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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Commercial land
1241 Florence St Nokomis, FL 34275-3867
Entity Owned
5-yr Hold
Property ID
US18-2999595
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1953
Total area
1,104 SF
Lot
3.67 ac (159,692 SF)
Zoning code
RMF2
APN
0405-01-0002
UPID
US18-2999595
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
-
The Grove Apartment Homes Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$990k
Owner & transaction history
The Grove Apartment Homes LLC · 5 yrs held
The Grove Apartment Homes LLC
since 2021
Last sale
$975,000
2 recorded transactions
Zoning & alternative use
RMF2 · Nokomis, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Nokomis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nokomis 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
$1,200,000
ML approach
$1,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $975k (Mar 4 2021)
Last sale anchor
$975k
Mar 4 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
$897 / 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
$13,685
Tax year 2023
Assessed value
$1,163,100
Assessed 2023
Previous assessed
$1,057,400
+10.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,163,100
Land market value
$1,163,100
Total market value
$1,163,100
Applied tax rate
900.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1953
Heating
YES
Stories
1
Rooms
5
Bathrooms
2
Total area
1,104 SF
Lot
3.67 ac (159,692 SF)
Zoning code
RMF2
APN
0405-01-0002
UPID
US18-2999595
Jurisdiction
SARASOTA
Zoning & alternative use
RMF2 · Nokomis, FLZoning RMF2 · permitted uses
RMF2 · Nokomis, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1953
Heating
YES
Stories
1
Rooms
5
Bathrooms
2
Lot
3.67 ac
Current owner
From public records · entity-resolved
The Grove Apartment Homes LLC
Entity
Mailing address
1550 THICKET LN, SARASOTA, FL 34240-9402
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2021
$975,000
The Grove Apartment Homes LLC
George L Hermann
Warranty Deed
—
May 4, 2017
$200,000
Hermann,george L Living Trust
Cordova,raymond H & Susanne C
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.
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