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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Turn key restaurants
1503 4th St, Sarasota, FL 34236
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US18-1270107
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2003
Total area
1,590 SF
Lot
0.36 ac (15,550 SF)
Zoning code
DTE
APN
2026-11-0086
UPID
US18-1270107
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$646k
Blend (final)
Blend
$615k
Owner & transaction history
Cornelius Family LLC · 14 yrs held
Cornelius Family LLC
since 2012
7 recorded transactions
Zoning & alternative use
DTE · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+1.9%
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
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$985,000
Current use
OFFICE BUILDING
$1,005,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$387 / 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
$20,621
Tax year 2023
Assessed value
$2,053,300
Assessed 2023
Previous assessed
$1,119,900
+83.3% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,743,800
Assessed improvement
$309,500
Land market value
$1,743,800
Improvement market value
$309,500
Total market value
$2,053,300
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2003
Heating
YES
Cooling
YES
Stories
1
Total area
1,590 SF
Lot
0.36 ac (15,550 SF)
Zoning code
DTE
APN
2026-11-0086
UPID
US18-1270107
Jurisdiction
SARASOTA
Zoning & alternative use
DTE · Sarasota, FL
Zoning DTE · permitted uses
DTE · 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
RESTAURANT Current
Est. value
$985,000
OFFICE BUILDING
Est. value
$1.0M
RESTAURANT Current
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
2003
Heating
YES
Cooling
Yes
Stories
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Cornelius Family LLC
Entity
Mailing address
1860 HAWKINS CT, SARASOTA, FL 34236-6910
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2012
$675,000
Cornelius Family LLC
Villa De Santa Monika LLC
Warranty Deed
—
Oct 28, 2011
—
Villa De Santa Monika LLC
—
Trustees Deed
related
$15,785 · Law Office Of Daniel Joy
Dec 20, 2002
$300,000
Villa De Santa Monika LLC
Tran-tomlinson,monika Tran
Grant Deed
$289,770 · Howell Trust
Jun 22, 1999
$95,000
Monika Tran
Macler,peter E & Paul
Grant Deed
$60,000 · Nationsbank Of Fl NA Trustee
—
—
Albert W Tomlinson
—
Deed Of Trust
related
$100,000 · Metcalfe Mclain & Joy Pa
—
—
Villa Desanta Monika LLC
—
Deed Of Trust
related
$500,000 · First State Bank
—
—
Villa De Santa Monika LLC
—
Deed Of Trust
related
$289,458 · Stearns Bank NA
—
—
Villa De Santa Monika LLC
—
Deed Of Trust
related
$565,000 · Chat Pham
—
—
Villa Desanta Monika LLC
—
Deed Of Trust
related
$343,506 · Malkin Robert A (te)
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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