrito Works INC
Terratran Six LLC
Warranty Deed
$250,000 · Intracoastal Bank
Jun 6, 2005
$1,265,500
Terratran Six LLC
Michael Clements
Warranty Deed
$949,125 · Wachovia Bank NA
—
—
A1a Burrito Works INC
—
Deed Of Trust
related
$377,572 · Intracoastal Bank
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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