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Property profile & analytics
OFF-MARKET
Estimated value
$8,455,000
Assisted living facilities
1507 Tuttle Ave Sarasota, FL 34239-2608
Individually Owned
2-yr Hold
Free & Clear
Property ID
US18-4519262
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
61,072 SF
Lot
6.24 ac (271,985 SF)
Zoning code
MCI
APN
0055-05-0025
UPID
US18-4519262
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
-
Armando Arias Jr, PTA Physician
-
Aspire at Sarasota Nursing Home Retirement Community
-
Jennifer Moreland, COTA Physician
-
Johanna J. Lamanilao, PT Medical Clinic
-
Erinn Zachariasen Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.46M
Owner & transaction history
1507 South Tuttle Avenue Fl Owner L · 2 yrs held
1507 South Tuttle Avenue Fl Owner L
since 2023
Last sale
$8.2M
6 recorded transactions
Zoning & alternative use
MCI · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.4M
+186.9%
Office building
$11.1M
+138.2%
Auto repair, garage
$10.1M
+117.0%
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
$8,895,000
ML approach
$10,330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$13,350,000
Change: +187% · Conversion: Difficult
OFFICE BUILDING
$11,085,000
Change: +138% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,100,000
Change: +117% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,630,000
Change: +107% · Conversion: Difficult
RETAIL STORES
$8,245,000
Change: +77% · Conversion: Difficult
Blend value · Realmo final
$8.46M
Range $7.61M – $9.30M · ±10% · vs last sale $8.23M (Sep 7 2023)
Last sale anchor
$8.23M
Sep 7 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
$138 / 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
$130,290
Tax year 2023
Assessed value
$7,615,500
Assessed 2023
Previous assessed
$7,691,000
-1.0% YoY
Effective rate
1.71%
On assessed value
Assessed land
$1,440,000
Assessed improvement
$6,175,500
Land market value
$1,440,000
Improvement market value
$6,175,500
Total market value
$7,615,500
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
155
Bathrooms
103
Total area
61,072 SF
Lot
6.24 ac (271,985 SF)
Zoning code
MCI
APN
0055-05-0025
UPID
US18-4519262
Jurisdiction
SARASOTA
Zoning & alternative use
MCI · Sarasota, FL
Zoning MCI · permitted uses
MCI · 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
Est. value
$13.4M
OFFICE BUILDING
Est. value
$11.1M
AUTO REPAIR, GARAGE
Est. value
$10.1M
INDUSTRIAL (GENERAL)
Est. value
$9.6M
RETAIL STORES
Est. value
$8.2M
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
155
Bathrooms
103
Lot
6.24 ac
Current owner
From public records · entity-resolved
1507 South Tuttle Avenue Fl Owner L
Individual
Free & Clear · 2 yrs held
Mailing address
885 3RD AVE FL #29, NEW YORK, NY 10022-4834
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2023
$8,231,200
1507 South Tuttle Avenue Fl Owner L
1507 5 Tutrle Ave Re LLC
Special Warranty Deed
—
Feb 22, 2023
$8,408,000
1507 S Tuttle Ave Re LLC
Eclipse Decathlon Re Magnolia LLC
Special Warranty Deed
—
May 8, 2014
$17,013,000
Decathlon Re Magnolia Eclipse
Decathlon Re Magnolia LLC
Grant Deed
—
Oct 12, 2012
$83,188
Decathlon Re Magnolia LLC
Diamond Senior Living I LLC
Deed Of Trust
$81,525,000 · General Electric Capital Corp
Oct 13, 2006
—
Formation Properties I LLC
Formation Properties I LLC
Quit Claim Deed
—
Jan 16, 2002
—
Formation Properties II LLC
Beverly Enterprises Florida In
Grant Deed
$12,500,000 · 4f Funding INC Trustee
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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