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Property profile & analytics
OFF-MARKET
Estimated value
$7,215,000
Apartment buildings
675 Indian Rocks N Rd, Belleair Bluffs, FL 33770-2082
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-2474860
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Construction
CONCRETE BLOCKS
Total area
55,678 SF
Lot
2.27 ac (98,968 SF)
APN
33-29-15-00000-220-0300
UPID
US18-2474860
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.21M
Blend (final)
Blend
$7.22M
Owner & transaction history
Palms Of Belleair Apartment Commu · 11 yrs held
Palms Of Belleair Apartment Commu
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$11.0M
+14.2%
Neighborhood: shopping center
$10.4M
+8.0%
Retail stores
$10.3M
+7.1%
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 Belleair Bluffs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleair Bluffs 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
APARTMENT HOUSE (5+ UNITS)
$9,650,000
Current use
INDUSTRIAL (GENERAL)
$11,020,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$10,420,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$10,340,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$10,140,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$7.22M
Range $6.49M – $7.94M · ±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
$130 / 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
$87,147
Tax year 2023
Assessed value
$4,650,000
Assessed 2023
Previous assessed
$4,650,000
+0.0% YoY
Effective rate
1.87%
On assessed value
Land market value
$1,363,399
Improvement market value
$3,286,601
Total market value
$4,650,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Units
64
Bathrooms
89
Total area
55,678 SF
Lot
2.27 ac (98,968 SF)
APN
33-29-15-00000-220-0300
UPID
US18-2474860
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.7M
INDUSTRIAL (GENERAL)
Est. value
$11.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.4M
RETAIL STORES
Est. value
$10.3M
OFFICE BUILDING
Est. value
$10.1M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
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
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
2
Units
64
Bathrooms
89
Lot
2.27 ac
Current owner
From public records · entity-resolved
Palms Of Belleair Apartment Commu
Individual
Mailing address
675 INDIAN ROCKS RD N, BELLEAIR BLUFFS, FL 33770-2082
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Jan 28, 2015
—
Palms Of Belleair Apartment Commu
Palms Of Belleair LLC
Quit Claim Deed
related
$5,100,000 · Jefferies Loancore
Jan 24, 2006
$5,120,000
Palms Of Belleair LLC
Whitehall Apartment Props LLC
Grant Deed
—
Sep 6, 2005
$13,450,000
Whitehall Apartment Properties LLC
Whitehall Enterprises INC
Special Warranty Deed
$11,694,545 · Wachovia Bank NA
—
—
Palms Of Belleair LLC
—
Deed Of Trust
related
$200,000 · Bank Of Florida Tampa Bay
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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