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Property profile & analytics
OFF-MARKET
Estimated value
$7,120,000
Strip malls
1890 Stickney Pt Rd, Sarasota, FL 34231
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2420370
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,010 SF
Lot
2.95 ac (128,452 SF)
Zoning code
CN
APN
0104-06-0043
UPID
US18-2420370
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.88M
CAP Approach
CAP
$4.63M
Comparable Approach
Comparable
$4.65M
Blend (final)
Blend
$7.12M
Owner & transaction history
Gracen Associates LLC · 5 yrs held
Gracen Associates LLC
since 2021
Last sale
$6.8M
7 recorded transactions
Zoning & alternative use
CN · 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
$9,875,000
ML approach
$9,880,000
CAP Approach
CAP Return
Estimation
6%
$5,015,000
6.5%
$4,630,000
7%
$4,300,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,850,000
Change: -1% · Conversion: Easy
RESTAURANT
$10,550,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$7.12M
Range $6.41M – $7.83M · ±10% · vs last sale $6.84M (Jun 1 2021)
Last sale anchor
$6.84M
Jun 1 2021
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
$419 / 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
$75,036
Tax year 2023
Assessed value
$5,850,500
Assessed 2023
Previous assessed
$5,732,500
+2.1% YoY
Effective rate
1.28%
On assessed value
Assessed land
$2,850,400
Assessed improvement
$3,000,100
Land market value
$2,850,400
Improvement market value
$3,000,100
Total market value
$5,850,500
Applied tax rate
100.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
17,010 SF
Lot
2.95 ac (128,452 SF)
Zoning code
CN
APN
0104-06-0043
UPID
US18-2420370
Jurisdiction
SARASOTA
Zoning & alternative use
CN · Sarasota, FL
Zoning CN · permitted uses
CN · 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
COMMERCIAL (GENERAL)
Est. value
$11.9M
RESTAURANT
Est. value
$10.6M
COMMERCIAL (GENERAL)
RESTAURANT
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.95 ac
Current owner
From public records · entity-resolved
Gracen Associates LLC
Entity
Mailing address
1500 CARIBBEAN DR, SARASOTA, FL 34231-5304
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2021
$6,840,000
Gracen Associates LLC
Sarall Ltd
Warranty Deed
—
Feb 14, 2014
$5,400,000
Sarall Ltd
Saba Empire LLC
Warranty Deed
$2,526,796 · Symetra Life Insurance Co
Nov 21, 2008
$4,500,000
Saba Empire LLC
1870-1894 Stickney Pt Road Hol
Grant Deed
—
Sep 16, 2008
$4,510,000
Stickney Pt Road Hol 1870-1894
Vh Holdings LLC Coc
Trustees Deed
—
Dec 7, 2006
$6,875,000
Vh Holdings LLC
Chester Hull LLC
Special Warranty Deed
$5,300,000 · Countrywide Cmrcl Real Estate Fin I
Dec 16, 2003
—
Chester Hull LLC
Rasmussen,wayne
Grant Deed
related
—
Jul 2, 2002
$2,000,000
Chester Hull LLC
Stickney Development LLC
Grant Deed
$1,600,000 · Bank Of Commerce
—
—
Saba Empire LLC
—
Deed Of Trust
related
$2,400,000 · Symetra Life Insurance Co
—
—
Saba Empire LLC
—
Deed Of Trust
related
$2,650,000 · Symetra Life Insurance Co
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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