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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12497 Tamiami S Trl North Port, FL 34287-1447

    • Office buildings
    • 9,944 SF
    • 1.13 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2022
    $1,569,300
    Value Estimations
    $1,780,000
    Show details
    Cap Rate Potential
    8.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-3244795
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 12497 Tamiami S Trl

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.13 lot acres
    Property size
    9,944 SF
    Zone code
    OPI
    Property type
    Office buildings
    APN
    0791-03-0008
    APU
    791030008

    Description

    This exceptional Class A, single-story medical office building, totaling 11,534 square feet, is situated on a 1.127-acre lot at 12497 South Tamiami Trail in North Port, Florida (Sarasota County), near the intersection of S Tamiami Trail (US 41) & Santa Cruz Ave. Built in 1977 and extensively renovated in 2024, the property boasts 54 parking spaces and offers multiple tenancy options. Currently, 5,000 square feet of space is available for lease. The building is zoned OPI/Office, Professional Institutional (APN: 0791 03 0008) and is located in the Venice submarket. Its convenient location provides easy access to major roadways, ensuring unparalleled convenience for clients and employees. This property presents a unique opportunity for businesses seeking a modern, functional, and sophisticated workspace in a thriving area. The building's recent renovation ensures modern amenities and a comfortable environment. The ample parking significantly enhances the property's appeal and functionality. This is an ideal location for medical practices or other professional businesses seeking a high-profile address in a rapidly growing area. The property's size and layout offer flexibility to accommodate a variety of business needs. Don't miss this chance to secure your business's future in this prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,900,000
      ML approach
      $1,990,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,575,000
      6.5%
      $2,380,000
      7%
      $2,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,287,000
      Market price range: $891k - $1.96M

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

    Location Insight

    • Map
    • Local Demand
    City
    North Port
    County
    Sarasota
    State
    Florida
    Longitude
    -82.2649
    Latitude
    27.0478
    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
    $17,717
    $367,200
    $833,900
    $1,201,100
    -
    $367,200
    $833,900
    $1,201,100

    Comparable in this City

    • Value Estimation
      $4,270,000
      23,440 SF

      4451 Aidan Ln

      OFFICE BUILDING (MULTI-STORY) • 23,440 SF
      4451 Aidan Ln, North Port, FL 34287-4933
      View Details
    • Value Estimation
      $1,810,000
      8,200 SF

      13487 Tamiami Trl

      OFFICE BUILDING • 8,200 SF
      13487 Tamiami Trl, North Port, FL 34287-1211
      View Details
    • Value Estimation
      $775,000
      3,080 SF

      14243 Tamiami Trl

      PROFESSIONAL BUILDING • 3,080 SF
      14243 Tamiami Trl, North Port, FL 34287-2215
      View Details
    • Value Estimation
      $1,300,000
      9,384 SF

      5400 Biscayne Dr

      OFFICE BUILDING • 9,384 SF
      5400 Biscayne Dr, North Port, FL 34287-1932
      View Details
    • Value Estimation
      $1,770,000
      8,400 SF

      13831 Tamiami Trl

      PROFESSIONAL BUILDING • 8,400 SF
      13831 Tamiami Trl, North Port, FL 34287
      View Details
    • Value Estimation
      $1,435,000
      6,000 SF

      14400 Tamiami Trl

      PROFESSIONAL BUILDING • 6,000 SF
      14400 Tamiami Trl, North Port, FL 34287-2703
      View Details

    Similar Nearby for Sale

    • $6,249,990
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      North Port Leased Office Building

      29,366 SF office building, 90% leased, investment opportunity.
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    • $1,400,000
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      North Port Office Building For Sale

      Office building on Tamiami Trail with extensive parking.
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    • $1,499,000
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      Prime 1.67-acre commercial lot, fully entitled.
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      Prime Commercial Lot, North Port, FL
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    Similar Nearby for Lease

    • $20 SF/Yr
      24,441 SF

      North Port Office Building For Sale

      Executive & Medical Suites Available in North Port, FL
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    • $20 SF/Yr
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      Prime North Port Office Suites

      Class A Office Space, 4 Suites Available
      5920 Pan American Blvd, North Port, FL 34287
      View Details
    • $96,880

      High-End Office Space Available

      Meticulously maintained office building with high-end finishes, shell space.
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      View Details
    • New
      $21 SF/Yr
      4,000 SF

      Prime Commercial Space in North Port

      Versatile commercial space in a rapidly growing area.
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    • $18 SF/Yr
      20,380 SF

      Pan American Professional Center Office Space

      North Port, FL: Class A Office, 7,827 SF Available
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    • $18 SF/Yr
      6,750 SF

      North Port Medical Office for Lease

      Modern, move-in ready medical suites in prime location.
      14575 Tamiami Trl, North Port, FL 34287
      View Details
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    North Port, FL 34287-1447
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    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
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