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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Turn key restaurants
2291 Ringling Blvd Sarasota, FL 34237-6101
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4611952
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,437 SF
Lot
0.06 ac (2,626 SF)
Zoning code
CG
APN
2029-03-0030
UPID
US18-4611952
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$558k
Blend (final)
Blend
$585k
Owner & transaction history
2289 Ringling LLC · 5 yrs held
2289 Ringling LLC
since 2020
Last sale
$448,000
6 recorded transactions
Zoning & alternative use
CG · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent and purpose of the CG district is to permit medium scale commercial facilities and to facilitate their proper development and use
Zone name
Commercial General
General category
COMMERCIAL
Zone area
54.76 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
$735,000
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$890,000
Current use
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $448k (Nov 24 2020)
Last sale anchor
$448k
Nov 24 2020
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
$407 / 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
$5,095
Tax year 2023
Assessed value
$365,100
Assessed 2023
Previous assessed
$253,400
+44.1% YoY
Effective rate
1.40%
On assessed value
Assessed land
$170,100
Assessed improvement
$195,000
Land market value
$170,100
Improvement market value
$195,000
Total market value
$365,100
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
1
Bathrooms
2
Total area
1,437 SF
Lot
0.06 ac (2,626 SF)
Zoning code
CG
APN
2029-03-0030
UPID
US18-4611952
Jurisdiction
SARASOTA
Zoning & alternative use
CG · Sarasota, FLZoning CG · permitted uses
CG · 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 CG district is to permit medium scale commercial facilities and to facilitate their proper development and use
Zone name
Commercial General
General category
COMMERCIAL
Zone area
54.76 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$890,000
RESTAURANT Current
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
2289 Ringling LLC
Entity
Mailing address
1403 PALMWOOD DR, SARASOTA, FL 34232-3420
Ownership since
2020
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
Nov 24, 2020
$448,000
2289 Ringling LLC
John J Rattigan JR.
Warranty Deed
$358,400 · John J JR Rattigan
Dec 10, 2018
$365,000
John Rattigan
Fasanelli,michael E & Lisa P
Warranty Deed
—
Jul 7, 1999
$85,000
Michael E Fasanelli
Nelson,richard E & Jane B
Grant Deed
$152,000 · Sarasota Bank
—
—
Michael E Fasanelli
—
Deed Of Trust
related
$50,000 · Bank Of Commerce
—
—
Michael E Fasanelli
—
Loan Modification
related
$321,990 · Bank Of Commerce
—
—
Michael E Fasanelli
—
Deed Of Trust
related
$91,400 · Sarasota 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.
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