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Property profile & analytics
OFF-MARKET
Banks
1234 Palm Ave Sarasota, FL 34236
Individually Owned
11-yr Hold
Free & Clear
Property ID
US18-3808208
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
231 SF
Lot
0.42 ac (18,290 SF)
Zoning code
DTB
APN
2027-04-0051
UPID
US18-3808208
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
-
Sarasota Woman's Club Nightclub Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Resource Conservation Of Sarasota · 11 yrs held
Resource Conservation Of Sarasota
since 2014
4 recorded transactions
Zoning & alternative use
DTB · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Downtown Bayfront (DTB) district is identical to Downtown Core (DTC) above except that building heights shall be limited to a maximum of 18 stories
Zone name
Downtown Bayfront
General category
COMMERCIAL
Zone area
114.58 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$24,434
Tax year 2023
Assessed value
$1,799,300
Assessed 2023
Previous assessed
$1,523,200
+18.1% YoY
Effective rate
1.36%
On assessed value
Assessed land
$1,702,800
Assessed improvement
$96,500
Land market value
$1,702,800
Improvement market value
$96,500
Total market value
$1,799,300
Applied tax rate
200.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
1
Total area
231 SF
Lot
0.42 ac (18,290 SF)
Zoning code
DTB
APN
2027-04-0051
UPID
US18-3808208
Jurisdiction
SARASOTA
Zoning & alternative use
DTB · Sarasota, FLZoning DTB · permitted uses
DTB · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Downtown Bayfront (DTB) district is identical to Downtown Core (DTC) above except that building heights shall be limited to a maximum of 18 stories
Zone name
Downtown Bayfront
General category
COMMERCIAL
Zone area
114.58 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Resource Conservation Of Sarasota
Individual
Free & Clear · 11 yrs held
Mailing address
2 N TAMIAMI TRL STE #100, SARASOTA, FL 34236-5562
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2014
$533,800
Resource Conservation Of Sarasota
Blackburn Consolidated Holdi
Grant Deed
—
Feb 21, 2014
$236,900
Resource Conservation Of Sarasota
Blackburn Consolidated Holdi
Warranty Deed
—
Sep 12, 2013
$695,400
Resource Conservation Of Sarasota
Blackburn Consolidated Holdi
Warranty Deed
—
Jul 3, 2012
$18,350,000
One Sarasota Tower Lllp
One Sarasota Tower INC
Warranty Deed
—
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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