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Property profile & analytics
OFF-MARKET
Estimated value
$1,985,000
Apartment buildings
229 Osprey Ave Sarasota, FL 34236-6865
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US19-0803233
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,594 SF
Lot
1.11 ac (48,528 SF)
Zoning code
DTE; DTC
APN
2027-08-0035
UPID
US19-0803233
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
-
Coastal Coin Company (Bike/Boat/Book/etc) Store
-
Laurel Park Management, Inc. Apartment Building
-
Florida Document Imaging Law Firm
-
Lit & More Law Firm
-
PST 2 PDF Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.99M
Owner & transaction history
Silva Court LLC · 21 yrs held
Silva Court LLC
since 2005
6 recorded transactions
Zoning & alternative use
DTE; DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,245,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,905,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.99M
Range $1.79M – $2.18M · ±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
$96 / 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
$48,201
Tax year 2023
Assessed value
$3,150,400
Assessed 2023
Previous assessed
$2,972,500
+6.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$2,571,800
Assessed improvement
$578,600
Land market value
$2,571,800
Improvement market value
$578,600
Total market value
$3,150,400
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
WALL UNIT
Buildings
8
Stories
2
Units
20
Rooms
58
Bathrooms
20
Total area
20,594 SF
Lot
1.11 ac (48,528 SF)
Zoning code
DTE; DTC
APN
2027-08-0035
UPID
US19-0803233
Jurisdiction
SARASOTA
Zoning & alternative use
DTE; DTC · Sarasota, FL
Zoning DTE; DTC · permitted uses
DTE; DTC · 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
INDUSTRIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Buildings
8
Units
20
Rooms
58
Bathrooms
20
Lot
1.11 ac
Current owner
From public records · entity-resolved
Silva Court LLC
Entity
Mailing address
324 JULIA PL, SARASOTA, FL 34236-6900
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2005
—
Silva Court LLC
Owner,record
Grant Deed
related
—
Apr 4, 2003
$1,450,000
Bernard Stein
Vengroff,harvey & Carol
Grant Deed
$1,160,000 · Sarasota Bank
May 20, 1998
$805,000
Harvey Vengroff
Community Housing Corp Of Sara
Grant Deed
—
—
—
Silva Court LLC
—
Deed Of Trust
related
$369,749 · Stearns Bank NA
—
—
Silva Court LLC
—
Deed Of Trust
related
$26,136 · First State Bank
—
—
Silva Court LLC
—
Deed Of Trust
related
$500,000 · First State Bank
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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