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    Property profile & analytics

    2628 17th St Sarasota, FL 34234-7830

    • Outlet malls
    • 12,000 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2021
    $2,201,000
    Value Estimations
    $2,925,000
    Show details
    Cap Rate Potential
    5.9%
    Outlet malls
    Location Intelligence
    Property ID
    US18-0207270
    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

    • Dollar General / Discount Store
    • Western Union / Bank / Credit Union

    Property Details for 2628 17th St

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    12,000 SF
    Zone code
    IGD
    Property type
    Outlet malls
    APN
    2023-01-0002
    APU
    2023010002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,175,000
      ML approach
      $3,135,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,125,000
      6.5%
      $2,885,000
      7%
      $2,680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,954,000
      Market price range: $2.87M - $8.09M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,740,000
      Current use
      MEDICAL BUILDING
      $4,770,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5177
    Latitude
    27.3518
    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
    $27,162
    $348,800
    $1,302,000
    $1,650,800
    -
    $348,800
    $1,302,000
    $1,650,800

    Comparable in this City

    • Value Estimation
      $2,020,000
      8,000 SF

      3708 Tamiami Trl

      WHOLESALE OUTLET, DISCOUNT STORE • 8,000 SF
      3708 Tamiami Trl, Sarasota, FL 34234-5360
      View Details
    • Value Estimation by Request
      910 SF

      5119 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER • 910 SF
      5119 Tamiami Trl, Sarasota, FL 34234-2700
      View Details
    • Value Estimation
      $6,000,000
      43,013 SF

      1903 Northgate Blvd

      SHOPPING CENTER, STRIP CENTER • 43,013 SF
      1903 Northgate Blvd, Sarasota, FL 34234-2143
      View Details
    • Value Estimation
      $6,815,000
      43,035 SF

      3333 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER • 43,035 SF
      3333 Tamiami Trl, Sarasota, FL 34234-5218
      View Details
    • Value Estimation
      $620,000
      920 SF

      1770 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER • 920 SF
      1770 Tamiami Trl, Sarasota, FL 34234-8337
      View Details
    • Value Estimation by Request
      0.21 Acres

      2801 Tamiami Trl

      SHOPPING CENTER COMMON AREA • 0.21 Acres
      2801 Tamiami Trl, Sarasota, FL 34234-5813
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,697 SF

      Industrial Building with Showroom/Office Space

      Free-standing industrial building with showroom and office space for sale.
      4444 N Washington Blvd, Sarasota, FL 34234
      View Details
    • $3,850,000
      13,942 SF

      Sarasota Mixed-Use Opportunity

      Prime Tamiami Trail location, 13,942 SF building, 2+ acres
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • Contact for pricing
      22,000 SF

      22,000 SF Building on 1.65 Acres

      22,000 SF building on 1.65 acres with ample parking.
      3935 N Washington Blvd, Sarasota, FL 34234
      View Details
    • $16,000,000
      4,714 SF

      Prime Sarasota Retail/Multifamily Land

      4.8 Acres, 135 Units/Acre Approved
      4500 Tamiami Trl, Sarasota, FL 34234
      View Details
    • New
      $65,000
      Pending

      Vacant Lot in Sarasota

      5,000 sq ft vacant lot in a developing area.
      N Osprey Ave, Sarasota, FL 34234
      View Details
    • $150,000
      0.12 Acres

      Buildable Lot in Sarasota Neighborhood

      Rare opportunity to own a buildable lot near downtown Sarasota.
      1460 17Th Street Cir, Sarasota, FL 34234
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,260 SF

      Retail Space in Northgate Plaza

      Centrally located retail space with ample parking and signage.
      1901-1957 Northgate Blvd, Sarasota, FL 34234
      View Details
    • Contact for pricing
      825 SF

      Retail Space in Indian Beach

      Retail spaces available in the heart of the College District.
      2801-2811 N Tamiami Trl, Sarasota, FL 34234
      View Details
    • Contact for pricing
      3,000 SF

      Restaurant Space on Tamiami Trail

      Restaurant property for lease on a high-traffic corner lot.
      4195 N Tamiami Trl, Sarasota, FL 34234
      View Details
    • $14 SF/Yr
      13,942 SF

      Sarasota Commercial Building

      13,942 SF Freestanding Retail Space
      3808 Tamiami Trl, Sarasota, FL 34234
      View Details
    • Contact for pricing
      4,060 SF

      Retail Space on Tamiami Trail

      Commercial space for lease with high visibility and ample parking.
      5211 S Tamiami Trl, Sarasota, FL 34234
      View Details
    • Contact for pricing
      8,320 SF

      Freestanding Retail Building in Sarasota

      Retail building for sublease with excellent visibility and parking.
      2128 N Washington Blvd, Sarasota, FL 34234
      View Details
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    Sarasota, FL 34234-7830
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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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