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

    215 Interstate Blvd Sarasota, FL 34240

    • Manufacturing properties
    • 14,997 SF
    • 1.00 lot acres
    For Sale
    View listing
    $2,995,000
    Last Sale
    Jan 29, 2024
    $2,100,000
    Value Estimations
    Cap Rate Potential
    8.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US18-1817453
    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

    • Badger Bob's Services / Hvac Contractor
    • Lawrence Cabinets / Cabinet Maker

    Property Details for 215 Interstate Blvd

    Year built
    1986
    Lot size
    1.00 lot acres
    Property size
    14,997 SF
    Zone code
    ILW
    Property type
    Manufacturing properties
    APN
    0216-04-0002
    APU
    216040002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,100,000
      ML approach
      $2,100,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,880,000
      6.5%
      $2,660,000
      7%
      $2,470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,645,000
      Market price range: $2.65M - $4.69M
      AI Estimate
      $2,197,000
      Market price range: $2.20M - $3.36M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,475,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4457
    Latitude
    27.3347
    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
    $16,827
    $376,000
    $703,700
    $1,079,700
    -
    $376,000
    $703,700
    $1,079,700

    Comparable in this City

    • Value Estimation
      $1,135,000
      37,899 SF

      1555 Apex Rd

      MANUFACTURING (LIGHT) • 37,899 SF
      1555 Apex Rd, Sarasota, FL 34240-9390
      View Details
    • Value Estimation
      $1,005,000
      30,014 SF

      1579 Barber Rd

      MANUFACTURING (LIGHT) • 30,014 SF
      1579 Barber Rd, Sarasota, FL 34240-9391
      View Details
    • Value Estimation
      $4,395,000
      28,648 SF

      1451 Global Ct

      MANUFACTURING (LIGHT) • 28,648 SF
      1451 Global Ct, Sarasota, FL 34240-7859
      View Details
    • Value Estimation
      $650,000
      15,200 SF

      1350 Global Ct

      MANUFACTURING (LIGHT) • 15,200 SF
      1350 Global Ct, Sarasota, FL 34240-7856
      View Details
    • Value Estimation by Request
      59,000 SF

      901 Sarasota Ctr Blvd

      MANUFACTURING (LIGHT) • 59,000 SF
      901 Sarasota Ctr Blvd, Sarasota, FL 34240-7816
      View Details
    • Value Estimation by Request
      9,000 SF

      501 Interstate Ct

      MANUFACTURING (LIGHT) • 9,000 SF
      501 Interstate Ct, Sarasota, FL 34240-8929
      View Details

    Similar Nearby for Sale

    • $2,500,000
      6,000 SF

      Sarasota Warehouse - $2.5M

      6,000 SF Warehouse, Lakefront Lot
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      View Details
    • $8,940,000
      12.56 Acres

      Sarasota Industrial Land Opportunity

      12.56 Acres, Prime Location, Priced to Sell
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    • $2,500,000
      9,001 SF

      Freestanding Warehouse Investment Opportunity

      Fully leased warehouse building with three units in Eastern Industrial Park.
      1598-1598 Apex Rd, Sarasota, FL 34240
      View Details
    • $2,995,000
      14,997 SF

      High-Clearance Warehouse with Office Space

      15,000 SF warehouse with 2,000 SF office, excellent I-75 visibility.
      215 Interstate Blvd, Sarasota, FL 34240
      View Details
    • $550,000
      1,935 SF

      Sarasota Flex Space For Sale

      Industrial/flex space in Sarasota Business Center with versatile layout.
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      Highway 72 Commercial Land

      Prime 1.84-Acre Commercial Lot
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    Similar Nearby for Lease

    • $14 SF/Yr
      4,480 SF

      Warehouse/Office Combo with Bay Doors

      4480 SF warehouse/office combo with drive-thru bay doors.
      418 Interstate Ct, Sarasota, FL 34240
      View Details
    • $18 SF/Yr
      6,600 SF

      6300 Tower Lane Industrial Space

      Fully AC'd flex space near I-75. Divisible.
      6300 Tower Ln, Sarasota, FL 34240
      View Details
    • $1,800 /Mo
      1,250 SF

      Office/Warehouse Near I-75 Available

      Office/warehouse near I-75, Fruitville, Bee Ridge, and Cattlemen Road.
      1885 Porter Lake Dr, Sarasota, FL 34240
      View Details
    • $16 SF/Yr
      3,105 SF

      Sarasota Flex Space For Rent

      3105 SF Flex Space fronts I-75 at Fruitville Rd.
      567-585 Interstate Blvd, Sarasota, FL 34240
      View Details
    • $15 SF/Yr
      5,400 SF

      Contemporary Flex Space For Lease

      Versatile industrial/flex space with ample parking and natural light.
      8270-8297 Blaikie Ct, Sarasota, FL 34240
      View Details
    • $16 SF/Yr
      1,750 SF

      Office/Warehouse Space Fronting I-75

      Prime office and warehouse space in Lakewood Ranch/Sarasota, FL.
      309 Interstate Blvd, Sarasota, FL 34240
      View Details
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    215 Interstate Blvd
    Sarasota, FL 34240
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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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