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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Industrial properties
1620 Sarasota Ctr Blvd 37 Sarasota, FL 34240-7872
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8633552
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,700 SF
Zoning code
PID
APN
0209-01-1037
UPID
US18-8633552
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$532k
Blend (final)
Blend
$590k
Owner & transaction history
James C Labovites · 2 yrs held
James C Labovites
since 2024
Last sale
$590,000
2 recorded transactions
Zoning & alternative use
PID · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Home | City of Sarasota
Top alternative use upside
Auto repair, garage
$745,000
+89.6%
Medical building
$675,000
+71.6%
Retail stores
$670,000
+70.4%
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
$590,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$395,000
Current use
AUTO REPAIR, GARAGE
$745,000
Change: +90% · Conversion: Easy
MEDICAL BUILDING
$675,000
Change: +72% · Conversion: Difficult
RETAIL STORES
$670,000
Change: +70% · Conversion: Moderate
OFFICE BUILDING
$550,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $590k (Feb 1 2024)
Last sale anchor
$590k
Feb 1 2024
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
$347 / 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
$4,715
Tax year 2023
Assessed value
$382,500
Assessed 2023
Previous assessed
$382,500
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed improvement
$382,500
Improvement market value
$382,500
Total market value
$382,500
Applied tax rate
100.0000
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
WALL UNIT
Stories
1
Total area
1,700 SF
Zoning code
PID
APN
0209-01-1037
UPID
US18-8633552
Jurisdiction
SARASOTA
Zoning & alternative use
PID · Sarasota, FLZoning PID · permitted uses
PID · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$395,000
AUTO REPAIR, GARAGE
Est. value
$745,000
MEDICAL BUILDING
Est. value
$675,000
RETAIL STORES
Est. value
$670,000
OFFICE BUILDING
Est. value
$550,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
James C Labovites
Individual
Free & Clear · 2 yrs held
Mailing address
1602 PALMA SOLA BLVD, BRADENTON, FL 34209-4839
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2024
$590,000
James C Labovites
Liberty Port LLC
Warranty Deed
—
Sep 24, 2020
$359,500
Liberty Port LLC
Wb Dev 1 LLC
Grant Deed
—
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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