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Property profile & analytics
OFF-MARKET
Estimated value
$1,130,000
Banks
2891 Tamiami Trl Sarasota, FL 34239-5104
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-9918986
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,191 SF
Lot
1.15 ac (50,017 SF)
Zoning code
CN
APN
0057-04-0060
UPID
US18-9918986
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
-
Wells Fargo Home Mortgage Loan Service Bank
-
Wells Fargo ATM Atm
-
Robyn L Bivona - 418607 - Wells Fargo Home Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.13M
Owner & transaction history
Crowley Group INC · 16 yrs held
Crowley Group INC
since 2009
3 recorded transactions
Zoning & alternative use
CN · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent and purpose of the CN district is to permit small-scale neighborhood oriented commercial facilities and to facilitate their proper development and use through substantial buffering and design techniques to lessen and/or prevent impacts on adjacent or nearby residential uses
Zone name
Commercial Neighborhood
General category
COMMERCIAL
Zone area
89.07 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.7M
+83.6%
Restaurant
$1.4M
+49.8%
Office building
$1.1M
+24.4%
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 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
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±10%
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
$183 / 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
$68,152
Tax year 2023
Assessed value
$4,345,200
Assessed 2023
Previous assessed
$4,257,200
+2.1% YoY
Effective rate
1.57%
On assessed value
Assessed land
$2,158,100
Assessed improvement
$2,187,100
Land market value
$2,158,100
Improvement market value
$2,187,100
Total market value
$4,345,200
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
18
Bathrooms
4
Total area
6,191 SF
Lot
1.15 ac (50,017 SF)
Zoning code
CN
APN
0057-04-0060
UPID
US18-9918986
Jurisdiction
SARASOTA
Zoning & alternative use
CN · Sarasota, FLZoning CN · permitted uses
CN · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent and purpose of the CN district is to permit small-scale neighborhood oriented commercial facilities and to facilitate their proper development and use through substantial buffering and design techniques to lessen and/or prevent impacts on adjacent or nearby residential uses
Zone name
Commercial Neighborhood
General category
COMMERCIAL
Zone area
89.07 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$1.7M
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$975,000
RETAIL STORES
Est. value
$835,000
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
18
Bathrooms
4
Lot
1.15 ac
Current owner
From public records · entity-resolved
Crowley Group INC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 2609, CARLSBAD, CA 92018-2609
Ownership since
2009
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
Nov 10, 2009
—
Crowley Group INC
Wachovia Bk NA
Quit Claim Deed
related
—
Jan 21, 2003
$1,105,100
Crowley Group INC
Southtrust Bank NA
Grant Deed
$6,500,000 · Regions Bank
Jun 20, 1997
$2,113,700
Southtrust Bank Florida NA
Home Savings Of America
Grant Deed
related
—
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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