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Property profile & analytics
OFF-MARKET
Estimated value
$4,000,000
Turn key restaurants
1355 Main St Sarasota, FL 34236-5616
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-4875835
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,055 SF
Lot
0.12 ac (5,214 SF)
Zoning code
DTB
APN
2027-04-0075
UPID
US18-4875835
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
-
El Melvin Cocina Mexicana Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.00M
Owner & transaction history
Eb El Melvins LLC · 1 yrs held
Eb El Melvins LLC
since 2024
Last sale
$4.0M
4 recorded transactions
Zoning & alternative use
DTB · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.0M
+27.7%
Neighborhood: shopping center
$3.5M
+13.1%
Commercial (general)
$3.5M
+12.4%
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
$4,000,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,135,000
Current use
RETAIL STORES
$4,005,000
Change: +28% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,545,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,520,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$3,195,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $4.00M (Aug 29 2024)
Last sale anchor
$4.00M
Aug 29 2024
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
$791 / 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
$28,235
Tax year 2023
Assessed value
$1,827,000
Assessed 2023
Previous assessed
$1,393,000
+31.2% YoY
Effective rate
1.55%
On assessed value
Assessed land
$1,304,600
Assessed improvement
$522,400
Land market value
$1,304,600
Improvement market value
$522,400
Total market value
$1,827,000
Applied tax rate
9,500.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
4
Bathrooms
2
Total area
5,055 SF
Lot
0.12 ac (5,214 SF)
Zoning code
DTB
APN
2027-04-0075
UPID
US18-4875835
Jurisdiction
SARASOTA
Zoning & alternative use
DTB · Sarasota, FL
Zoning DTB · permitted uses
DTB · 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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$3.1M
RETAIL STORES
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.2M
RESTAURANT Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Eb El Melvins LLC
Entity
Mailing address
313 LOOKOUT PT DR, OSPREY, FL 34229-9798
Ownership since
2024
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 29, 2024
$4,000,000
Eb El Melvins LLC
Lower Main LLC
Warranty Deed
—
Jan 22, 2024
—
Lower Main LLC
Ocean Blvd LLC
Quit Claim Deed
related
—
Aug 21, 2019
$2,200,000
Ocean Blvd LLC
Two Senoritas Of Sarasota INC
Warranty Deed
—
Jun 12, 1998
$500,000
Two Senoritas Of Sarasota INC
Lavern G Soper Estate
Grant Deed
$400,000 · Seller
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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