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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Office buildings
1717 2nd St Sarasota, FL 34236-8552
Trust Owned
Free & Clear
Property ID
US18-5019189
Property summary
AI-generated overview
This exceptional 1,674 square foot office suite, located at 1717 2nd St in Sarasota, FL 34236, is situated in the heart of the city's downtown core (DTC). Part of the Sugar Suites complex, this single-tenant space is ideal for a small professional business. The unit, which comprises a combined upstairs unit G/H, boasts five individual offices and two bathrooms, providing ample space for a variety of needs. A small kitchen area adds convenience. Significant renovations were completed in 2021, ensuring a modern and updated workspace. The building itself is a two-story Class B structure, built in 1984, offering a total of 6,690 square feet on a 9,936 square foot lot. Four assigned parking spaces are included, a valuable asset in a bustling downtown location. The property is zoned for DTC Downtown Core use. This move-in ready suite presents a fantastic opportunity for a business seeking a well-appointed and conveniently located office space in the vibrant city of Sarasota.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,345 SF
Lot
0.23 ac (9,930 SF)
Zoning code
DTC
APN
2026-15-0076
UPID
US18-5019189
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
-
WebFab LLC (Bike/Boat/Book/etc) Store Corporate Office
-
The Molinari Law Firm, P.A. Law Firm
-
SRQ Trolley of Sarasota Freight Service Logistics Company
-
The Marketing Group Advertising Agency Marketing & Advertising
-
Omen Interactive Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$1.90M
Owner & transaction history
Horner Family Living Trust
Horner Family Living Trust
since 2025
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.7M
+25.3%
Neighborhood: shopping center
$2.3M
+11.0%
Commercial (general)
$2.3M
+10.2%
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
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,115,000
Current use
RETAIL STORES
$2,650,000
Change: +25% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,345,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,330,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Jun 3 2024)
Last sale anchor
$1.90M
Jun 3 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
$568 / 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
$21,178
Tax year 2023
Assessed value
$1,524,600
Assessed 2023
Previous assessed
$1,524,600
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,019,500
Assessed improvement
$505,100
Land market value
$1,019,500
Improvement market value
$505,100
Total market value
$1,524,600
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
8
Bathrooms
8
Total area
3,345 SF
Lot
0.23 ac (9,930 SF)
Zoning code
DTC
APN
2026-15-0076
UPID
US18-5019189
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.1M
RETAIL STORES
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
8
Bathrooms
8
Lot
0.23 ac
Current owner
From public records · entity-resolved
Horner Family Living Trust
Trust
Free & Clear · 0 yrs held
Mailing address
4305 5TH AVE NE, BRADENTON, FL 34208-5095
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2025
—
Horner Family Living Trust
Michael B Horner
Deed
related
—
Jun 3, 2024
$1,900,000
Michael B Horner
1717 2nd Street LLC
Warranty Deed
—
Mar 29, 2019
$1,250,000
1717 2nd Street LLC
Keefe C Fugleberg
Warranty Deed
$975,000 · First Home Bank
Jan 14, 2019
$910,000
Keefe C Fugleberg
Cicero,lisa B
Warranty Deed
—
Nov 13, 2018
$290,000
Jesse Balaity
Corace,robert M
Warranty 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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