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Property profile & analytics
OFF-MARKET
Estimated value
$2,585,000
Hotels
240 Sands Pt Rd 4407 Longboat Key, FL 34228-3937
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-5930972
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,603 SF
Zoning code
GPD
APN
0013-04-2028
UPID
US18-5930972
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
$2.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.36M
Blend (final)
Blend
$2.59M
Owner & transaction history
Lbk4407 LLC · 3 yrs held
Lbk4407 LLC
since 2023
Last sale
$2.6M
4 recorded transactions
Zoning & alternative use
GPD · Longboat Key, 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 Longboat Key submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Longboat Key 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
$2,620,000
ML approach
$2,745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.59M
Range $2.33M – $2.84M · ±10% · vs last sale $2.60M (Mar 2 2023)
Last sale anchor
$2.60M
Mar 2 2023
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
$1,613 / 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
$20,258
Tax year 2023
Assessed value
$1,770,100
Assessed 2023
Previous assessed
$1,355,600
+30.6% YoY
Effective rate
1.14%
On assessed value
Assessed improvement
$1,770,100
Improvement market value
$1,770,100
Total market value
$1,770,100
Applied tax rate
420.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
4
Bathrooms
2
Total area
1,603 SF
Zoning code
GPD
APN
0013-04-2028
UPID
US18-5930972
Jurisdiction
SARASOTA
Zoning & alternative use
GPD · Longboat Key, FL
Zoning GPD · permitted uses
GPD · Longboat Key, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Longboat Key. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
2
Current owner
From public records · entity-resolved
Lbk4407 LLC
Entity
Mailing address
140 WILL DR, CANTON, MA 02021-3704
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2023
$2,600,000
Lbk4407 LLC
Equity Properties Limited
Warranty Deed
—
May 2, 2018
$1,175,000
Equity Properties LLC
Torretta Bldg Operations INC
Grant Deed
—
Nov 23, 2011
$1,012,500
Building Operations I Torretta
Schwartz,peter
Warranty Deed
—
—
—
Equity Properties Ltd
—
Deed Of Trust
related
$2,500,000 · Centerstate Bk NA
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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