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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1696 Lime Ave Sarasota, FL 34237-2815

    • Retail space
    • 7,808 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    $1,895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9488418
    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

    • Flooring Options By Carpet One / Flooring Store / Interior Decorator

    Property Details for 1696 Lime Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.84 lot acres
    Property size
    7,808 SF
    Zone code
    ILW
    Property type
    Retail space
    APN
    2023-03-0009
    APU
    2023030009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,035,000
      6.5%
      $1,875,000
      7%
      $1,745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,388,000
      Market price range: $597k - $1.63M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,085,000
      Current use
      MEDICAL BUILDING
      $3,105,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $2,580,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5237
    Latitude
    27.352
    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
    $20,620
    $624,100
    $977,600
    $1,601,700
    -
    $624,100
    $977,600
    $1,601,700

    Comparable in this City

    • Value Estimation
      $1,170,000
      4,845 SF

      2272 Main St

      STORE, RETAIL OUTLET • 4,845 SF
      2272 Main St, Sarasota, FL 34237-6108
      View Details
    • Value Estimation
      $850,000
      4,950 SF

      2560 12th St

      RETAIL STORES (PERSONAL SERVICES) • 4,950 SF
      2560 12th St, Sarasota, FL 34237-2943
      View Details
    • Value Estimation
      $565,000
      3,200 SF

      2183 12th St

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      2183 12th St, Sarasota, FL 34237-2704
      View Details
    • Value Estimation
      $1,215,000
      4,550 SF

      2031 13th St

      RETAIL STORES (PERSONAL SERVICES) • 4,550 SF
      2031 13th St, Sarasota, FL 34237-2705
      View Details
    • Value Estimation
      $985,000
      3,651 SF

      2490 12th St

      RETAIL STORES (PERSONAL SERVICES) • 3,651 SF
      2490 12th St, Sarasota, FL 34237-2908
      View Details
    • Value Estimation by Request
      1,500 SF

      735 Lime Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      735 Lime Ave, Sarasota, FL 34237-4406
      View Details

    Similar Nearby for Sale

    • $3,795,000
      15,714 SF

      Downtown Sarasota Commercial Building

      Renovated commercial building in downtown Sarasota with income potential.
      2070 Ringling Blvd, Sarasota, FL 34237
      View Details
    • $450,000
      9,882 SF

      Profitable Coastal Rental Business Opportunity

      Turnkey coastal rental business with immediate cash flow and growth potential.
      2239 15Th St, Sarasota, FL 34237
      View Details
    • $450,000

      Profitable Coastal Rental Business Opportunity

      Turnkey rental business with high sales and growth potential.
      2239 15Th St, State Of Florida, FL 34237
      View Details
    • $1,698,850

      Fruitville Road Sarasota Land

      Prime Sarasota land, residential zoning.
      128 Briggs Ave, Sarasota, FL 34237
      View Details
    • $2,200,000
      0.80 Acres

      Sarasota Redevelopment Opportunity

      Five-parcel assemblage for redevelopment in Sarasota's Park East neighborhood.
      2050-2026 10Th St, Sarasota, FL 34237
      View Details
    • $339,900
      1,017 SF

      Professionally Appointed Office Condo

      Office condo with reception area, offices, restroom, kitchenette, storage.
      202 N Rhodes Ave, Sarasota, FL 34237
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,500 SF

      Renovated Retail Space in Sarasota

      Retail space in Sarasota's Limelight District, renovated in 2023.
      923-929 Lime Ave, Sarasota, FL 34237
      View Details
    • $14 SF/Yr
      2,400 SF

      Retail Space in Gold Tree Plaza

      Retail space available in high-traffic Gold Tree Plaza.
      2852-2886 Ringling Blvd, Sarasota, FL 34237
      View Details
    • $17 SF/Yr
      8,120 SF

      Prime Sarasota Showroom/Retail/Industrial Space

      High-visibility location near downtown Sarasota with dock doors.
      2022 12Th St, Sarasota, FL 34237
      View Details
    • Contact for pricing
      134,805 SF

      Town & Country Plaza Retail Space

      Sarasota Shopping Center: Lease Opportunity
      501 Beneva Rd, Sarasota, FL 34237
      View Details
    • $29 SF/Yr
      19,502 SF

      Kane Plaza Office Suites

      Downtown Sarasota Office Space Available
      1 School Ave, Sarasota, FL 34237
      View Details
    • $24 SF/Yr
      33,210 SF

      Penwest Park Office Suites

      Sarasota Office Space, Flexible Sizes
      2801 Fruitville Rd, Sarasota, FL 34237
      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.
    1696 Lime Ave
    Sarasota, FL 34237-2815
    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.