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Property profile & analytics
OFF-MARKET
Estimated value
$3,640,000
Retail space
3110 Fruitville Cmns Blvd 101 Sarasota, FL 34240-2726
Entity Owned
3-yr Hold
Free & Clear
Property ID
US19-0144883
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,612 SF
Lot
0.38 ac (16,719 SF)
Zoning code
PED
APN
0215-03-1005
UPID
US19-0144883
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.78M
Blend (final)
Blend
$3.64M
Owner & transaction history
Mje Property Investment Group LLC · 3 yrs held
Mje Property Investment Group LLC
since 2023
Last sale
$3.5M
1 recorded transaction
Zoning & alternative use
PED · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.9M
+77.6%
Commercial (general)
$3.9M
+76.5%
Restaurant
$3.5M
+57.1%
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
$3,785,000
ML approach
$4,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,215,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,935,000
Change: +78% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,910,000
Change: +76% · Conversion: Easy
RESTAURANT
$3,480,000
Change: +57% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,465,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$2,230,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$3.64M
Range $3.28M – $4.00M · ±10% · vs last sale $3.50M (Apr 10 2023)
Last sale anchor
$3.50M
Apr 10 2023
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
$649 / 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
$29,204
Tax year 2023
Assessed value
$2,380,500
Assessed 2023
Previous assessed
$1,504,800
+58.2% YoY
Effective rate
1.23%
On assessed value
Assessed land
$895,000
Assessed improvement
$1,485,500
Land market value
$895,000
Improvement market value
$1,485,500
Total market value
$2,380,500
Applied tax rate
100.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
5,612 SF
Lot
0.38 ac (16,719 SF)
Zoning code
PED
APN
0215-03-1005
UPID
US19-0144883
Jurisdiction
SARASOTA
Zoning & alternative use
PED · Sarasota, FL
Zoning PED · permitted uses
PED · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sarasota. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.9M
RESTAURANT
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.2M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Mje Property Investment Group LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5929 SILVER SAGE WAY, SARASOTA, FL 34232-2376
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2023
$3,500,000
Mje Property Investment Group LLC
Fruitville Sarasota LLC
Special Warranty Deed
—
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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