Back to Search
Property profile & analytics
FOR LEASE
Office buildings
240 N Washington Blvd Sarasota, FL 34236
Entity Owned
Free & Clear
Property ID
US18-1861380
For Lease
1 / 6
$26 SF/Yr
240 N Washington Blvd, Sarasota, FL 34236
View Listing →
Property summary
AI-generated overview
This iconic seven-story, 56,000-square-foot office building, located at 240 N Washington Blvd in Sarasota, FL 34236, enjoys a prime location at the entrance to downtown Sarasota, on the corner of US 301 and Fruitville Road. Boasting excellent signage and visibility at a heavily trafficked, lighted intersection, this building offers unparalleled exposure. The property features a mix of office spaces ranging from 325 to 2,883 square feet, catering to various business needs. Thirteen spaces are currently available. The building includes a ground floor occupied by Chase Bank, an indoor atrium spanning floors three through seven, and abundant natural light throughout. Floor plans vary
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1974
Construction
FRAME
Total area
52,413 SF
Lot
0.78 ac (33,971 SF)
Zoning code
DTC
APN
2026-16-0011
UPID
US18-1861380
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
-
Chase Mortgage Loan Service Bank
-
MethodFactory - Full-Service Digital Solutions Company Advertising Agency Marketing & Advertising
-
Mark Porter, Ed.D., CAP Physician Medical Clinic
-
Sylint Group Business Management Consultant
-
Interactive Computer Electronics & Wireless Store Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.72M
CAP Approach
CAP
$12.54M
Comparable Approach
Comparable
$8.42M
Blend (final)
Blend
$10.53M
Owner & transaction history
Srq Downtown LLC
Srq Downtown LLC
since 2026
Last sale
$7.9M
6 recorded transactions
Zoning & alternative use
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
$10,715,000
CAP Approach
CAP Return
Estimation
6%
$13,585,000
6.5%
$12,540,000
7%
$11,645,000
Blend value · Realmo final
$10.53M
Range $9.48M – $11.58M · ±10% · vs last sale $7.90M (Jan 7 2026)
Last sale anchor
$7.90M
Jan 7 2026
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
$201 / 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
$116,618
Tax year 2023
Assessed value
$7,059,600
Assessed 2023
Previous assessed
$5,720,700
+23.4% YoY
Effective rate
1.65%
On assessed value
Assessed land
$2,361,400
Assessed improvement
$4,698,200
Land market value
$2,361,400
Improvement market value
$4,698,200
Total market value
$7,059,600
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1974
Construction
FRAME
Heating
YES
Cooling
YES
Stories
7
Rooms
30
Bathrooms
14
Total area
52,413 SF
Lot
0.78 ac (33,971 SF)
Zoning code
DTC
APN
2026-16-0011
UPID
US18-1861380
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FL
Zoning DTC · permitted uses
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.
Building & site characteristics
From public records
Year built
1974
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
7
Rooms
30
Bathrooms
14
Lot
0.78 ac
Current owner
From public records · entity-resolved
Srq Downtown LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4155 CLB DR NE, ATLANTA, GA 30319-1115
Ownership since
2026
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 7, 2026
$7,900,000
Srq Downtown LLC
Bm 240 N Washington LLC
Special Warranty Deed
—
Dec 22, 2025
$5,941,000
Bm 240 N Washington LLC
Park District Manager LLC
Special Warranty Deed
—
Jul 19, 2022
$11,789,000
Park District Manager LLC
Pointe LLC
Warranty Deed
$27,000,000 · Tig Romspen Us Master Mortgage LP
Dec 31, 2008
—
Pointe LLC
Rse Of Wv LLC
Warranty Deed
—
May 3, 2004
$6,212,500
Rse/wv LLC
Jfb Holding INC
Grant Deed
$1,900,000 · Amsouth Bank
Jul 20, 2000
$3,300,000
Jfb Holdings INC
Ahlic Investment Holding Corp
Grant Deed
related
$3,769,000 · Bank Of America
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
