Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1040 University Pkwy Sarasota, FL 34234-2853
    Back to Search
    Property profile & analytics

    1040 University Pkwy, Sarasota, FL 34234-2853

    View on Map
    • Hotels
    • 48,993 SF
    • 2.49 lot acres
    Off-Market
    Property ID
    US18-2510658
    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.
    Value Estimations
    $12,400,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residence Inn Sarasota Bradenton / Hotel & Motel
    • 1040 University Pkwy Parking / Parking Lot & Garage

    Property Details for 1040 University Pkwy

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.49 lot acres
    Zone code
    CP
    Property type
    Hotels
    Property subtype
    Motels
    APN
    2001-01-0004
    APU
    2001010004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 12, 2015 $12,345,800 Arc Hospitality Portfolio I Owner L W2007 Equity Inns Realty LLC Special Warranty Deed —
    Nov 27, 2007 — W2007 Equity Inns Realty LLC W2007 Equity Inns Ptshp Quit Claim Deed —
    Jun 16, 2005 $507,400 Equity Inns Ptshp Mckibbon Brothers INC Grant Deed · related —
    Apr 28, 1997 $917,100 Mckibbon Brothers INC R S M Land Company INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $13,623,000
      Market price range: $13.6M - $34.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5495
    Latitude
    27.3813
    CBSA code
    35840
    CBSA name
    NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $122,360
    $1,950,000
    $5,743,400
    $7,693,400
    -
    $1,950,000
    $5,743,400
    $7,693,400

    Comparable in this City

    • Value Estimation
      $2,365,000
      5,120 SF

      4108 Tamiami Trl

      HOTEL/MOTEL
      4108 Tamiami Trl, Sarasota, FL 34234-4318
      View Details
    • Value Estimation
      $11,690,000
      46,413 SF

      850 University Pkwy

      HOTEL/MOTEL
      850 University Pkwy, Sarasota, FL 34234-2813
      View Details
    • Value Estimation
      $2,640,000
      10,263 SF

      4703 Tamiami Trl

      HOTEL/MOTEL
      4703 Tamiami Trl, Sarasota, FL 34234-3869
      View Details
    • Value Estimation
      $7,220,000
      28,321 SF

      4800 Tamiami Trl

      HOTEL/MOTEL
      4800 Tamiami Trl, Sarasota, FL 34234-3842
      View Details
    • Value Estimation
      $17,740,000
      70,168 SF

      950 University Pkwy

      HOTEL/MOTEL
      950 University Pkwy, Sarasota, FL 34234-2848
      View Details
    • Value Estimation
      $2,495,000
      9,511 SF

      4309 Tamiami Trl

      HOTEL/MOTEL
      4309 Tamiami Trl, Sarasota, FL 34234-3861
      View Details

    Similar Nearby for Sale

    • $115,000
      0.11 Acres

      Sarasota Land Investment Opportunity

      Vacant RMF-1 parcel near downtown Sarasota.
      17Th Street Cir, Sarasota, FL 34234
      View Details
    • Contact for pricing
      1,272 SF

      Single-Family Home with Business Potential

      Remodeled home with flexible zoning and potential for business use.
      4010 N Lockwood Ridge Rd, Sarasota, FL 34234
      View Details
    • $250,000

      Vacant Land Multifamily Development Opportunity

      0.66-acre RMF-2 zoned parcel ideal for multifamily development.
      905 Royal Palm Dr, Sarasota, FL 34234
      View Details
    • Contact for pricing
      Pending

      Industrial Building with Ample Storage

      6000+ SF industrial building on corner lot with storage.
      1901 17Th Street Cir, Sarasota, FL 34234
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      Pending

      Versatile Industrial Condo Unit

      Industrial condo with workspace, storage, offices, and convenient location.
      2100 51St St, Sarasota, FL 34234
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Office and Warehouse Space

      Climate-controlled office and warehouse with direct US-301 access.
      2075 47Th St, Sarasota, FL 34234
      View Details
    • Contact for pricing

      Sarasota Warehouse For Lease

      Warehouse for lease in a desirable Sarasota industrial park.
      2383 Industrial Blvd, Sarasota, FL 34234
      View Details
    • $2,300,000

      Flex and Warehouse Facilities

      Two flex and warehouse facilities offered for rent on Leonard Reid Ave in Sarasota.
      2752-2744 Leonard Reid Ave, Sarasota, FL 34234
      View Details
    • $1,375,000

      Industrial Warehouse for Lease

      Industrial warehouse space available for lease at 4376 Independence Ct in Sarasota.
      4376 Independence Ct, Sarasota, FL 34234
      View Details
    • Contact for pricing
      600 SF

      Air Conditioned Specialty Property Available

      625 square foot specialty property for rent.
      3080 North Washington Blvd, Sarasota, FL 34234
      View Details
    • Contact for pricing

      Sarasota Industrial Facility with Heavy Power

      34,922 SF industrial facility with heavy power and multiple loading.
      4700 Middle Ave, Sarasota, FL 34234
      View Details

    Property Visit Statistics

    • Visits by month
      3.7k
    • Visitors by month
      1.9k
    • Avg Time on site
      511 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1040 University Pkwy
    Sarasota, FL 34234-2853
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1040 University Pkwy, Sarasota, FL, 34234
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!