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Property profile & analytics
FOR LEASE
Warehouses
1227 Hardin Ave Sarasota, FL 34243
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4819831
For Lease
1 / 34
$5,150,000 SF/Yr
1227 Hardin Ave, Sarasota, FL 34243
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1968
Construction
CONCRETE
Total area
21,280 SF
Lot
3.35 ac (146,100 SF)
Zoning code
LM
APN
66565.1035-9
UPID
US18-4819831
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
-
Cruise Car Car Dealer Manufacturer
-
Icon EV Cruise Car Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.27M
CAP Approach
CAP
$3.40M
Comparable Approach
Comparable
$6.05M
Blend (final)
Blend
$4.36M
Owner & transaction history
Fla Industrial LLC · 4 yrs held
Fla Industrial LLC
since 2022
Last sale
$4.0M
4 recorded transactions
Zoning & alternative use
LM · Sarasota, FL
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 Sarasota submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sarasota 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
$5,330,000
ML approach
$5,265,000
CAP Approach
CAP Return
Estimation
6%
$3,680,000
6.5%
$3,395,000
7%
$3,155,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,365,000
Current use
Blend value · Realmo final
$4.36M
Range $3.92M – $4.80M · ±10% · vs last sale $4.00M (May 10 2022)
Last sale anchor
$4.00M
May 10 2022
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
$205 / 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
$60,971
Tax year 2023
Assessed value
$3,265,824
Assessed 2023
Previous assessed
$1,822,320
+79.2% YoY
Effective rate
1.87%
On assessed value
Assessed improvement
$3,265,824
Improvement market value
$3,265,824
Total market value
$3,265,824
Applied tax rate
303.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1968
Construction
CONCRETE
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
21,280 SF
Lot
3.35 ac (146,100 SF)
Zoning code
LM
APN
66565.1035-9
UPID
US18-4819831
Jurisdiction
MANATEE
Zoning & alternative use
LM · Sarasota, FLZoning LM · permitted uses
LM · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.4M
WAREHOUSE, STORAGE Current
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
1968
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
3.35 ac
Current owner
From public records · entity-resolved
Fla Industrial LLC
Entity
Mailing address
701 W 246TH ST, BRONX, NY 10471-3501
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
May 10, 2022
$4,000,000
Fla Industrial LLC
21 Lighting INC
Special Warranty Deed
$2,600,000 · Banesco USA
—
—
Studio 21 Lighting INC
—
Deed Of Trust
related
$1,272,137 · M & I Marshall & Isley Bank
—
—
Studio 21 Lighting INC
—
Deed Of Trust
related
$1,237,986 · Bmo Harris Bank
—
—
Studio 21 Lighting INC
—
Deed Of Trust
related
$1,289,670 · M & I Marshall & Isley 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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