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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Drive through restaurants
1601 Tamiami Trl Sarasota, FL 34239-2906
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4468292
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,379 SF
Lot
0.54 ac (23,567 SF)
Zoning code
CG
APN
2035-12-0022
UPID
US18-4468292
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$2.15M
Owner & transaction history
Lancer Group LLC · 21 yrs held
Lancer Group LLC
since 2005
Last sale
$2.2M
4 recorded transactions
Zoning & alternative use
CG · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent and purpose of the CG district is to permit medium scale commercial facilities and to facilitate their proper development and use
Zone name
Commercial General
General category
COMMERCIAL
Zone area
54.76 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$1.7M
+13.1%
Commercial (general)
$1.7M
+12.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,475,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,670,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,660,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10% · vs last sale $2.15M (Jun 19 2025)
Last sale anchor
$2.15M
Jun 19 2025
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
$902 / 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
$20,801
Tax year 2023
Assessed value
$1,395,300
Assessed 2023
Previous assessed
$1,395,300
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$1,223,200
Assessed improvement
$172,100
Land market value
$1,223,200
Improvement market value
$172,100
Total market value
$1,395,300
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
3
Bathrooms
2
Total area
2,379 SF
Lot
0.54 ac (23,567 SF)
Zoning code
CG
APN
2035-12-0022
UPID
US18-4468292
Jurisdiction
SARASOTA
Zoning & alternative use
CG · Sarasota, FLZoning CG · permitted uses
CG · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent and purpose of the CG district is to permit medium scale commercial facilities and to facilitate their proper development and use
Zone name
Commercial General
General category
COMMERCIAL
Zone area
54.76 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
3
Bathrooms
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
Lancer Group LLC
Entity
Mailing address
330 S PINEAPPLE AVE STE #106, SARASOTA, FL 34236-7020
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2005
$547,500
Lancer Group LLC
First Choice Construction INC
Warranty Deed
$643,860 · Century Bank Fsb
Jan 13, 2000
$355,000
Lalinda Terrace Partnership
Hanshaw,george H
Grant Deed
—
—
—
Lancer Group LLC
—
Deed Of Trust
related
$3,600,000 · M & I Bank Fsb
—
—
Lancer Group LLC
—
Deed Of Trust
related
$600,000 · M & I Bank Fsb
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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