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Property profile & analytics
OFF-MARKET
Estimated value
$12,650,000
Retail space
1299 Tamiami Trl Sarasota, FL 34239
Entity Owned
23-yr Hold
Free & Clear
Property ID
US18-0838395
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
88,153 SF
Lot
3.66 ac (159,450 SF)
Zoning code
CGD
APN
2035-04-0006
UPID
US18-0838395
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
-
Adept Audiology Hearing Aid Store Hearing Aid Repair Service
-
Jen's condo at Sarasota Bay Club Nursing Home Social Service Agency
-
Dr. Lyndsey Nalu Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.65M
Owner & transaction history
Midtown Associates LLP · 23 yrs held
Midtown Associates LLP
since 2002
7 recorded transactions
Zoning & alternative use
CGD · Sarasota, 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 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
$144 / 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
$121,077
Tax year 2023
Assessed value
$6,866,800
Assessed 2023
Previous assessed
$6,553,400
+4.8% YoY
Effective rate
1.76%
On assessed value
Assessed land
$2,164,800
Assessed improvement
$4,702,000
Land market value
$2,164,800
Improvement market value
$4,702,000
Total market value
$6,866,800
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
35
Bathrooms
24
Total area
88,153 SF
Lot
3.66 ac (159,450 SF)
Zoning code
CGD
APN
2035-04-0006
UPID
US18-0838395
Jurisdiction
SARASOTA
Zoning & alternative use
CGD · Sarasota, FL
Zoning CGD · permitted uses
CGD · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sarasota. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
35
Bathrooms
24
Lot
3.66 ac
Current owner
From public records · entity-resolved
Midtown Associates LLP
Entity
Free & Clear · 23 yrs held
Mailing address
1229 S TAMIAMI TRL, SARASOTA, FL 34239-2208
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2002
—
Midtown Associates LLP
One Florida Legal Investments
Quit Claim Deed
related
—
Jul 18, 2002
$70,000
One Florida Legal Investments
House,ronald
Grant Deed
—
Jul 18, 2002
—
One Florida Legal Investments
House,ronald & Sharon L
Quit Claim Deed
related
—
Dec 31, 2001
—
One Florida Legal Inv INC
Clyde H Wilson Estate
Quit Claim Deed
related
—
Dec 31, 2001
$5,000
One Florida Legal Inv INC
Clyde H Wilson Estate
Grant Deed
—
—
—
Midtown Associates LLP
—
Deed Of Trust
related
$5,500,000 · Wells Fargo Bank
—
—
Midtown Associates LLP
—
Loan Modification
related
$5,006,700 · Iberiabank
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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