Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1616 Walnut St Palmetto, FL 34221
    Back to Search
    Property profile & analytics

    1616 Walnut St, Palmetto, FL 34221

    View on Map
    • Industrial land
    • 0.86 lot acres
    Off-Market
    Property ID
    US18-3791842
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial land

    Property Details for 1616 Walnut St

    Lot size
    0.86 lot acres
    Zone code
    HM,LM
    Property type
    Industrial land
    APN
    10060.0005-9
    APU
    1006000059

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 1, 2019 $100 Walnut 1616 LLC Hernandez,andrew Quit Claim Deed · related —
    Apr 17, 2017 $3,000 Andrew Hernandez Baggiano,joseph & Patricia Warranty Deed · related —
    Dec 15, 2010 $2,500 Baggiano,joseph & Patricia Sutherland,floy Warranty Deed —
    Dec 15, 2008 — Sutherland,floy — Loan Modification · related $15k · Jsc Property Dev LLC
    Oct 2, 2007 $20,000 Sutherland,floy Cummings,margie Warranty Deed $15k · James Ellis

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmetto
    County
    Manatee
    State
    Florida
    Longitude
    -82.5474
    Latitude
    27.5281
    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
    $448
    $31,875
    $0.00
    $31,875
    -
    $31,875
    $0.00
    $31,875

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      1703 Walnut St

      INDUSTRIAL - VACANT LAND
      1703 Walnut St, Palmetto, FL 34221
      View Details
    • Value Estimation by Request
      0.13 Acres

      1715 Oakwood Ave

      INDUSTRIAL - VACANT LAND
      1715 Oakwood Ave, Palmetto, FL 34221
      View Details
    • Value Estimation by Request
      0.13 Acres

      1612 Walnut St

      INDUSTRIAL - VACANT LAND
      1612 Walnut St, Palmetto, FL 34221
      View Details
    • Value Estimation by Request
      0.13 Acres

      1623 Oakwood Ave

      INDUSTRIAL - VACANT LAND
      1623 Oakwood Ave, Palmetto, FL 34221
      View Details
    • Value Estimation by Request
      0.11 Acres

      1720 Oakwood Ave

      INDUSTRIAL - VACANT LAND
      1720 Oakwood Ave, Palmetto, FL 34221
      View Details
    • Value Estimation by Request
      0.13 Acres

      1708 Walnut St

      INDUSTRIAL - VACANT LAND
      1708 Walnut St, Palmetto, FL 34221
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,443 SF

      Palmetto 52-Acre Assemblage Opportunity

      52 acres with buildings, prime location, development potential.
      1321 77Th St E, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Palmetto Industrial Outdoor Space

      1.76-acre industrial land parcel in Palmetto, Florida.
      Us Highway 41 N, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Palmetto Land Near Port Manatee

      17.42 acres near Port Manatee, ideal for commercial or industrial.
      12000 Us Highway 41 N, Palmetto, FL 34221
      View Details
    • $3,499,000
      7.61 Acres

      Prime Commercial Land Near I-275

      7.61 acres of commercial land with frontage on US Hwy 41N.
      7219 Us Highway 41, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Palmetto Land Near Port Manatee

      14+/- acre land parcel near I-275 and Port Manatee.
      10015 Us Highway 41 N, Palmetto, FL 34221
      View Details
    • $10,900,000

      Port-Adjacent Industrial Expansion Opportunity

      Industrial property near SeaPort Manatee with expansion potential.
      2105 South Dock St, Palmetto, FL 34221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Palmetto Industrial Land with Canopy

      Industrial land with canopy and modular office for lease.
      1908 13Th St E, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Corner Parcel Near Future Grocer

      Commercial land for rent near major roads and future development.
      9620 36Th Ave E, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Office Suite on 49th Street

      450 SF office suite with frontage on 49th Street.
      818 49Th St East, Palmetto, FL 34221
      View Details
    • Contact for pricing
      2,240 SF

      Retail Space Available for Lease

      Retail/office space available for lease with great signage.
      937 10Th St E, Palmetto, FL 34221
      View Details
    • Contact for pricing
      2,640 SF

      Stand Alone Building For Lease

      Stand-alone building suitable for office, medical, or retail use.
      1331 10Th St E, Palmetto, FL 34221
      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.
    1616 Walnut St
    Palmetto, FL 34221
    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

    Thank You for Inquiry
    1616 Walnut St, Palmetto, FL, 34221
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!