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

    2023 Constitution Blvd Sarasota, FL 34231-4108

    • Office buildings
    • 1,500 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    6.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-4169750
    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

    • Buckman & Buckman Estate Planning Lawyers / Estate Planning Attorney
    • Buckman and Buckman Accident & Injury Lawyers / Personal Injury Attorney

    Property Details for 2023 Constitution Blvd

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    1,500 SF
    Zone code
    CN
    Property type
    Office buildings
    APN
    0086-13-0016
    APU
    86130016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $390,000
      6.5%
      $360,000
      7%
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $547,000
      Market price range: $239k - $547k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $465,000
      Current use
      MEDICAL BUILDING
      $595,000
      Change: +28% Conversion: Easy
      RETAIL STORES
      $525,000
      Change: +12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5298
    Latitude
    27.2703
    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
    $5,453
    $245,600
    $172,100
    $417,700
    -
    $245,600
    $172,100
    $417,700

    Comparable in this City

    • Value Estimation
      $385,000
      2,923 SF

      7165 Curtiss Ave

      OFFICE BUILDING (MULTI-STORY) • 2,923 SF
      7165 Curtiss Ave, Sarasota, FL 34231-8012
      View Details
    • Value Estimation
      $565,000
      2,610 SF

      2221 Stickney Pt Rd

      PROFESSIONAL BUILDING • 2,610 SF
      2221 Stickney Pt Rd, Sarasota, FL 34231-4014
      View Details
    • Value Estimation
      $555,000
      4,963 SF

      1715 Stickney Pt Rd

      PROFESSIONAL BUILDING (MULTI-STORY) • 4,963 SF
      1715 Stickney Pt Rd, Sarasota, FL 34231-8869
      View Details
    • Value Estimation
      $455,000
      4,534 SF

      1662 Stickney Pt Rd

      OFFICE BUILDING (MULTI-STORY) • 4,534 SF
      1662 Stickney Pt Rd, Sarasota, FL 34231-3703
      View Details
    • Value Estimation
      $1,015,000
      8,161 SF

      4370 Tamiami Trl

      OFFICE BUILDING (MULTI-STORY) • 8,161 SF
      4370 Tamiami Trl, Sarasota, FL 34231-3412
      View Details
    • Value Estimation
      $1,000,000
      2,290 SF

      2864 Clark Rd

      PROFESSIONAL BUILDING • 2,290 SF
      2864 Clark Rd, Sarasota, FL 34231-6220
      View Details

    Similar Nearby for Sale

    • $549,000
      2,268 SF

      Professional Office Park Condominium

      Divisible commercial condominium in a professional office park setting.
      7085-7085 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • $315,000
      1,410 SF

      Renovated Office Condo Near Marina

      Newly renovated 1,410 SF office condo near retail and dining.
      7737 Holiday Dr, Sarasota, FL 34231
      View Details
    • $1,129,000
      3,014 SF

      Versatile Flex Space in Sarasota

      Adaptable commercial property with office, retail, and storage capabilities.
      2072 Constitution Blvd, Sarasota, FL 34231
      View Details
    • $2,200,000
      7,780 SF

      Sarasota Office Building - Prime Location

      Versatile Medical/Office Building, 7,780 sqft
      7157 Curtiss Ave, Sarasota, FL 34231
      View Details
    • $415,000
      1,200 SF

      Sarasota Office Park Investment Opportunity

      Office park unit near Siesta Key, leased through May 2026.
      2477 Stickney Point Rd, Sarasota, FL 34231
      View Details
    • $899,000

      Turnkey Urgent Care Facility

      Established medical practice and real estate for sale on Tamiami Trail.
      7013 S Tamiami Trl, Sarasota, FL 34231
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      7,408 SF

      Clark Road Office Building For Rent

      Single-story office building with frontage on Clark Road.
      3355 Clark Rd, Sarasota, FL 34231
      View Details
    • $6,200 /Mo
      2,805 SF

      Freestanding Office Building on US-41

      Office building with frontage on US-41 and flexible layout.
      3942 N Tamiami Trl, Sarasota, FL 34231
      View Details
    • $4,500 /Mo
      3,589 SF

      Freestanding Commercial Building in Sarasota

      3,589 SF freestanding commercial building in Sarasota's Gulf Gate.
      2011 Bispham Rd, Sarasota, FL 34231
      View Details
    • $17 SF/Yr
      14,386 SF

      Gulf Gate Office Suites Available

      Prime Sarasota Office Space, Flexible Sizes
      3231 Gulf Gate Dr, Sarasota, FL 34231
      View Details
    • $3,000 /Mo
      1,000 SF

      Retail Space in Golf Gate

      Standalone building in Sarasota's Golf Gate with high visibility.
      6455 Gateway Ave, Sarasota, FL 34231
      View Details
    • $32 SF/Yr
      1,400 SF

      Sarasota Retail Space for Lease

      Prime Sarasota retail/office space available.
      1508 Stickney Point Rd, Sarasota, FL 34231
      View Details
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    Sarasota, FL 34231-4108
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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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