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

    308 Sullivan St Punta Gorda, FL 33950-4856

    • Office buildings
    • 1,833 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 26, 2024
    $565,000
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    4.3%
    Office buildings
    Location Intelligence
    Property ID
    US18-0133985
    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

    • The Mortgage Firm - Toby Lynn / Loan Service / Bank
    • Splash of Madness / Clothing & Fashion Store

    Property Details for 308 Sullivan St

    Year built
    1930
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    1,833 SF
    Zone code
    CC
    Property type
    Office buildings
    APN
    41-23-06-381-003
    APU
    412306381003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $565,000
      ML approach
      $565,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $370,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $441,000
      Market price range: $254k - $494k
      AI Estimate
      $441,000
      Market price range: $254k - $494k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $375,000
      Current use
      COMMERCIAL (GENERAL)
      $565,000
      Change: +50% Conversion: Easy
      AUTO REPAIR, GARAGE
      $515,000
      Change: +37% Conversion: Difficult
      MEDICAL BUILDING
      $435,000
      Change: +16% Conversion: Easy
      RETAIL STORES
      $425,000
      Change: +13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Punta Gorda
    County
    Charlotte
    State
    Florida
    Longitude
    -82.0503
    Latitude
    26.9337
    CBSA code
    39460
    CBSA name
    PUNTA GORDA, 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
    $5,141
    $0.00
    $0.00
    $271,900
    -
    $114,375
    $156,799
    $271,174

    Comparable in this City

    • Value Estimation
      $1,115,000
      5,440 SF

      26530 Mallard Way

      PROFESSIONAL BUILDING • 5,440 SF
      26530 Mallard Way, Punta Gorda, FL 33950-9327
      View Details
    • Value Estimation
      $715,000
      2,380 SF

      351 Marion Ave

      PROFESSIONAL BUILDING • 2,380 SF
      351 Marion Ave, Punta Gorda, FL 33950-4436
      View Details
    • Value Estimation by Request
      2,288 SF

      512 Marion Ave

      PROFESSIONAL BUILDING • 2,288 SF
      512 Marion Ave, Punta Gorda, FL 33950-3814
      View Details
    • Value Estimation
      $775,000
      3,560 SF

      334 Olympia Ave

      PROFESSIONAL BUILDING • 3,560 SF
      334 Olympia Ave, Punta Gorda, FL 33950-4859
      View Details
    • Value Estimation
      $530,000
      3,834 SF

      401 Olympia Ave

      PROFESSIONAL BUILDING • 3,834 SF
      401 Olympia Ave, Punta Gorda, FL 33950-3835
      View Details
    • Value Estimation by Request
      3,034 SF

      8250 Pascal Dr

      PROFESSIONAL BUILDING • 3,034 SF
      8250 Pascal Dr, Punta Gorda, FL 33950-4726
      View Details

    Similar Nearby for Sale

    • $299,000

      Commercial Building Near Downtown Punta Gorda

      Free-standing commercial building with CG zoning, minutes from downtown.
      25073 Marion Ave, Punta Gorda, FL 33950
      View Details
    • $2,699,000
      10,000 SF

      Punta Gorda Commercial Investment Opportunity

      Commercial building in Punta Gorda, suitable for medical use.
      525 E Olympia Ave, Punta Gorda, FL 33950
      View Details
    • New
      $150,000
      0.97 Acres

      Commercial Land in Punta Gorda

      Nearly an acre of commercial property with flexible uses.
      602 Drury Ln, Punta Gorda, FL 33950
      View Details
    • $699,000
      1.70 Acres

      Turn-Key Medical Office Condo

      2,255+/- Sq. Ft. medical office condo in Punta Gorda.
      25086 E Olympia Ave, Punta Gorda, FL 33950
      View Details
    • $2,000,000
      16.82 Acres

      Prime Punta Gorda Waterfront Land

      17± Acres, Riverfront Estate Site
      26082 Shore Dr, Punta Gorda, FL 33950
      View Details
    • $1,100,000

      Punta Gorda Industrial Property

      Industrial property available for sale in Punta Gorda, Florida.
      1700 Steadley Ave, Punta Gorda, FL 33950
      View Details

    Similar Nearby for Lease

    • $5,400 /Mo

      Punta Gorda Corporate Suites

      Customizable office suites available in downtown Punta Gorda.
      223 Taylor St, Punta Gorda, FL 33950
      View Details
    • $816,959

      Punta Gorda Isles Retail/Office Units

      Retail and office units in Punta Gorda Isles available.
      1125 Bal Harbor Blvd, Punta Gorda, FL 33950
      View Details
    • $25,680

      Downtown Punta Gorda Office Space

      Prime location with versatile offices and reception area.
      403 Sullivan St, Punta Gorda, FL 33950
      View Details
    • $73 SF/Yr
      489 SF

      Punta Gorda Executive Suites

      Furnished Offices, Prime Location
      1203 Marion Ave, Punta Gorda, FL 33950
      View Details
    • $10,200 /Mo

      Office Space Near Justice Center

      Office space with reception, two offices, and restroom.
      265 E Marion Ave, Punta Gorda, FL 33950
      View Details
    • Contact for pricing
      7,645 SF

      Versatile Commercial Space in Punta Gorda

      Commercial space for rent in the heart of Punta Gorda.
      401 E Olympia Ave, Punta Gorda, FL 33950
      View Details
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    308 Sullivan St
    Punta Gorda, FL 33950-4856
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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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