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

    2891 S Tamiami Trl Sarasota, FL 34239

    • Banks
    • 6,191 SF
    • 1.15 lot acres
    For Sale
    View listing
    $4,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9918986
    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

    • Wells Fargo Home Mortgage / Mortgage Lender
    • Wells Fargo ATM / Atm
    • Robyn L Bivona - 418607 - Wells Fargo Home Mortgage / Mortgage Lender

    Property Details for 2891 S Tamiami Trl

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.15 lot acres
    Property size
    6,191 SF
    Zone code
    CN
    Property type
    Banks
    APN
    0057-04-0060
    APU
    57040060

    Description

    This exceptional 15,047 square foot, two-story building sits on a highly visible 1.15-acre corner lot in Sarasota, Florida. Currently configured as office and retail space, this property presents a compelling opportunity for an owner-user or redevelopment project. The building is well-maintained and ready for immediate occupancy, boasting four drive-thru lanes, a significant advantage in this competitive market. Its strategic location near Sarasota Memorial Hospital ensures high traffic and visibility. The property benefits from being situated in a market with high barriers to entry, making it a particularly desirable investment. While previously used as a bank, there are restrictions against its use as a financial institution for a period of two years following the sale. The asking price is $4,000,000. This prime location and versatile space offer significant potential for a variety of commercial uses. The property's size and features make it an attractive option for businesses seeking a prominent presence in a thriving Sarasota neighborhood. The address is 2891 S Tamiami Trail, Sarasota, FL 34239. The property is zoned for office and retail use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,090,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,165,000
      Market price range: $696k - $1.17M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $905,000
      Current use
      COMMERCIAL (GENERAL)
      $1,660,000
      Change: +84% Conversion: Difficult
      RESTAURANT
      $1,355,000
      Change: +50% Conversion: Difficult
      OFFICE BUILDING
      $1,125,000
      Change: +24% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,025,000
      Change: +13% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $975,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $835,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5296
    Latitude
    27.3078
    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
    $68,152
    $2,158,100
    $2,187,100
    $4,345,200
    -
    $2,158,100
    $2,187,100
    $4,345,200

    Comparable in this City

    • Value Estimation
      $725,000
      4,408 SF

      1575 Tamiami Trl

      FINANCIAL BUILDING • 4,408 SF
      1575 Tamiami Trl, Sarasota, FL 34239-2904
      View Details
    • Value Estimation
      $1,020,000
      10,746 SF

      3000 Bee Rdg Rd

      FINANCIAL BUILDING • 10,746 SF
      3000 Bee Rdg Rd, Sarasota, FL 34239-7121
      View Details
    • Value Estimation
      $615,000
      5,656 SF

      2704 Bee Rdg Rd

      FINANCIAL BUILDING • 5,656 SF
      2704 Bee Rdg Rd, Sarasota, FL 34239-6403
      View Details
    • Value Estimation
      $5,310,000
      4,200 SF

      3530 Tamiami Trl

      FINANCIAL BUILDING • 4,200 SF
      3530 Tamiami Trl, Sarasota, FL 34239-6025
      View Details
    • Value Estimation
      $950,000
      5,201 SF

      3303 Tamiami Trl

      FINANCIAL BUILDING • 5,201 SF
      3303 Tamiami Trl, Sarasota, FL 34239-5114
      View Details
    • Value Estimation
      $625,000
      5,310 SF

      1201 Tamiami Trl

      FINANCIAL BUILDING • 5,310 SF
      1201 Tamiami Trl, Sarasota, FL 34239-2209
      View Details

    Similar Nearby for Sale

    • $2,495,000
      7,616 SF

      Sarasota Retail Storefront Investment

      Prime Bee Ridge Rd location, live/work opportunity.
      2048 Bee Ridge Rd, Sarasota, FL 34239
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    • $4,000,000
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      Two-Story Building Near Sarasota Hospital

      15,047 SF building near Sarasota Memorial Hospital.
      2891 S Tamiami Trl, Sarasota, FL 34239
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    • $1,100,000
      5,760 SF

      Office/Warehouse Investment Opportunity

      Office/warehouse property with flexible layouts, ideal for investors/users.
      2926 Hyde Park St, Sarasota, FL 34239
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    • $1,349,000
      5,791 SF

      High-Traffic Sarasota Retail Center

      Fully leased retail center with high visibility and income potential.
      3593-3599 Webber St, Sarasota, FL 34239
      View Details
    • $1,400,000
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      Free-Standing Building in Sarasota, FL

      Free-standing block building in desirable Sarasota location with high visibility.
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      View Details
    • $900,000
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      Free-Standing Building on Bee Ridge

      Established business and free-standing building with high potential on Bee Ridge.
      3080 Bee Ridge Road Ext, Sarasota, FL 34239
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Sarasota, Florida

      Retail spaces available in a well-populated Sarasota trade area.
      Nwc Of Bee Rdg Rd & Tuttle Ave, Sarasota, FL 34239
      View Details
    • Contact for pricing
      8,590 SF

      Aldi Sublease: Siesta Key Retail

      Prime Sarasota Retail Space Available
      3501 Tamiami Trl, Sarasota, FL 34239
      View Details
    • Contact for pricing
      141,508 SF

      Shops at Siesta Row: Sarasota Office

      Prime Sarasota Office Suites Available
      3825 Osprey Ave, Sarasota, FL 34239
      View Details
    • $23 SF/Yr
      4,207 SF

      Prime Sarasota Medical Office Building

      4,207 SF Medical Office, High Visibility
      2650 Tamiami Trl, Sarasota, FL 34239
      View Details
    • $37 SF/Yr
      13,200 SF

      Modern Medical Building Near Hospital

      13,200 SF medical building with surgery center and office.
      2089 Hawthorne St, Sarasota, FL 34239
      View Details
    • $29 SF/Yr
      2,652 SF

      Sarasota Medical Corridor Office Space

      Prime location near Sarasota Memorial Hospital, ideal for medical professionals.
      2020 Rose St, Sarasota, FL 34239
      View Details
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    Sarasota, FL 34239
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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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