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

    1627 Washington Blvd Sarasota, FL 34236-2724

    • Drive through restaurants
    • 2,287 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Jul 27, 2020
    $2,500,000
    Value Estimations
    $4,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3961008
    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

    • Wendy's / Fast Food Restaurant / Hamburger Restaurant

    Property Details for 1627 Washington Blvd

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.74 lot acres
    Property size
    2,287 SF
    Zone code
    ICD
    Property type
    Drive through restaurants
    APN
    2025-01-0005
    APU
    2025010005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,110,000
      ML approach
      $4,040,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5309
    Latitude
    27.3519
    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
    $19,140
    $700,900
    $518,500
    $1,219,400
    -
    $700,900
    $518,500
    $1,219,400

    Comparable in this City

    • Value Estimation
      $545,000
      3,079 SF

      855 Tamiami Trl

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,079 SF
      855 Tamiami Trl, Sarasota, FL 34236-7824
      View Details
    • Value Estimation
      $2,205,000
      2,326 SF

      820 Washington Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,326 SF
      820 Washington Blvd, Sarasota, FL 34236-4246
      View Details
    • Value Estimation
      $350,000
      524 SF

      14 Orange Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 524 SF
      14 Orange Ave, Sarasota, FL 34236-5805
      View Details
    • Value Estimation
      $735,000
      3,800 SF

      787 Washington Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,800 SF
      787 Washington Blvd, Sarasota, FL 34236-7835
      View Details
    • Value Estimation
      $545,000
      2,556 SF

      918 Washington Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,556 SF
      918 Washington Blvd, Sarasota, FL 34236-4248
      View Details
    • Value Estimation
      $975,000
      6,925 SF

      330 John Ringling Blvd

      RESTAURANT • 6,925 SF
      330 John Ringling Blvd, Sarasota, FL 34236-1321
      View Details

    Similar Nearby for Sale

    • $3,901,000
      2,330 SF

      Popeyes Sarasota NNN Lease

      High-return QSR investment, Florida.
      820 Washington Blvd, 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
    • Contact for pricing
      240,297 SF

      Value-Add Opportunity with Parking

      Property in high-growth area with integrated parking structure.
      1800-1800 2Nd St, Sarasota, FL 34236
      View Details
    • $1,600,000
      2,010 SF

      Downtown Sarasota Modern Retail Space

      Modern retail space in downtown Sarasota with state-of-the-art facilities.
      99 South Pineapple Ave, Sarasota, FL 34236
      View Details
    • $5,990,000
      1.42 Acres

      Sarasota Shovel-Ready Luxury Development Land

      Buildable parcel in Rosemary District with approved mixed-use development plans.
      1625 4Th St, Sarasota, FL 34236
      View Details
    • Contact for pricing
      104,506 SF

      Downtown Sarasota Storefront

      3.25-acre redevelopment opportunity
      1993 Main St, Sarasota, FL 34236
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      2,800 SF

      Turnkey Restaurant Space Near Downtown

      Ready-to-operate restaurant space with hood, grease trap, and ample seating.
      402 N Washington Blvd, Sarasota, FL 34236
      View Details
    • $35 SF/Yr
      3,372 SF

      Prime Retail Space Available

      High-visibility retail space ideal for restaurants or boutique retail.
      535 S Washington Blvd, Sarasota, FL 34236
      View Details
    • $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
    • $39 SF/Yr
      1,350 SF

      Downtown Retail Space in Sarasota

      Retail space in a prime downtown location, move-in ready.
      1235-1239 N Gulfstream Ave, Sarasota, FL 34236
      View Details
    • $45 SF/Yr
      4,740 SF

      St. Armands Key Retail Opportunity

      Prime Sarasota storefront, 1,390 SF available
      28 Boulevard Of The Presidents, Sarasota, FL 34236
      View Details
    • Contact for pricing
      3,099 SF

      Retail Space in Sarasota Row

      Mixed-use complex near downtown Sarasota and the Farmer’s Market.
      1451 1St St, 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.
    1627 Washington Blvd
    Sarasota, FL 34236-2724
    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.