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Property profile & analytics
OFF-MARKET
Estimated value
$2,590,000
Manufacturing properties
2188 51st St Sarasota, FL 34234
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5915236
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2005
Total area
19,725 SF
Lot
6.45 ac (281,071 SF)
Zoning code
ILW
APN
0023-12-0001
UPID
US18-5915236
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
-
Barker Boatworks (Bike/Boat/Book/etc) Store Production Facility
-
Rivolta Marine Inc Marina
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.59M
Owner & transaction history
Rpw Of Sarasota INC · 21 yrs held
Rpw Of Sarasota INC
since 2004
5 recorded transactions
Zoning & alternative use
ILW · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent and purpose of the ILW district is to permit light manufacturing, processing, storage and warehousing, wholesaling and distribution and to facilitate the proper development and use
Zone name
Industrial Light Warehousing
General category
INDUSTRIAL
Zone area
66.55 ac
Source
Realmo
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%
$3,790,000
6.5%
$3,500,000
7%
$3,250,000
Blend value · Realmo final
$2.59M
Range $2.33M – $2.85M · ±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
$131 / 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
$26,543
Tax year 2023
Assessed value
$1,740,000
Assessed 2023
Previous assessed
$1,603,000
+8.5% YoY
Effective rate
1.53%
On assessed value
Assessed land
$551,400
Assessed improvement
$1,188,600
Land market value
$551,400
Improvement market value
$1,188,600
Total market value
$1,740,000
Applied tax rate
100.0000
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
2005
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
19,725 SF
Lot
6.45 ac (281,071 SF)
Zoning code
ILW
APN
0023-12-0001
UPID
US18-5915236
Jurisdiction
SARASOTA
Zoning & alternative use
ILW · Sarasota, FLZoning ILW · permitted uses
ILW · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent and purpose of the ILW district is to permit light manufacturing, processing, storage and warehousing, wholesaling and distribution and to facilitate the proper development and use
Zone name
Industrial Light Warehousing
General category
INDUSTRIAL
Zone area
66.55 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2005
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
6.45 ac
Current owner
From public records · entity-resolved
Rpw Of Sarasota INC
Entity
Mailing address
32 S OSPREY AVE STE #203, SARASOTA, FL 34236-5849
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2021
—
R P W Of Sarasota INC
—
Deed
related
$600,000 · Bank Of The Ozarks
Dec 21, 2004
—
Rpw Of Sarasota INC
Anchor Indl Park Of Sarasota LLC
Warranty Deed
$1,160,000 · First National Bank Florida
Jun 24, 2004
$468,000
Anchor Indl Park Of Sarasota LLC
Rpw Of Sarasota INC
Warranty Deed
$1,075,000 · First National Bank Florida
—
—
Rpw Of Sarasota INC
—
Loan Modification
related
$800,000 · First Manatee Bk
—
—
Rpw Of Sarasota INC
—
Deed Of Trust
related
$1,160,000 · First National Bank Florida
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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