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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2615 Cortez W Rd Bradenton, FL 34207-1162

    • Warehouses
    • 1,434 SF
    • 5.53 lot acres
    OFF-MARKET
    Last Sale
    Mar 22, 2022
    $7,550,000
    Value Estimations
    $6,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2155566
    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

    • ⚠️O̸m̸a̸r̸ S҉t҉o҉r҉m҉ C҉h҉a҉s҉e҉r҉ h҉o҉u҉s҉e҉⚠️🌪 / Weather Forecast Service
    • Tienda nancy cifuentes atomy / Chinese Medicine Store
    • Orange Grove LLC / Mobile Home Park
    • T&E Roofing LLC / Roofing Contractor

    Property Details for 2615 Cortez W Rd

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.53 lot acres
    Property size
    1,434 SF
    Zone code
    RSMH-6
    Property type
    Warehouses
    APN
    52166.0000-6
    APU
    5216600006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,105,000
      ML approach
      $5,905,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bradenton
    County
    Manatee
    State
    Florida
    Longitude
    -82.5887
    Latitude
    27.4616
    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
    $93,055
    $517,055
    $3,904,731
    $4,421,786
    -
    $517,055
    $3,904,731
    $4,421,786

    Comparable in this City

    • Value Estimation
      $3,540,000
      1,340 SF

      5210 14th W St

      STORAGE YARD (JUNK, SALVAGE) • 1,340 SF
      5210 14th W St, Bradenton, FL 34207-2845
      View Details
    • Value Estimation
      $390,000
      2,508 SF

      4416 Calm Hbr St

      STORAGE YARD (JUNK, SALVAGE) • 2,508 SF
      4416 Calm Hbr St, Bradenton, FL 34207-1085
      View Details
    • Value Estimation
      $710,000
      6,891 SF

      211 63rd W Ave

      STORAGE YARD (JUNK, SALVAGE) • 6,891 SF
      211 63rd W Ave, Bradenton, FL 34207-4903
      View Details
    • Value Estimation
      $12,655,000
      38,800 SF

      6424 14th W St

      MINI-WAREHOUSE, STORAGE • 38,800 SF
      6424 14th W St, Bradenton, FL 34207-5329
      View Details
    • Value Estimation
      $505,000
      4,556 SF

      620 57th W Ave

      STORAGE YARD (JUNK, SALVAGE) • 4,556 SF
      620 57th W Ave, Bradenton, FL 34207-4100
      View Details
    • Value Estimation
      $630,000
      4,050 SF

      405 57th W Ave

      STORAGE YARD (JUNK, SALVAGE) • 4,050 SF
      405 57th W Ave, Bradenton, FL 34207-3848
      View Details

    Similar Nearby for Sale

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    • New
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      Flexible commercial space ideal for various business uses or investment.
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    Similar Nearby for Lease

    • Contact for pricing
      106,000 SF

      Class A Industrial Space Available

      Class A industrial space for lease in master-planned park.
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      5,000 SF

      Bradenton Warehouse with Ample Parking

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      Freestanding medical office space in a professional center.
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      Retail Space Near US-41

      Retail space available in Bradenton, anchored by Publix and TJ Maxx.
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      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease near major retailers.
      613 Cortez Rd W, Bradenton, FL 34207
      View Details
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    Bradenton, FL 34207-1162
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    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
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