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    Property profile & analytics

    916 46Th St Sarasota, FL 34234

    • Multifamily properties
    • 1,520 SF
    • 0.29 lot acres
    For Sale
    View listing
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3134785
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Multifamily properties

    Property Details for 916 46Th St

    Year built
    1953
    Lot size
    0.29 lot acres
    Property size
    1,520 SF
    Property type
    Multifamily properties

    Description

    This exceptional investment opportunity presents a unique chance to acquire a multi-family property located at 916 46th Street, Sarasota, Florida. The property encompasses 1,520 square feet and sits on a 0.29-acre lot. This offering includes the potential for a bulk purchase, encompassing this property and the adjacent property at 4500 N Tamiami Trail. This combined acquisition presents a compelling land consideration for a commercial development project. The current zoning allows for a high density of 135 units per acre, offering significant potential for increased returns. The existing structure at 916 46th Street is a multi-family building, providing immediate income potential or the opportunity for redevelopment. The combined acreage of both properties offers a substantial footprint for a larger-scale commercial venture. This is an ideal opportunity for investors seeking to capitalize on the strong Sarasota real estate market and the potential for significant density increases. The property's location in Sarasota offers convenient access to local amenities, transportation routes, and a thriving business environment. Serious inquiries are encouraged to explore the full potential of this unique investment opportunity. The asking price for this property is $1,200,000. Further details regarding the bulk sale and potential development plans are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.55279
    Latitude
    27.37335

    Comparable in this City

    • $1,200,000
      2,100 SF

      Sarasota Multi-Family Investment Opportunity

      High-density potential, three-building package.
      960 46Th St, Sarasota, FL 34234
      View Details
    • $65,000
      0.10 Acres

      Land in 55+ Community

      Land for mobile home in Sarasota 55+ community.
      1849 Brook Field Ter, Sarasota, FL 34234
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    • $40,000
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      Sarasota Land in 55+ Community

      Land in Tri Par Estates, a vibrant 55+ community.
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    • $2,995,000
      1.07 Acres

      Sarasota Development Opportunity Zone Land

      Approved site plans for 33-unit apartment/condo project near downtown.
      1800 N Tamiami Trl, Sarasota, FL 34234
      View Details
    • $3,850,000
      13,942 SF

      Sarasota Mixed-Use Opportunity

      Prime Tamiami Trail location, 13,942 SF building, 2+ acres
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • $3,600,000

      Sarasota Development Land

      36-Unit Apartment Project, Permits Pending
      1715 Tamiami Trl, Sarasota, FL 34234
      View Details

    Similar Nearby for Sale

    • $1,200,000
      2,100 SF

      Sarasota Multi-Family Investment Opportunity

      High-density potential, three-building package.
      960 46Th St, Sarasota, FL 34234
      View Details
    • $65,000
      0.10 Acres

      Land in 55+ Community

      Land for mobile home in Sarasota 55+ community.
      1849 Brook Field Ter, Sarasota, FL 34234
      View Details
    • $40,000
      0.08 Acres

      Sarasota Land in 55+ Community

      Land in Tri Par Estates, a vibrant 55+ community.
      4812 Boca Raton Ave, Sarasota, FL 34234
      View Details
    • $2,995,000
      1.07 Acres

      Sarasota Development Opportunity Zone Land

      Approved site plans for 33-unit apartment/condo project near downtown.
      1800 N Tamiami Trl, Sarasota, FL 34234
      View Details
    • $3,850,000
      13,942 SF

      Sarasota Mixed-Use Opportunity

      Prime Tamiami Trail location, 13,942 SF building, 2+ acres
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • $3,600,000

      Sarasota Development Land

      36-Unit Apartment Project, Permits Pending
      1715 Tamiami Trl, Sarasota, FL 34234
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      600 SF

      Business Plaza Flex Space Available

      600 sq ft Flex Space in Sarasota
      3080 Washington Blvd, Sarasota, FL 34234
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    • $26 SF/Yr
      6,689 SF

      Downtown Sarasota Office Space

      Prime location, high visibility, 6,689 sq ft.
      244 Washington Blvd, Sarasota, FL 34234
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    • $22 SF/Yr
      4,000 SF

      Retail Space on Washington Blvd

      Retail space with high exposure and customizable layout available for lease.
      4054 N Washington Blvd, Sarasota, FL 34234
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    • $18 SF/Yr
      3,300 SF

      New Flex Space Available

      New construction flex space available November 1, 2025.
      Independence Blvd, Sarasota, FL 34234
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    • $14 SF/Yr
      38,750 SF

      Sarasota Industrial Facility

      38,750 SF Manufacturing Space Available
      4700 Middle Ave, Sarasota, FL 34234
      View Details
    • $1,200,000
      3,000 SF

      Restaurant Space on Tamiami Trail

      Restaurant property for lease on a high-traffic corner lot.
      4195 N Tamiami Trl, Sarasota, FL 34234
      View Details
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    916 46Th St
    Sarasota, FL 34234
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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