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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Bars & Pubs
1490 Main St, Sarasota, FL 34236-5715
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US18-9055427
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,944 SF
Lot
0.06 ac (2,624 SF)
Zoning code
DTC
APN
2027-03-0055
UPID
US18-9055427
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
-
PornoBingo Theater & Performing Art Venue Nightclub
-
Blueweb Media Group Publishing House
-
The Gator Club Bar & Pub
-
Worth's Block Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$869k
Blend (final)
Blend
$675k
Owner & transaction history
Main Street Gator Club LLC · 21 yrs held
Main Street Gator Club LLC
since 2005
5 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
by Request
ML approach
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NIGHTCLUB (COCKTAIL LOUNGE)
$1,115,000
Current use
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$137 / 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
$16,157
Tax year 2023
Assessed value
$1,130,600
Assessed 2023
Previous assessed
$853,900
+32.4% YoY
Effective rate
1.43%
On assessed value
Assessed land
$1,018,600
Assessed improvement
$112,000
Land market value
$1,018,600
Improvement market value
$112,000
Total market value
$1,130,600
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
6
Bathrooms
2
Total area
4,944 SF
Lot
0.06 ac (2,624 SF)
Zoning code
DTC
APN
2027-03-0055
UPID
US18-9055427
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
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$1.1M
NIGHTCLUB (COCKTAIL LOUNGE) Current
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
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
6
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Main Street Gator Club LLC
Entity
Mailing address
5330 BENEVA WOODS CIR, SARASOTA, FL 34233-4117
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2009
—
Main Street Gator Club LLC
—
Deed Of Trust
related
$2,700,000 · Witzer Stephen A (te)
Apr 11, 2005
$2,000,000
Main Street Gator Club LLC
Great American Concessions INC
Warranty Deed
$800,000 · Gator Club Corp
Sep 22, 1998
$595,000
Great American Concessions INC
Gator Club Corp
Grant Deed
—
—
—
L & Z Of Sarasota INC
—
Deed Of Trust
related
$658,430 · Gator Club Corp
—
—
Main Street Gator Club LLC
—
Deed Of Trust
related
$150,000 · Gator Club Corp
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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