Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1487 2nd St Sarasota, FL 34236-4911
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1487 2nd St Sarasota, FL 34236-4911

    View on Map
    • Community centers
    • 4,465 SF
    • 0.18 lot acres
    Off-Market
    Property ID
    US18-3468612
    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.
    Value Estimations
    $1,150,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hilot Traditional Massage & Wellness / Alternative Medicine Practice / Spa & Massage Center
    • the Beauty Bar | srq / Hair Salon / Nail Salon
    • WellKind Mental Health / Crisis Center / Medical Clinic
    • Golden Age Acupuncture & Wellness / Alternative Medicine Practice / Acupuncture
    • Therapists in Sarasota/Cape Coral Therapists / Family Counselor / Consultant

    Property Details for 1487 2nd St

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.18 lot acres
    Property size
    4,465 SF
    Zone code
    DTC
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    2026-14-0061
    APU
    2026140061

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,315,000
      6.5%
      $1,215,000
      7%
      $1,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.541
    Latitude
    27.3383
    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
    $23,591
    $833,900
    $696,000
    $1,529,900
    -
    $833,900
    $696,000
    $1,529,900

    Comparable in this City

    • Value Estimation
      $1,010,000
      4,552 SF

      312 Washington Blvd

      MINI-MALL • 4,552 SF
      312 Washington Blvd, Sarasota, FL 34236-6945
      View Details
    • Value Estimation
      $15,895,000
      21,713 SF

      47 Palm Ave

      MINI-MALL • 21,713 SF
      47 Palm Ave, Sarasota, FL 34236-5699
      View Details
    • Value Estimation
      $13,310,000
      91,553 SF

      1993 Main St

      MINI-MALL • 91,553 SF
      1993 Main St, Sarasota, FL 34236-5914
      View Details
    • Value Estimation
      $6,260,000
      5,249 SF

      312 John Ringling Blvd

      MINI-MALL • 5,249 SF
      312 John Ringling Blvd, Sarasota, FL 34236-1321
      View Details
    • Value Estimation
      $1,045,000
      6,323 SF

      1400 Main St

      MINI-MALL • 6,323 SF
      1400 Main St, Sarasota, FL 34236-5715
      View Details
    • Value Estimation
      $2,705,000
      13,762 SF

      530 Orange Ave

      MINI-MALL • 13,762 SF
      530 Orange Ave, Sarasota, FL 34236-7502
      View Details

    Similar Nearby for Sale

    • $352,800
      882 SF

      Downtown Sarasota Retail/Office Condominium

      Prime location retail/office condominium in Sarasota's Rosemary District.
      430 Kumquat Ct, Sarasota, FL 34236
      View Details
    • $6,300,000

      St. Armand's Circle Retail Investment

      Prime retail investment opportunity on St. Armand's Circle.
      331 John Ringling Blvd, Sarasota, FL 34236
      View Details
    • Contact for pricing

      Historic Sarasota Building with Bayfront Zoning

      Iconic 1926 building in downtown Sarasota with versatile development potential.
      601 Quay Cmns, Sarasota, FL 34236
      View Details
    • $5,990,000
      1.42 Acres

      Sarasota Shovel-Ready Luxury Development Land

      Buildable parcel in Rosemary District with approved mixed-use development plans.
      1625 4Th St, Sarasota, FL 34236
      View Details
    • Contact for pricing
      240,297 SF

      Value-Add Opportunity with Parking

      Property in high-growth area with integrated parking structure.
      1800 2Nd St, Sarasota, FL 34236
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,099 SF

      Retail Space in Sarasota Row

      Mixed-use complex near downtown Sarasota and the Farmer’s Market.
      1451 1St St, Sarasota, FL 34236
      View Details
    • $30 SF/Yr
      1,550 SF

      Downtown Sarasota Retail Space

      Prime location, 1550 sq ft, multi-tenant
      1530 Dolphin St, Sarasota, FL 34236
      View Details
    • Contact for pricing

      Retail Space in Luxury Complex

      Retail unit in luxury apartment complex in Downtown Sarasota.
      1425 2Nd St, Sarasota, FL 34236
      View Details
    • Contact for pricing
      20,000 SF

      Historic Kress Building Retail Space

      Iconic downtown Sarasota building with flexible retail space.
      1440 Main St, Sarasota, FL 34236
      View Details
    • $67 SF/Yr
      804 SF

      Downtown Sarasota Retail Space

      Retail space in a vibrant downtown Sarasota location.
      1111 Ritz Carlton Dr, Sarasota, FL 34236
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1487 2nd St
    Sarasota, FL 34236-4911
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!