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

    1877 Northgate Blvd Sarasota, FL 34234

    • Office buildings
    • 4,275 SF
    • 0.61 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Last Sale
    Nov 25, 2020
    $725,000
    Value Estimations
    $1,225,000
    Cap Rate Potential
    5.6%
    Office buildings
    Location Intelligence
    Property ID
    US18-1430564
    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

    • The Residences At University Groves Association, Inc. / Non-Profit Organization
    • Chapman & Associates Inc / Estate Appraiser
    • Premium Resource Management / Real Estate Agency
    • Fiberlay, Inc - Corporate Headquarters / Fiberglass Supplier / Industrial Chemicals Wholesaler
    • Nationwide Expos / Marketing Consultant

    Property Details for 1877 Northgate Blvd

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.61 lot acres
    Property size
    4,275 SF
    Zone code
    CI
    Property type
    Office buildings
    APN
    0026-01-0016
    APU
    26010016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,190,000
      ML approach
      $1,175,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,110,000
      6.5%
      $1,025,000
      7%
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,615,000
      Market price range: $1.10M - $2.73M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,755,000
      Current use
      AUTO REPAIR, GARAGE
      $1,880,000
      Change: +7% Conversion: Difficult
      MEDICAL BUILDING
      $1,700,000
      Change: -3% Conversion: Easy
      RETAIL STORES
      $1,690,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5332
    Latitude
    27.3725
    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
    $11,323
    $220,400
    $571,400
    $791,800
    -
    $220,400
    $571,400
    $791,800

    Comparable in this City

    • Value Estimation
      $1,600,000
      5,020 SF

      5001 Washington Blvd

      OFFICE BUILDING • 5,020 SF
      5001 Washington Blvd, Sarasota, FL 34234-4128
      View Details
    • Value Estimation
      $335,000
      1,451 SF

      2452 19th St

      OFFICE BUILDING (MULTI-STORY) • 1,451 SF
      2452 19th St, Sarasota, FL 34234-1910
      View Details
    • Value Estimation
      $400,000
      1,200 SF

      4123 Lockwood Rdg Rd

      OFFICE BUILDING • 1,200 SF
      4123 Lockwood Rdg Rd, Sarasota, FL 34234-5558
      View Details
    • Value Estimation
      $825,000
      10,188 SF

      3990 Lockwood Rdg Rd

      PROFESSIONAL BUILDING • 10,188 SF
      3990 Lockwood Rdg Rd, Sarasota, FL 34234
      View Details
    • Value Estimation
      $410,000
      5,888 SF

      2706 Osprey Ave

      PROFESSIONAL BUILDING • 5,888 SF
      2706 Osprey Ave, Sarasota, FL 34234-2533
      View Details
    • Value Estimation
      $1,255,000
      6,178 SF

      1859 Northgate Blvd

      OFFICE BUILDING • 6,178 SF
      1859 Northgate Blvd, Sarasota, FL 34234-2120
      View Details

    Similar Nearby for Sale

    • $2,700,000

      Sarasota Office Building For Sale

      16,278 RSF office building with income and oversized parking.
      5104 N Lockwood Ridge Rd, Sarasota, FL 34234
      View Details
    • $3,850,000
      13,942 SF

      Sarasota Mixed-Use Opportunity

      Prime Tamiami Trail location, 13,942 SF building, 2+ acres
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • $2,799,000
      9,697 SF

      Industrial Building with Showroom/Office Space

      Free-standing industrial building with showroom and office space for sale.
      4444 N Washington Blvd, Sarasota, FL 34234
      View Details
    • $3,600,000

      Sarasota Development Land

      36-Unit Apartment Project, Permits Pending
      1715 Tamiami Trl, Sarasota, FL 34234
      View Details
    • $1,200,000
      1,520 SF

      Sarasota Multi-Family Investment Opportunity

      High-density potential, two-property bulk sale.
      916 46Th St, Sarasota, FL 34234
      View Details
    • $361,800
      1,272 SF

      Single-Family Home with Business Potential

      Single-family home rebuilt in 2004 with potential for business use.
      4010 N Lockwood Ridge Rd, Sarasota, FL 34234
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      13,942 SF

      Sarasota Commercial Building

      13,942 SF Freestanding Retail Space
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • $26 SF/Yr
      6,689 SF

      Downtown Sarasota Office Space

      Prime location, high visibility, 6,689 sq ft.
      244 Washington Blvd, Sarasota, FL 34234
      View Details
    • $24 SF/Yr
      1,934 SF

      Sarasota Office Space For Rent

      Office space available for lease in Sarasota, Florida.
      1877 Northgate Blvd, Sarasota, FL 34234
      View Details
    • $20 SF/Yr
      1,309 SF

      Office Space on Tamiami Trail

      Small office suite with visibility on S. Tamiami Trail.
      2501 S Tamiami Trl, Sarasota, FL 34234
      View Details
    • $16 SF/Yr
      3,000 SF

      Air Conditioned Flex Space Available

      3000 SF flex space with warehouse and office/showroom.
      4557 Northgate Ct, Sarasota, FL 34234
      View Details
    • $1,699,000
      3,223 SF

      Two-Story Medical Office Building

      3,223 SF medical office near Sarasota Memorial Hospital.
      2901 S Tamiami Trl, Sarasota, FL 34234
      View Details
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    Sarasota, FL 34234
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    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
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