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Property profile & analytics
OFF-MARKET
Estimated value
$26,365,000
Apartment buildings
880 Oleander S Way, South Pasadena, FL 33707-2164
Individually Owned
11-yr Hold
Free & Clear
Property ID
US18-3204630
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Construction
CONCRETE BLOCKS
Total area
148,745 SF
Lot
2.4 ac (104,627 SF)
APN
30-31-16-12186-000-0003
UPID
US18-3204630
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
$26.36M
Blend (final)
Blend
$26.37M
Owner & transaction history
Bay Pointe Tower Apartments Ll · 11 yrs held
Bay Pointe Tower Apartments Ll
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$35.9M
+4.9%
Office building
$35.5M
+3.6%
Retail stores
$35.1M
+2.6%
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 South Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Pasadena 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)
$34,215,000
Current use
WAREHOUSE, STORAGE
$35,875,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$35,450,000
Change: +4% · Conversion: Moderate
RETAIL STORES
$35,110,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$26.37M
Range $23.73M – $29.00M · ±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
$177 / 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
$249,143
Tax year 2023
Assessed value
$13,500,000
Assessed 2023
Previous assessed
$13,500,000
+0.0% YoY
Effective rate
1.85%
On assessed value
Land market value
$1,207,941
Improvement market value
$12,292,059
Total market value
$13,500,000
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
17
Units
210
Bathrooms
213
Total area
148,745 SF
Lot
2.4 ac (104,627 SF)
APN
30-31-16-12186-000-0003
UPID
US18-3204630
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
$34.2M
WAREHOUSE, STORAGE
Est. value
$35.9M
OFFICE BUILDING
Est. value
$35.5M
RETAIL STORES
Est. value
$35.1M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
17
Units
210
Bathrooms
213
Lot
2.4 ac
Current owner
From public records · entity-resolved
Bay Pointe Tower Apartments Ll
Individual
Free & Clear · 11 yrs held
Mailing address
300 1ST AVE STE #202, NEEDHAM HEIGHTS, MA 02494-2738
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2016
—
Bay Pointe Tower Apartments Ll
—
Deed
related
$10,760,000 · Berkadia Com'l Mtg
Nov 20, 2014
$8,750,000
Bay Pointe Tower Apartments Ll
Serenity At St Petersburg LLC
Grant Deed
—
Mar 23, 2009
$1,615,600
Serenity At St Petersburg LLC
Bethany Housing INC
Warranty Deed
$3,200,000 · Glenda G Morgan Charitable Fou
—
—
Bay Pointe Tower Apartments Ll
—
Loan Modification
related
$10,760,000 · Berkadia Com'l Mtg
—
—
Serenity At St Petersburg LLC
—
Deed Of Trust
related
$5,500,000 · Berkadia Commercial Mortgage
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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