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    Property profile & analytics

    1958 Prospect St, Unit 100 Sarasota, FL 34239-2223

    • Office buildings
    • 3,619 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2021
    $1,202,000
    Value Estimations
    $1,295,000
    Show details
    Cap Rate Potential
    3.2%
    Office buildings
    Location Intelligence
    Property ID
    US18-3630304
    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

    • Dr. Emily Jiles Cosmetic Surgery / Physician / Medical Clinic
    • Dr. Arun Rao / Physician
    • Dr. Myrdalis Diaz - Ramirez / Medical Clinic
    • SahaVida Institute / Medical Clinic
    • Shelly Chvotzkin / Physician

    Property Details for 1958 Prospect St

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.51 lot acres
    Property size
    3,619 SF
    Zone code
    MCI
    Property type
    Office buildings
    APN
    2037-08-0038
    APU
    2037080038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,735,000
      ML approach
      $1,790,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $940,000
      6.5%
      $865,000
      7%
      $805,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $977,000
      Market price range: $384k - $978k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,800,000
      Current use
      AUTO REPAIR, GARAGE
      $1,590,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5303
    Latitude
    27.3208
    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
    $20,181
    $1,007,700
    $436,700
    $1,444,400
    -
    $1,007,700
    $436,700
    $1,444,400

    Comparable in this City

    • Value Estimation
      $800,000
      4,071 SF

      2650 Tamiami Trl

      PROFESSIONAL BUILDING • 4,071 SF
      2650 Tamiami Trl, Sarasota, FL 34239-4531
      View Details
    • Value Estimation
      $7,320,000
      44,668 SF

      2001 Siesta Dr

      OFFICE BUILDING (MULTI-STORY) • 44,668 SF
      2001 Siesta Dr, Sarasota, FL 34239-5200
      View Details
    • Value Estimation
      $990,000
      6,686 SF

      2800 Tamiami Trl

      PROFESSIONAL BUILDING • 6,686 SF
      2800 Tamiami Trl, Sarasota, FL 34239-5103
      View Details
    • Value Estimation by Request
      2,097 SF

      1404 Tuttle Ave

      OFFICE BUILDING • 2,097 SF
      1404 Tuttle Ave, Sarasota, FL 34239-2605
      View Details
    • Value Estimation
      $1,445,000
      6,066 SF

      3731 Tuttle Ave

      OFFICE BUILDING • 6,066 SF
      3731 Tuttle Ave, Sarasota, FL 34239-6410
      View Details
    • Value Estimation
      $680,000
      3,005 SF

      1838 Hillview St

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,005 SF
      1838 Hillview St, Sarasota, FL 34239-3605
      View Details

    Similar Nearby for Sale

    • $3,695,000
      7,829 SF

      7,829 SF Office Building For Sale

      7,829 SF Office Building For Sale
      1630 S Tuttle Ave, Sarasota, FL 34239
      View Details
    • $4,500,000
      20,018 SF

      Sarasota Office Building on U.S. 41

      Two-story office building with high visibility on Tamiami Trail.
      2426 S Tamiami Trl, Sarasota, FL 34239
      View Details
    • $3,600,000

      Remodeled Office Building on Bee Ridge

      Fully renovated commercial office building with high visibility on Bee Ridge.
      2030 Bee Ridge Road Ext, Sarasota, FL 34239
      View Details
    • $4,000,000

      Two-Story Building Near Sarasota Hospital

      15,047 SF building on 1.15 acres, ideal for owner-user.
      2891 S Tamiami Trl, Sarasota, FL 34239
      View Details
    • $4,200,000
      9,441 SF

      Sarasota Office Building Fronting Bee Ridge Road

      Sarasota Office Building Fronting Bee Ridge Road
      2030 Bee Ridge Road, Sarasota, FL 34239
      View Details
    • $4,500,000

      High-Visibility Professional Building in Sarasota

      Two-story building on U.S. 41 with high traffic exposure.
      2426 S Tamiami Trl, Sarasota, FL 34239
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space in Sarasota

      Medical office space on Sarasota Memorial Hospital campus for lease.
      1921 Waldemere St, Sarasota, FL 34239
      View Details
    • Contact for pricing

      Medical Office Space Available

      2,444 SF medical office space for sale or lease.
      1800 S Tuttle Ave, Sarasota, FL 34239
      View Details
    • $23 SF/Yr
      1,900 SF

      Sarasota Office Space For Rent

      Office suites available in Sarasota with ample parking.
      2000 Webber St, Sarasota, FL 34239
      View Details
    • $37 SF/Yr

      Modern Medical Building Near Hospital

      13,200 SF medical building with surgery center and office.
      2089 Hawthorne St, Sarasota, FL 34239
      View Details
    • $32 SF/Yr
      8,352 SF

      Sarasota Medical Office Space Available

      Medical office suites for lease near Sarasota Memorial Hospital.
      1945 Versailles St, Sarasota, FL 34239
      View Details
    • $29 SF/Yr

      Sarasota Office Space For Rent

      Office spaces in prime location near Sarasota Memorial Hospital.
      2700 South Tamiami Trl, Sarasota, FL 34239
      View Details
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    Sarasota, FL 34239-2223
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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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