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

    1620 Main St Ste, Unit 9 Sarasota, FL 34236-5824

    • Office Properties & Spaces
    • 924 SF
    OFF-MARKET
    Last Sale
    Jan 19, 2024
    $300,000
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    4.8%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US18-6111357
    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

    • Office Properties & Spaces

    Property Details for 1620 Main St Ste

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    924 SF
    Zone code
    DTC
    Property type
    Office Properties & Spaces
    APN
    2027-02-1009
    APU
    2027021009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $300,000
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $240,000
      6.5%
      $220,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $271,000
      Market price range: $148k - $480k

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.538
    Latitude
    27.3362
    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
    $4,274
    $0.00
    $240,200
    $240,200
    -
    $0.00
    $240,200
    $240,200

    Comparable in this City

    • Value Estimation
      $200,000
      673 SF

      46 Washington Blvd Ste 25a

      CONDOMINIUM OFFICES • 673 SF
      46 Washington Blvd Ste 25a, Sarasota, FL 34236-5928
      View Details
    • Value Estimation
      $5,315,000
      6,160 SF

      22 Links Ave, Unit 2

      CONDOMINIUM OFFICES • 6,160 SF
      22 Links Ave, Sarasota, FL 34236-5939
      View Details
    • Value Estimation
      $845,000
      1,236 SF

      1348 Fruitville Rd, Unit 311

      CONDOMINIUM OFFICES • 1,236 SF
      1348 Fruitville Rd, Sarasota, FL 34236-4953
      View Details
    • Value Estimation
      $255,000
      469 SF

      46 Washington Blvd Ste 25b

      CONDOMINIUM OFFICES • 469 SF
      46 Washington Blvd Ste 25b, Sarasota, FL 34236-5928
      View Details
    • Value Estimation
      $300,000
      645 SF

      1188 Tamiami Trlc6

      CONDOMINIUM OFFICES • 645 SF
      1188 Tamiami Trlc6, Sarasota, FL 34236-2414
      View Details
    • Value Estimation
      $400,000
      1,835 SF

      1226 Tamiami Trl21a

      CONDOMINIUM OFFICES • 1,835 SF
      1226 Tamiami Trl21a, Sarasota, FL 34236-2461
      View Details

    Similar Nearby for Sale

    • $2,799,000
      5,918 SF

      Mixed-Use Property in Downtown Sarasota

      Mixed-use property with condo, residential, and commercial zoning.
      227 Central Ave, Sarasota, FL 34236
      View Details
    • $1,650,000
      2,211 SF

      Downtown Sarasota Office Building

      Historic Charm, Prime Location, High Potential
      1215 Palm Ave, Sarasota, FL 34236
      View Details
    • Contact for pricing
      50,459 SF

      Downtown Sarasota Office Building

      Prime location, 50,459 SF, development potential
      240 Washington Blvd, Sarasota, FL 34236
      View Details
    • $1,525,000
      3,863 SF

      Sarasota Office Condo Investment

      Prime Sarasota Office, 6% Cap Rate
      505 Orange Ave, Sarasota, FL 34236
      View Details
    • $1,000,000

      Office Property on Fruitville Road

      Office property for sale in Sarasota, Florida.
      1348-1358 Fruitville Rd, Sarasota, FL 34236
      View Details
    • Contact for pricing
      18,171 SF

      Belle Haven: Sarasota Gem

      Historic building, versatile uses.
      601 Quay Cmns, Sarasota, FL 34236
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      7,445 SF

      Downtown Sarasota Office Space

      7,445 sq ft Office Suite Available
      240 Washington Blvd, Sarasota, FL 34236
      View Details
    • $23 SF/Yr
      56,000 SF

      Downtown Sarasota Office Building

      Prestigious Sarasota Office Space Available
      240 Washington Blvd, Sarasota, FL 34236
      View Details
    • $25 SF/Yr
      10,215 SF

      Downtown Sarasota Office Space

      Prime 5,000 SF Office, Ample Parking
      130 Tamiami Trl, Sarasota, FL 34236
      View Details
    • $34 SF/Yr
      139,567 SF

      Sarasota Office Tower Investment

      Class A Office Space, Downtown Sarasota
      240 Pineapple Ave, Sarasota, FL 34236
      View Details
    • $24 SF/Yr
      4,959 SF

      Downtown Sarasota Executive Suite

      Prime Office Space, Sublease Available
      1777 Main St, Sarasota, FL 34236
      View Details
    • $68 SF/Yr
      140 SF

      Downtown Sarasota Executive Suite

      Modern 140 sq ft Office, $800/month
      205 Orange Ave, Sarasota, FL 34236
      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.
    1620 Main St Ste, Unit 9
    Sarasota, FL 34236-5824
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.