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Property profile & analytics
OFF-MARKET
Estimated value
$2,890,000
Turn key restaurants
121 Playmore Dr Venice, FL 34293-7508
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-1851411
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,030 SF
Lot
2 ac (87,120 SF)
Zoning code
MRPZ; CI
APN
0787-10-0001
UPID
US18-1851411
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
-
Tarpon Point Grill and Marina Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.06M
Blend (final)
Blend
$2.89M
Owner & transaction history
Ipg Florida LLC · 4 yrs held
Ipg Florida LLC
since 2021
Last sale
$2.3M
6 recorded transactions
Zoning & alternative use
MRPZ; CI · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+14.8%
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 Venice submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Venice 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
$3,350,000
ML approach
$3,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,195,000
Current use
COMMERCIAL (GENERAL)
$2,520,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$2.89M
Range $2.60M – $3.18M · ±10% · vs last sale $2.30M (Aug 17 2021)
Last sale anchor
$2.30M
Aug 17 2021
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
$954 / 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
$20,087
Tax year 2023
Assessed value
$1,793,400
Assessed 2023
Previous assessed
$1,107,800
+61.9% YoY
Effective rate
1.12%
On assessed value
Assessed land
$1,376,300
Assessed improvement
$417,100
Land market value
$1,376,300
Improvement market value
$417,100
Total market value
$1,793,400
Applied tax rate
100.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Rooms
19
Bathrooms
2
Total area
3,030 SF
Lot
2 ac (87,120 SF)
Zoning code
MRPZ; CI
APN
0787-10-0001
UPID
US18-1851411
Jurisdiction
SARASOTA
Zoning & alternative use
MRPZ; CI · Venice, FL
Zoning MRPZ; CI · permitted uses
MRPZ; CI · Venice, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Venice. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Rooms
19
Bathrooms
2
Lot
2 ac
Current owner
From public records · entity-resolved
Ipg Florida LLC
Entity
Mailing address
980 BOCA CIEGA ISLE DR, ST PETE BEACH, FL 33706-2540
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2021
$2,300,000
Ipg Florida LLC
Myakka Big Watkrs INC
Special Warranty Deed
$1,020,000 · Myakka Big Waters INC
Jul 1, 1997
$475,000
Myakka Big Waters INC
Century 21 Almar & Associates
Grant Deed
—
—
—
Myakka Big Waters INC
—
Loan Modification
related
$427,139 · Cadence Bk
—
—
Myakka Big Waters INC
—
Deed Of Trust
related
$100,000 · Cadence Bank
—
—
Myakka Big Waters INC
—
Loan Modification
related
$827,153 · Cadence Bk NA
—
—
Myakka Big Waters INC
—
Deed Of Trust
related
$150,000 · Cadence Bank
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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