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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Banks
1990 Fruitville Rd Sarasota, FL 34236-4260
Entity Owned
13-yr Hold
Free & Clear
Property ID
US18-3917255
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,164 SF
Lot
1.17 ac (51,141 SF)
Zoning code
DTC
APN
2027-01-0003
UPID
US18-3917255
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
-
Bank of America ATM (Drive-thru) Atm Financial Consultant
-
Mortgage, Bank of America Loan Service Bank
-
Bank of America (with Drive-thru ATM) Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$935k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$972k
Blend (final)
Blend
$955k
Owner & transaction history
Freedom Sarasota LLC · 13 yrs held
Freedom Sarasota LLC
since 2013
3 recorded transactions
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
screening between registered vacation rentals and single family uses; modify the definition for restaurants and add language to facilitate outdoor restaurants and seating; permit mobile food trucks as a permitted use in DTC zone district and simplify approval process, and make minor text revisions to site plan criteria, site plans in the downtown, and condit…
Zone name
Downtown Core
General category
MIXED_USE
Zone area
248.50 ac
Source
Home | City of Sarasota
Top alternative use upside
Medical building
$1.5M
+102.2%
Restaurant
$1.3M
+74.1%
Industrial (general)
$815,000
+8.1%
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
by Request
ML approach
$935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$755,000
Current use
MEDICAL BUILDING
$1,525,000
Change: +102% · Conversion: Difficult
RESTAURANT
$1,310,000
Change: +74% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$815,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$730,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±10%
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
$185 / 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
$66,303
Tax year 2023
Assessed value
$4,326,600
Assessed 2023
Previous assessed
$4,580,500
-5.5% YoY
Effective rate
1.53%
On assessed value
Assessed land
$3,796,300
Assessed improvement
$530,300
Land market value
$3,796,300
Improvement market value
$530,300
Total market value
$4,326,600
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
5,164 SF
Lot
1.17 ac (51,141 SF)
Zoning code
DTC
APN
2027-01-0003
UPID
US18-3917255
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FLZoning DTC · permitted uses
DTC · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
screening between registered vacation rentals and single family uses; modify the definition for restaurants and add language to facilitate outdoor restaurants and seating; permit mobile food trucks as a permitted use in DTC zone district and simplify approval process, and make minor text revisions to site plan criteria, site plans in the downtown, and conditional use criteria. 22-5414 (PDF, 6MB) 22-5415 Primary Grid Streets (22-ZTA-02) - A
Zone name
Downtown Core
General category
MIXED_USE
Zone area
248.50 ac
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$755,000
MEDICAL BUILDING
Est. value
$1.5M
RESTAURANT
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$730,000
FINANCIAL BUILDING Current
MEDICAL BUILDING
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.17 ac
Current owner
From public records · entity-resolved
Freedom Sarasota LLC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 32547, CHARLOTTE, NC 28232-2547
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2013
$3,900,000
Freedom Sarasota LLC
Theatre Associates II Lllp
Grant Deed
—
May 23, 2013
$4,450,000
Lincoln Pk Partners LLC
Theatre Associates II Lllp
Grant Deed
$4,985,000 · Rga Reinsurance Co
—
—
Lincoln Pk Partners LLC
—
Deed Of Trust
related
$3,700,000 · Centerstate Bk NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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