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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Office buildings
2 Tuttle Ave Sarasota, FL 34237-6328
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-4056088
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
1956
Total area
3,641 SF
Lot
0.32 ac (14,040 SF)
Zoning code
CN
APN
2031-04-0005
UPID
US18-4056088
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
-
Health and Legal Options (HALO) Law Firm
-
Dr. Andres Abreu, DO Physician Medical Clinic
-
MRI Associates Sarasota MRI Medical Clinic
-
Hedj Engineering Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$870k
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.12M
Owner & transaction history
Lgd Properties LLC · 7 yrs held
Lgd Properties LLC
since 2019
4 recorded transactions
Zoning & alternative use
CN · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+33.0%
Medical building
$1.5M
+20.4%
Retail stores
$1.4M
+19.5%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$945,000
6.5%
$870,000
7%
$810,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,205,000
Current use
AUTO REPAIR, GARAGE
$1,600,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$1,450,000
Change: +20% · Conversion: Easy
RETAIL STORES
$1,440,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$306 / 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
$17,433
Tax year 2023
Assessed value
$1,250,400
Assessed 2023
Previous assessed
$873,600
+43.1% YoY
Effective rate
1.39%
On assessed value
Assessed land
$300,600
Assessed improvement
$949,800
Land market value
$300,600
Improvement market value
$949,800
Total market value
$1,250,400
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
PROFESSIONAL BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1956
Heating
YES
Cooling
YES
Stories
2
Rooms
10
Bathrooms
3
Total area
3,641 SF
Lot
0.32 ac (14,040 SF)
Zoning code
CN
APN
2031-04-0005
UPID
US18-4056088
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
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1956
Heating
YES
Cooling
Yes
Stories
2
Rooms
10
Bathrooms
3
Lot
0.32 ac
Current owner
From public records · entity-resolved
Lgd Properties LLC
Entity
Mailing address
556 13TH AVE NE, ST PETERSBURG, FL 33701-1309
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2019
$1,100,000
Lgd Properties LLC
K N J A LLC
Warranty Deed
—
Oct 7, 2016
—
Knja LLC
—
Deed
related
$18,083 · Whitney Bk
Jan 20, 2004
$850,000
Knja LLC
Two Tuttle INC
Warranty Deed
$926,500 · Colonial Bank
—
—
Knja LLC
—
Deed Of Trust
related
$18,083 · Whitney Bk
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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