Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1600 University Pkwy Sarasota, FL 34243-2245

    • Grocery and convenience stores
    • 3,532 SF
    • 1.70 lot acres
    OFF-MARKET
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3007724
    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.

    Current Use by Public Records

    • 7-Eleven / Convenience Store
    • Citibank ATM (7-Eleven) / Atm
    • Western Union / Money Transfer Service

    Property Details for 1600 University Pkwy

    Year built
    1998
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.70 lot acres
    Property size
    3,532 SF
    Zone code
    CI
    Property type
    Grocery and convenience stores
    APN
    0024-02-0005
    APU
    24020005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,143,000
      Market price range: $522k - $1.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5378
    Latitude
    27.3883
    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
    $32,368
    $1,912,500
    $777,800
    $2,690,300
    -
    $1,912,500
    $777,800
    $2,690,300

    Comparable in this City

    • Value Estimation
      $4,840,000
      4,035 SF

      8471 Lockwood Rdg Rd

      CONVENIENCE STORE • 4,035 SF
      8471 Lockwood Rdg Rd, Sarasota, FL 34243-2931
      View Details
    • Value Estimation
      $730,000
      6,765 SF

      6410 15th E St

      CONVENIENCE STORE (W/FUEL PUMP) • 6,765 SF
      6410 15th E St, Sarasota, FL 34243-3201
      View Details
    • Value Estimation
      $16,465,000
      93,076 SF

      6805 15th E St

      CONVENIENCE STORE • 93,076 SF
      6805 15th E St, Sarasota, FL 34243-3210
      View Details
    • Value Estimation
      $780,000
      1,050 SF

      6309 15th E St

      CONVENIENCE STORE • 1,050 SF
      6309 15th E St, Sarasota, FL 34243-3202
      View Details
    • Value Estimation
      $525,000
      6,330 SF

      3106 Whitfield Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 6,330 SF
      3106 Whitfield Ave, Sarasota, FL 34243-3318
      View Details
    • Value Estimation
      $965,000
      5,928 SF

      7259 Tamiami Trl

      CONVENIENCE STORE • 5,928 SF
      7259 Tamiami Trl, Sarasota, FL 34243-1404
      View Details

    Similar Nearby for Sale

    • $4,950,000
      30,000 SF

      Prime Sarasota Commercial Building

      30,000 SF building on University Parkway, ideal for investors.
      1852-1852 University Pkwy, Sarasota, FL 34243
      View Details
    • $4,250,000
      29,598 SF

      Prime Sarasota Industrial Warehouse

      29,598 SF Warehouse, $4.25M
      7176 15Th St, Sarasota, FL 34243
      View Details
    • $13,500,000

      Land at I-75 and Fruitville

      Land for commercial, industrial, multi-family, and hotel development.
      95 Cattlemen Rd, Sarasota, FL 34243
      View Details
    • $5,100,000
      4,000 SF

      Sarasota Warehouse: Prime Investment

      Vacant industrial warehouse, 4,000 sq ft, 6.43 acres.
      6445 33Rd St, Sarasota, FL 34243
      View Details
    • $5,999,990
      21,216 SF

      Industrial Property with Truck Terminal

      Industrial property featuring a 6-bay truck terminal in Sarasota.
      2415 Whitfield Industrial Way, Sarasota, FL 34243
      View Details
    • $1,200,000

      University Parkway Frontage Land

      Commercial land with frontage on University Parkway, Sarasota, Florida.
      2120 61St St, Sarasota, FL 34243
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      1,055 SF

      Retail/Office Space For Rent

      Ground floor retail/office suite with open floor plan.
      5899 Whitfield Ave, Sarasota, FL 34243
      View Details
    • $35 SF/Yr
      1,000 SF

      Retail Space in Busy Center

      Retail space for lease in a busy, established shopping center.
      2821-2875 University Pkwy, Sarasota, FL 34243
      View Details
    • $4,500 /Mo
      588 SF

      Freestanding Commercial Building Near Airport

      588 SF building on .287 acres, across from SRQ.
      7861 N Tamiami Trl, Sarasota, FL 34243
      View Details
    • Contact for pricing
      5,232 SF

      Turn-key Restaurant Opportunity

      Former Applebee's restaurant available for rent in Sarasota, Florida.
      3255 University Pkwy, Sarasota, FL 34243
      View Details
    • $27 SF/Yr
      2,681 SF

      Tamiami Trail Sarasota Office Space

      Prime Sarasota Office, 2681 sq ft
      7430 Tamiami Trl, Sarasota, FL 34243
      View Details
    • $27 SF/Yr
      2,681 SF

      Sarasota Office Space for Lease

      Prime Tamiami Trail location, 2681 sq ft.
      7430 Tamiami Trl, Sarasota, FL 34243
      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.
    1600 University Pkwy
    Sarasota, FL 34243-2245
    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.