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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Office Spaces
2574 Commerce Pkwy 1602 North Port, FL 34289-9334
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-6017284
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,706 SF
Zoning code
PCDN
APN
0962-01-1018
UPID
US18-6017284
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
$1.37M
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.37M
Owner & transaction history
Wexford Parkway LLC · 5 yrs held
Wexford Parkway LLC
since 2021
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
PCDN · North Port, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.9M
+25.8%
Retail stores
$1.7M
+10.4%
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 North Port submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Port 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
$1,340,000
ML approach
$1,370,000
CAP Approach
CAP Return
Estimation
6%
$1,480,000
6.5%
$1,365,000
7%
$1,270,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,520,000
Current use
MEDICAL BUILDING
$1,910,000
Change: +26% · Conversion: Easy
RETAIL STORES
$1,680,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10% · vs last sale $1.09M (Feb 22 2021)
Last sale anchor
$1.09M
Feb 22 2021
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
$239 / 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
$14,168
Tax year 2023
Assessed value
$878,100
Assessed 2023
Previous assessed
$857,200
+2.4% YoY
Effective rate
1.61%
On assessed value
Assessed improvement
$878,100
Improvement market value
$878,100
Total market value
$878,100
Applied tax rate
500.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
5,706 SF
Zoning code
PCDN
APN
0962-01-1018
UPID
US18-6017284
Jurisdiction
SARASOTA
Zoning & alternative use
PCDN · North Port, FL
Zoning PCDN · permitted uses
PCDN · North Port, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Port. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Wexford Parkway LLC
Entity
Free & Clear · 5 yrs held
Mailing address
32 CASTLEBRIDGE LN, HILTON HEAD ISLAND, SC 29928-3363
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2021
$1,090,000
Wexford Parkway LLC
Golden Key Properties LLC
Warranty Deed
—
Apr 1, 2013
$1,150,000
Golden Key Properties LLC
Sof-viii-ft Park Of Commerce Nort
Grant Deed
—
Apr 10, 2009
—
North Port Park Of Commerce Lc
—
Grant Deed
related
$5,302,055 · Fifth Third 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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