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

    2219 Whitfield Park Dr Sarasota, FL 34243-4095

    • Office buildings
    • 5,940 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2022
    $750,000
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3306209
    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

    • Encompas Unlimited Inc / Medical Supply Store
    • AllPro Home Improvement & Services / Window Installation Service

    Property Details for 2219 Whitfield Park Dr

    Year built
    1983
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.40 lot acres
    Property size
    5,940 SF
    Zone code
    LM
    Property type
    Office buildings
    APN
    18683.0570-5
    APU
    1868305705

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,005,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $942,000
      Market price range: $580k - $2.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.5365
    Latitude
    27.4193
    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
    $10,990
    $159,375
    $448,633
    $608,008
    -
    $159,375
    $448,633
    $608,008

    Comparable in this City

    • Value Estimation
      $7,215,000
      28,800 SF

      2820 University Pkwy

      PROFESSIONAL BUILDING • 28,800 SF
      2820 University Pkwy, Sarasota, FL 34243-2410
      View Details
    • Value Estimation
      $2,245,000
      6,621 SF

      100 University Town Ctr Dr

      OFFICE BUILDING • 6,621 SF
      100 University Town Ctr Dr, Sarasota, FL 34243-4162
      View Details
    • Value Estimation
      $15,520,000
      44,000 SF

      5901 Honore Ave Ste, Unit 130

      OFFICE BUILDING (MULTI-STORY) • 44,000 SF
      5901 Honore Ave Ste, Sarasota, FL 34243-2632
      View Details
    • Value Estimation
      $1,220,000
      5,300 SF

      6850 Whitfield Industrial Ave

      OFFICE BUILDING • 5,300 SF
      6850 Whitfield Industrial Ave, Sarasota, FL 34243-4067
      View Details
    • Value Estimation
      $515,000
      2,400 SF

      369 Scott Ave

      OFFICE BUILDING • 2,400 SF
      369 Scott Ave, Sarasota, FL 34243
      View Details
    • Value Estimation by Request
      1,798 SF

      7421 Tamiami Trl

      OFFICE BUILDING • 1,798 SF
      7421 Tamiami Trl, Sarasota, FL 34243-1808
      View Details

    Similar Nearby for Sale

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      Functional Property Ideal for R&D

      Flexible layout, security features, and prominent location.
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      1,114 SF

      Professional Office/Medical Buildings Near Airport

      Four-building park near Sarasota-Bradenton Airport, ideal for investment.
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      Updated Flex Space Commercial Building

      Updated flex space with office and warehouse functionality.
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    • $4,950,000
      30,000 SF

      Prime Sarasota Commercial Building

      30,000 SF building on University Parkway, ideal for investors.
      1852-1852 University Pkwy, Sarasota, FL 34243
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    • $480,000
      2,250 SF

      Industrial Condo with Full Air Conditioning

      2,250 sq ft corner unit with office and warehouse.
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    • $11,420,000
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      Prime Sarasota location, flexible space, high potential.
      7575 Commerce Ct, Sarasota, FL 34243
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    Similar Nearby for Lease

    • $22 SF/Yr
      4,350 SF

      Class A Office Space Available

      Prestigious Class A office space in prime University Parkway location.
      2970 University Pkwy, Sarasota, FL 34243
      View Details
    • $27 SF/Yr
      2,681 SF

      Tamiami Trail Sarasota Office Space

      Prime Sarasota Office, 2681 sq ft
      7430 Tamiami Trl, Sarasota, FL 34243
      View Details
    • $27 SF/Yr
      2,681 SF

      Sarasota Office Space for Lease

      Prime Tamiami Trail location, 2681 sq ft.
      7430 Tamiami Trl, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
      23,140 SF

      University Parkway Office Suites

      Class A Sarasota Office Space, Sublease Available
      2970 University Pkwy, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
      2,217 SF

      Medical Suite on University Parkway

      Medical suite for lease in University Health Park.
      8451 N Shade Ave, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
      4,459 SF

      Medical Office in University Park

      Ground floor medical office space for lease in Sarasota, FL.
      2401 University Pkwy, Sarasota, FL 34243
      View Details
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    Sarasota, FL 34243-4095
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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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