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Property profile & analytics
OFF-MARKET
Estimated value
$4,805,000
Manufacturing properties
1502 Lime Ave Sarasota, FL 34237-2814
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4490530
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,100 SF
Lot
0.87 ac (37,776 SF)
Zoning code
IHD
APN
2023-03-0055
UPID
US18-4490530
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
-
Ray Routh Inc General Contractor Renovation Specialist
-
Sarasota Antique Buyers Home Decor Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.63M
Comparable Approach
Comparable
$4.16M
Blend (final)
Blend
$4.81M
Owner & transaction history
NORTH LIME HOLDINGS LLC
NORTH LIME HOLDINGS LLC
Zoning & alternative use
IHD · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
istics for accessory uses of religious institutions. 24-5540 Solar Utilities (24-ZTA-03) - An Ordinance to allow a Solar Utility as a permitted use in the Industrial General District (IGD) and Industrial Heavy District (IHD) zone districts and to adopt certain development standards for solar utilities. 24-5523 Housing Authority Overlay District (24-ZTA-01) -…
Zone name
Industrial Heavy District
General category
INDUSTRIAL
Zone area
62.19 ac
Source
Home | City of Sarasota
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%
$5,015,000
6.5%
$4,630,000
7%
$4,300,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,725,000
Current use
Blend value · Realmo final
$4.81M
Range $4.32M – $5.29M · ±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
$184 / 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
$22,149
Tax year 2023
Assessed value
$1,212,000
Assessed 2023
Previous assessed
$972,500
+24.6% YoY
Effective rate
1.83%
On assessed value
Assessed land
$561,100
Assessed improvement
$650,900
Land market value
$561,100
Improvement market value
$650,900
Total market value
$1,212,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
1
Bathrooms
9
Total area
26,100 SF
Lot
0.87 ac (37,776 SF)
Zoning code
IHD
APN
2023-03-0055
UPID
US18-4490530
Jurisdiction
SARASOTA
Zoning & alternative use
IHD · Sarasota, FLZoning IHD · permitted uses
IHD · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
istics for accessory uses of religious institutions. 24-5540 Solar Utilities (24-ZTA-03) - An Ordinance to allow a Solar Utility as a permitted use in the Industrial General District (IGD) and Industrial Heavy District (IHD) zone districts and to adopt certain development standards for solar utilities. 24-5523 Housing Authority Overlay District (24-ZTA-01) - An Ordinance to expand the Housing Authority Overlay District by adding 1442 22nd
Zone name
Industrial Heavy District
General category
INDUSTRIAL
Zone area
62.19 ac
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.7M
INDUSTRIAL (GENERAL) 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
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
9
Lot
0.87 ac
Current owner
From public records · entity-resolved
NORTH LIME HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1330 MAIN ST #9, SARASOTA, FL 34236-5634
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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