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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Manufacturing properties
2135 Princeton St Sarasota, FL 34237-3436
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-1915506
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1966
Total area
3,000 SF
Lot
0.24 ac (10,500 SF)
Zoning code
IGD
APN
2023-12-0130
UPID
US18-1915506
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
-
Ball Construction Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$530k
Comparable Approach
Comparable
$904k
Blend (final)
Blend
$810k
Owner & transaction history
Luzier Boat Shop LLC · 8 yrs held
Luzier Boat Shop LLC
since 2018
2 recorded transactions
Zoning & alternative use
IGD · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
tricts, and modify the use characteristics for accessory uses of religious institutions. 24-5540 Solar Utilities (24-ZTA-03) - An Ordinance to allow a Solar Utility as a permitted use in the Industrial General District (IGD) and Industrial Heavy District (IHD) zone districts and to adopt certain development standards for solar utilities. 24-5523 Housing Auth…
Zone name
Industrial General District
General category
INDUSTRIAL
Zone area
205.62 ac
Source
Home | City of Sarasota
Top alternative use upside
Auto repair, garage
$1.3M
+100.2%
Medical building
$1.2M
+81.2%
Retail stores
$1.2M
+79.9%
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%
$575,000
6.5%
$530,000
7%
$495,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$660,000
Current use
AUTO REPAIR, GARAGE
$1,320,000
Change: +100% · Conversion: Easy
MEDICAL BUILDING
$1,195,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$1,185,000
Change: +80% · Conversion: Moderate
OFFICE BUILDING
$990,000
Change: +51% · Conversion: Difficult
WAREHOUSE, STORAGE
$665,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$270 / 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
$5,568
Tax year 2023
Assessed value
$314,500
Assessed 2023
Previous assessed
$255,900
+22.9% YoY
Effective rate
1.77%
On assessed value
Assessed land
$192,900
Assessed improvement
$121,600
Land market value
$192,900
Improvement market value
$121,600
Total market value
$314,500
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1966
Heating
NONE
Cooling
NONE
Stories
1
Rooms
4
Bathrooms
1
Total area
3,000 SF
Lot
0.24 ac (10,500 SF)
Zoning code
IGD
APN
2023-12-0130
UPID
US18-1915506
Jurisdiction
SARASOTA
Zoning & alternative use
IGD · Sarasota, FLZoning IGD · permitted uses
IGD · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
tricts, and modify the use characteristics for accessory uses of religious institutions. 24-5540 Solar Utilities (24-ZTA-03) - An Ordinance to allow a Solar Utility as a permitted use in the Industrial General District (IGD) and Industrial Heavy District (IHD) zone districts and to adopt certain development standards for solar utilities. 24-5523 Housing Authority Overlay District (24-ZTA-01) - An Ordinance to expand the Housing Authority O
Zone name
Industrial General District
General category
INDUSTRIAL
Zone area
205.62 ac
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$990,000
WAREHOUSE, STORAGE
Est. value
$665,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1966
Heating
NONE
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Luzier Boat Shop LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2135 PRINCETON ST, SARASOTA, FL 34237-3436
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
May 25, 2018
$300,000
Luzier Boat Shop LLC
Luzier,george B & Carolyn B
Warranty Deed
—
Nov 14, 2014
—
Luzier George B|luzier Madelyn M
Luzier,george B
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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