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Property profile & analytics
OFF-MARKET
Estimated value
$5,825,000
Turn key restaurants
1703 Main St Sarasota, FL 34236-5812
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-3124451
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,378 SF
Lot
0.43 ac (18,744 SF)
Zoning code
DTC
APN
2027-02-0013
UPID
US18-3124451
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
Current use
Occupant on record · Public records
-
IL Panificio Pizzeria Downtown Restaurant
-
Sota Residences & Hotel Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.83M
Owner & transaction history
Hospitality Group Sarasota Portfoli · 4 yrs held
Hospitality Group Sarasota Portfoli
since 2022
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$6,665,000
ML approach
$6,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.83M
Range $5.24M – $6.41M · ±10% · vs last sale $5.00M (Mar 31 2022)
Last sale anchor
$5.00M
Mar 31 2022
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
$4,227 / 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
$60,922
Tax year 2023
Assessed value
$4,045,000
Assessed 2023
Previous assessed
$1,319,200
+206.6% YoY
Effective rate
1.51%
On assessed value
Assessed land
$4,045,000
Land market value
$4,045,000
Total market value
$4,045,000
Applied tax rate
200.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Rooms
5
Bathrooms
2
Total area
1,378 SF
Lot
0.43 ac (18,744 SF)
Zoning code
DTC
APN
2027-02-0013
UPID
US18-3124451
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FL
Zoning DTC · permitted uses
DTC · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sarasota. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Rooms
5
Bathrooms
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Hospitality Group Sarasota Portfoli
Entity
Free & Clear · 4 yrs held
Mailing address
100 E RIVERCENTER BLVD STE #1050, COVINGTON, KY 41011-1548
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2025
—
Melone Family Lllp
—
Deed
related
$750,000 · Eb Nick Loc LLC
Jun 10, 2025
—
Hospitality Group Sarasota Portfoli
—
Deed
related
$5,000,000 · Sota Investments LLC
Apr 25, 2024
—
The Hospitality Group - Sarasota Po
—
Deed
related
$10,000,000 · Ncn Realty LLC
Jun 6, 2023
—
Sarasota Portfolio V LLC
—
Deed
related
$2,500,000 · Sabrinka LLC
Apr 13, 2023
—
Hospitality Group Sarasota Portfoli
—
Deed
related
$550,000 · J Matthew Stephens
Mar 31, 2022
$5,000,000
Hospitality Group Sarasota Portfoli
Ncn Realty LLC
Warranty Deed
—
Oct 13, 2011
—
Panificio South LLC
—
Deed Of Trust
related
$1,685,000 · Witzer Stephen A (te)
Aug 18, 2009
—
Avenida Debahia LLC
—
Trustees Deed
related
$375,000 · Witzer Stephen A (te)
Jun 26, 2003
—
Ncn Realty LLC
Melone,tracy
Quit Claim Deed
related
$50,000 · Northern Trust Bank Of Florida
Jan 22, 2002
$578,900
Ncn Realty LLC
Ncn Bakery INC
Quit Claim Deed
related
—
—
—
Panificio South LLC
—
Deed Of Trust
related
$375,000 · Witzer Stephen A (te)
—
—
Ncn Realty LLC
—
Deed Of Trust
related
$100,000 · Northern Trust Bank Of Florida
—
—
Nicholas Melone
—
Deed Of Trust
related
$300,000 · Witzer Stephen A (te)
—
—
Avenida Debahia LLC
—
Deed Of Trust
related
—
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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