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Property profile & analytics
OFF-MARKET
Estimated value
$12,930,000
Grocery and convenience stores
2031 Bay St, Sarasota, FL 34237-7914
Individually Owned
15-yr Hold
Free & Clear
Property ID
US18-1876916
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
49,609 SF
Lot
2.95 ac (128,489 SF)
Zoning code
CI
APN
2034-05-0045
UPID
US18-1876916
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
-
higi Medical Clinic
-
Presto! ATM at Publix Super Market Atm
-
City National Bank - Presto ATM Atm
-
Western Union Bank Credit Union
-
Melissa Kokowicz Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.93M
Comparable Approach
Comparable
$10.33M
Blend (final)
Blend
$12.93M
Owner & transaction history
State Of Florida Depttrustansportat · 15 yrs held
State Of Florida Depttrustansportat
since 2011
2 recorded transactions
Zoning & alternative use
CI · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$19.7M
+0.7%
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%
$12,920,000
6.5%
$11,925,000
7%
$11,075,000
Alternative Use
Use
Estimation
RETAIL STORES
$19,585,000
Current use
MEDICAL BUILDING
$19,725,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$16,385,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$12.93M
Range $11.64M – $14.22M · ±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
$261 / 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
$203,076
Tax year 2023
Assessed value
$12,019,100
Assessed 2023
Previous assessed
$11,799,700
+1.9% YoY
Effective rate
1.69%
On assessed value
Assessed land
$2,570,700
Assessed improvement
$9,448,400
Land market value
$2,570,700
Improvement market value
$9,448,400
Total market value
$12,019,100
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
79
Bathrooms
8
Total area
49,609 SF
Lot
2.95 ac (128,489 SF)
Zoning code
CI
APN
2034-05-0045
UPID
US18-1876916
Jurisdiction
SARASOTA
Zoning & alternative use
CI · Sarasota, FL
Zoning CI · permitted uses
CI · 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
RETAIL STORES Current
Est. value
$19.6M
MEDICAL BUILDING
Est. value
$19.7M
OFFICE BUILDING
Est. value
$16.4M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
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
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
79
Bathrooms
8
Lot
2.95 ac
Current owner
From public records · entity-resolved
State Of Florida Depttrustansportat
Individual
Free & Clear · 15 yrs held
Mailing address
PO BOX 32018, LAKELAND, FL 33802-2018
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2011
—
State Of Florida Depttrustansportat
Publix Super Markets INC
Warranty Deed
related
—
Aug 31, 2009
$6,300,000
Publix Super Markets INC
New York Times
Grant Deed
—
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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