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Property profile & analytics
OFF-MARKET
Estimated value
$1,540,000
Hotels
138 Garfield Dr Sarasota, FL 34236-2023
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-3221134
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,994 SF
Lot
0.41 ac (18,000 SF)
Zoning code
RMF2
APN
2016-11-0034
UPID
US18-3221134
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
-
Casa Limonada Boutique Motel Hotel & Motel
-
Chic Spa and Massage Alternative Medicine Practice Spa & Massage Center
-
Longboat Key Limo and Taxi Service Establishment Taxi Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$1.54M
Owner & transaction history
Mitzafon & Vidanova Prop LLC · 10 yrs held
Mitzafon & Vidanova Prop LLC
since 2015
7 recorded transactions
Zoning & alternative use
RMF2 · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Home | City of Sarasota
Top alternative use upside
Retail stores
$2.4M
+4.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,265,000
Current use
RETAIL STORES
$2,370,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,100,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,085,000
Change: -8% · Conversion: Difficult
OFFICE BUILDING
$1,890,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.54M
Range $1.39M – $1.69M · ±10%
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
$514 / 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
$39,339
Tax year 2023
Assessed value
$3,153,600
Assessed 2023
Previous assessed
$2,450,400
+28.7% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,430,000
Assessed improvement
$723,600
Land market value
$2,430,000
Improvement market value
$723,600
Total market value
$3,153,600
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
WALL UNIT
Buildings
4
Stories
1
Rooms
4
Bathrooms
1
Total area
2,994 SF
Lot
0.41 ac (18,000 SF)
Zoning code
RMF2
APN
2016-11-0034
UPID
US18-3221134
Jurisdiction
SARASOTA
Zoning & alternative use
RMF2 · Sarasota, FLZoning RMF2 · permitted uses
RMF2 · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.3M
RETAIL STORES
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.9M
HOTEL/MOTEL 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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Rooms
4
Bathrooms
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Mitzafon & Vidanova Prop LLC
Entity
Mailing address
138 GARFIELD DR, SARASOTA, FL 34236-2023
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Aug 19, 2022
—
Mitzafon & Vidanova LLC
—
Deed
related
$2,100,000 · Gulfside Bank
Sep 3, 2019
—
Mitzafon & Vidanova Prop LLC
—
Deed
related
$299,500 · Martin Richard A Trust (rt)
Jul 22, 2019
—
Mitzafon & Vidanova Prop LLC
—
Trustees Deed
related
$80,000 · Martin Richard A A III Tr (rt)
Aug 26, 2015
$1,950,000
Mitzafon & Vidanova Prop LLC
Phillips,paul E
Warranty Deed
$1,000,000 · Phillips Paul E Trust (pt)
—
—
Phillips,paul E Trust
—
Deed Of Trust
related
$200,000 · Rl Bb6-fl Pau LLC
—
—
Mitzafon & Vidanova Prop LLC
—
Loan Modification
related
$299,500 · Martin Richard A Trust (rt)
—
—
Phillips,tr
—
Deed Of Trust
related
$230,000 · Gold Bank NA
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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