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Property profile & analytics
OFF-MARKET
Estimated value
$9,350,000
Hotels
6902 Hillsborough Ave Tampa, FL 33634-4946
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-5570679
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1999
Construction
WOOD
Total area
56,796 SF
Lot
2.82 ac (122,826 SF)
Zoning code
PD
APN
U012917ZZZ000000435100
UPID
US18-5570679
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
-
Tampa Bay Extended Stay Airport Hotel & Motel
-
Suburban Studios Airport Hotel & Motel Vacation Rental
-
Hotel tampa Hotel & Motel Bed & Breakfast
-
Tampaflhandyman.com Hardware & Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.06M
Blend (final)
Blend
$9.35M
Owner & transaction history
Milan Hotel Investment LLC · 2 yrs held
Milan Hotel Investment LLC
since 2024
Last sale
$9.4M
4 recorded transactions
Zoning & alternative use
PD · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$15.4M
+47.6%
Neighborhood: shopping center
$14.8M
+42.0%
Retail stores
$12.6M
+21.2%
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
$9,350,000
ML approach
$9,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$10,405,000
Current use
MEDICAL BUILDING
$15,355,000
Change: +48% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$14,775,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$12,610,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$12,450,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$11,290,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$9.35M
Range $8.42M – $10.29M · ±10% · vs last sale $9.35M (Mar 20 2024)
Last sale anchor
$9.35M
Mar 20 2024
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
$165 / 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
$57,126
Tax year 2023
Assessed value
$3,420,100
Assessed 2023
Previous assessed
$2,777,700
+23.1% YoY
Effective rate
1.67%
On assessed value
Assessed land
$1,605,795
Assessed improvement
$1,814,305
Land market value
$1,605,795
Improvement market value
$1,814,305
Total market value
$3,420,100
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
YES
Cooling
YES
Stories
3
Units
136
Rooms
136
Bathrooms
183
Total area
56,796 SF
Lot
2.82 ac (122,826 SF)
Zoning code
PD
APN
U012917ZZZ000000435100
UPID
US18-5570679
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
PD · Tampa, FL
Zoning PD · permitted uses
PD · 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
HOTEL/MOTEL Current
Est. value
$10.4M
MEDICAL BUILDING
Est. value
$15.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.8M
RETAIL STORES
Est. value
$12.6M
OFFICE BUILDING
Est. value
$12.5M
WAREHOUSE, STORAGE
Est. value
$11.3M
HOTEL/MOTEL Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1999
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Units
136
Rooms
136
Bathrooms
183
Lot
2.82 ac
Current owner
From public records · entity-resolved
Milan Hotel Investment LLC
Entity
Mailing address
6903 CONGRESS ST, NEW PORT RICHEY, FL 34653-2704
Ownership since
2024
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 20, 2024
$9,350,000
Milan Hotel Investment LLC
Hillsborough I LLC
Special Warranty Deed
$6,350,000 · Hillsborough Lending LLC
Aug 5, 2016
—
Hillsborough I LLC
—
Deed
related
$3,950,000 · Usameribank
—
—
Hillsborough I LLC
—
Deed Of Trust
related
$2,058,058 · Pnc Bank
—
—
Hillsborough I LLC
—
Deed Of Trust
related
$3,950,000 · Usameribank
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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