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Property profile & analytics
OFF-MARKET
Estimated value
$380,000
Medical Office Space
3123 Southgate Cir Ste A Sarasota, FL 34239-5593
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-9340890
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,872 SF
Lot
0.28 ac (12,000 SF)
Zoning code
CN
APN
0059-05-0001
UPID
US18-9340890
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
-
Sunset Realty: Jennifer Bennett Real Estate Agency
-
Joseph F Arme DC PA Alternative Medicine Practice
-
Circle Chiropractic Alternative Medicine Practice
-
Elysha Zamora Alternative Medicine Practice Acupuncture
-
Allen & Wikoff Team - Sunset Realty [ Carolyn Allen & Nick Wikoff ] Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$810k
Comparable Approach
Comparable
$837k
Blend (final)
Blend
$380k
Owner & transaction history
Southgate Circle Investments LLC · 8 yrs held
Southgate Circle Investments LLC
since 2018
2 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
Auto repair, garage
$1.3M
+30.1%
Retail stores
$1.1M
+16.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$880,000
6.5%
$810,000
7%
$755,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$970,000
Current use
AUTO REPAIR, GARAGE
$1,260,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$1,135,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$380k
Range $342k – $418k · ±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
$132 / 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
$7,660
Tax year 2023
Assessed value
$572,800
Assessed 2023
Previous assessed
$485,200
+18.1% YoY
Effective rate
1.34%
On assessed value
Assessed land
$240,200
Assessed improvement
$332,600
Land market value
$240,200
Improvement market value
$332,600
Total market value
$572,800
Applied tax rate
1,300.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
2
Bathrooms
2
Total area
2,872 SF
Lot
0.28 ac (12,000 SF)
Zoning code
CN
APN
0059-05-0001
UPID
US18-9340890
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
MEDICAL BUILDING Current
Est. value
$970,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
2
Bathrooms
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Southgate Circle Investments LLC
Entity
Mailing address
3123 SOUTHGATE CIR, SARASOTA, FL 34239-5515
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2018
$603,800
Southgate Circle Investments LLC
Joseph F Arme
Warranty Deed
$515,500 · Branch Banking And Trust Co
May 6, 2008
$800,000
Joseph F Arme Dc Pa
Miller,melvin P & Lavina E
Warranty Deed
$720,000 · Melvin P & Lavina E Miller
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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