Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 Grant Dr Sarasota, FL 34236-2032

    • Hotels
    • 6,000 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $1,635,000
    Show details
    Cap Rate Potential
    3.6%
    Hotels
    Location Intelligence
    Property ID
    US18-3728384
    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

    • Hotels

    Property Details for 240 Grant Dr

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    6,000 SF
    Zone code
    RMF2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    2016-06-0008
    APU
    2016060008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,668,000
      Market price range: $1.67M - $4.21M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5737
    Latitude
    27.312
    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
    $26,540
    $1,890,000
    $132,800
    $2,022,800
    -
    $1,890,000
    $132,800
    $2,022,800

    Comparable in this City

    • Value Estimation
      $20,510,000
      81,337 SF

      233 Benjamin Franklin Dr

      HOTEL/MOTEL • 81,337 SF
      233 Benjamin Franklin Dr, Sarasota, FL 34236-1205
      View Details
    • Value Estimation
      $31,090,000
      124,768 SF

      1255 Palm Ave

      HOTEL/MOTEL • 124,768 SF
      1255 Palm Ave, Sarasota, FL 34236-5603
      View Details
    • Value Estimation
      $13,045,000
      54,275 SF

      1223 Blvd Of The Arts

      HOTEL/MOTEL • 54,275 SF
      1223 Blvd Of The Arts, Sarasota, FL 34236-2901
      View Details
    • Value Estimation
      $21,545,000
      86,160 SF

      1401 Ringling Blvd

      HOTEL/MOTEL • 86,160 SF
      1401 Ringling Blvd, Sarasota, FL 34236-2394
      View Details
    • Value Estimation by Request
      226,247 SF

      100 Marina Vw Dr, Unit 101

      HOTEL/MOTEL • 226,247 SF
      100 Marina Vw Dr, Sarasota, FL 34236-2395
      View Details
    • Value Estimation
      $26,290,000
      58,776 SF

      700 Benjamin Franklin Dr

      HOTEL/MOTEL • 58,776 SF
      700 Benjamin Franklin Dr, Sarasota, FL 34236-2011
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,171 SF

      Historic Sarasota Building with Bayfront Zoning

      Iconic 1926 building in downtown Sarasota with versatile development potential.
      601 Quay Cmns, Sarasota, FL 34236
      View Details
    • Contact for pricing
      18,171 SF

      Belle Haven: Sarasota Gem

      Historic building, versatile uses.
      601 Quay Cmns, Sarasota, FL 34236
      View Details
    • $5,000,000

      Downtown Sarasota Redevelopment Opportunity

      Prime 0.34-acre parcel in Sarasota's Downtown Core zoning district.
      205 N Orange Ave, Sarasota, FL 34236
      View Details
    • Contact for pricing
      0.33 Acres

      Downtown Sarasota Land Assemblage

      .33-acre Multi-Family Development Site
      1400 Fruitville Rd, Sarasota, FL 34236
      View Details
    • $2,499,000
      0.40 Acres

      St. Armands Circle Vacant Lot

      Prime vacant lot in the heart of St. Armands Circle.
      204 N Adams Dr, Sarasota, FL 34236
      View Details
    • $4,600,000
      5,795 SF

      Downtown Sarasota Mixed-Use Building

      Commercial building in prime downtown location with development potential.
      1219 1St St, Sarasota, FL 34236
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      7,445 SF

      Downtown Sarasota Office Space

      7,445 sq ft Office Suite Available
      240 Washington Blvd, Sarasota, FL 34236
      View Details
    • $33 SF/Yr
      93,756 SF

      Courthouse Centre Office Space

      Sarasota, FL Office Suites Available
      1990 Main St, Sarasota, FL 34236
      View Details
    • $20 SF/Yr
      5,490 SF

      Downtown Sarasota Office Space

      Premier office space in downtown Sarasota with panoramic views.
      50 Central Ave, Sarasota, FL 34236
      View Details
    • $14 SF/Yr
      2,200 SF

      Functional Industrial Space For Lease

      Suites ideal for light industrial, contractors, and office-warehouse operations.
      1350 Central Ave, Sarasota, FL 34236
      View Details
    • $20 SF/Yr
      1,580 SF

      Downtown Sarasota Bungalow Office Space

      Charming 1923 bungalow office near downtown Sarasota for rent.
      535 Lafayette Ct, Sarasota, FL 34236
      View Details
    • $15 SF/Yr
      30,331 SF

      Modern Facility in Sarasota

      High-quality office and warehouse space available for lease.
      1074 N Orange Ave, Sarasota, FL 34236
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    240 Grant Dr
    Sarasota, FL 34236-2032
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.