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Property profile & analytics
OFF-MARKET
Estimated value
$83,710,000
Apartment buildings
1415 2nd St1st-floor Sarasota, FL 34236-5102
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-8229721
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2017
Total area
306,770 SF
Lot
1.08 ac (47,250 SF)
Zoning code
DTC
APN
2026-14-0054
UPID
US18-8229721
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 Desota Loan Service
-
andrea banks speech pathology llc Physician
-
Living for Life LLC Restaurant
-
cmlocalmarketing Advertising Agency Marketing & Advertising
-
Disrups Incorporated Corporate Office Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$83.71M
Owner & transaction history
Desota Apartments Property Owner Ll · 3 yrs held
Desota Apartments Property Owner Ll
since 2023
Last sale
$81.5M
2 recorded transactions
Zoning & alternative use
DTC · 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
Method
Estimation
Statistic approach
$88,100,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$134,800,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$102,000,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$96,840,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$90,505,000
Change: 0% · Conversion: Moderate
RESTAURANT
$77,945,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$83.71M
Range $75.34M – $92.08M · ±10% · vs last sale $81.52M (Mar 16 2023)
Last sale anchor
$81.52M
Mar 16 2023
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
$273 / 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
$1,195,172
Tax year 2023
Assessed value
$78,322,900
Assessed 2023
Previous assessed
$68,185,100
+14.9% YoY
Effective rate
1.53%
On assessed value
Assessed land
$10,622,800
Assessed improvement
$67,700,100
Land market value
$10,622,800
Improvement market value
$67,700,100
Total market value
$78,322,900
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2017
Heating
YES
Cooling
YES
Stories
1
Units
180
Bathrooms
276
Total area
306,770 SF
Lot
1.08 ac (47,250 SF)
Zoning code
DTC
APN
2026-14-0054
UPID
US18-8229721
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FL
Zoning DTC · permitted uses
DTC · 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
COMMERCIAL (GENERAL)
Est. value
$134.8M
RETAIL STORES
Est. value
$102.0M
OFFICE BUILDING
Est. value
$96.8M
MEDICAL BUILDING
Est. value
$90.5M
RESTAURANT
Est. value
$77.9M
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
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
2017
Heating
YES
Cooling
Yes
Stories
1
Units
180
Bathrooms
276
Lot
1.08 ac
Current owner
From public records · entity-resolved
Desota Apartments Property Owner Ll
Entity
Free & Clear · 3 yrs held
Mailing address
11766 WILSHIRE BLVD STE #1500, LOS ANGELES, CA 90025-6552
Ownership since
2023
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 16, 2023
$81,515,800
Desota Apartments Property Owner Ll
Br Desota Dst
Special Warranty Deed
—
May 2, 2019
$80,300,000
Br Desota Dst
Sarasota Second Street Owner L
Grant Deed
$42,932,000 · Keybank USA
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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