Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3470 Fruitville Rd Sarasota, FL 34237-9024
    Property profile & analytics

    3470 Fruitville Rd, Sarasota, FL 34237-9024

    View on Map
    • Hotels
    • 70,808 SF
    • 3.69 lot acres
    Off-Market
    Property ID
    US18-2073691
    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.
    Value Estimations
    $17,710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Homewood Suites by Hilton Sarasota / Hotel & Motel / Vacation Rental
    • Compassionate Friends of Sarasota / Charitable Organization / Social Service Agency
    • Sarasota Hotel / Hotel & Motel / Bed & Breakfast
    • Cornerstone Baptist Church / Church

    Property Details for 3470 Fruitville Rd

    Year built
    2005
    Lot size
    3.69 lot acres
    Zone code
    RMF4
    Property type
    Hotels
    Property subtype
    Motels
    APN
    2031-01-0004
    APU
    2031010004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2019 $12,950,000 Cfoc Sarasota Fl LLC Apple Seven Hospitality Ownshp Grant Deed $88.1M · Tpg Re Fin 11 Ltd
    Sep 19, 2006 $13,085,000 Apple Seven Hospitality Owners Merca Real Estate LLC Warranty Deed —
    Oct 12, 2004 — Merca Real Estate LLC — Trustees Deed · related $467k · Stearns Bank NA
    Apr 26, 2004 — Merca Real Estate LLC — Trustees Deed · related $3.8M · Stearns Bank NA
    Jul 11, 2002 $1,400,000 Merca Real Estate LLC Marlin Real Estate Holdings Grant Deed $1.3M · Bank Of St Petersburg
    Apr 23, 1999 — Marlin Real Estate Holdings In Darmorr Properties Ltd Ptnshp Trustees Deed · related —
    — — Merca Real Estate LLC — Deed Of Trust · related $1.9M · Ge Capital Franchise Finance

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $19,690,000
      Market price range: $19.7M - $49.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5004
    Latitude
    27.3369
    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
    $136,947
    $2,500,000
    $6,486,000
    $8,986,000
    -
    $2,500,000
    $6,486,000
    $8,986,000

    Comparable in this City

    • Value Estimation by Request

      128 Briggs Ave

      Land
      128 Briggs Ave, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      0.20 Acres

      720 Apricot Ave

      INDUSTRIAL - VACANT LAND
      720 Apricot Ave, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      0.57 Acres

      1521 Stringfield Ave

      WASTE DISPOSAL, SEWAGE
      1521 Stringfield Ave, Sarasota, FL 34237-3007
      View Details
    • Value Estimation
      $4,750,000
      42,379 SF

      2530 12th St

      WAREHOUSE, STORAGE
      2530 12th St, Sarasota, FL 34237-2944
      View Details
    • Value Estimation by Request
      513 SF

      2201 Ringling Blvd Ste, Unit 103

      CONDOMINIUM OFFICES
      2201 Ringling Blvd Ste, Sarasota, FL 34237-6126
      View Details
    • Value Estimation by Request
      821 SF

      2831 Ringling Blvd Ste, Unit 112

      CONDOMINIUM OFFICES
      2831 Ringling Blvd Ste, Sarasota, FL 34237-5334
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Downtown Sarasota Development Opportunity

      1.92 acre site in bustling downtown area, ideal for development.
      2250 Fruitville Rd, Sarasota, FL 34237
      View Details
    • $2,200,000

      Sarasota Redevelopment Opportunity Zone Assemblage

      Five-parcel assemblage in Sarasota's Park East neighborhood.
      2050 10Th St, Sarasota, FL 34237
      View Details
    • $730,000

      Updated Office Units Package

      Two updated office units near downtown Sarasota, move-in ready.
      234 N Rhodes Ave, Sarasota, FL 34237
      View Details
    • $500,000
      0.26 Acres

      Residential Land in Desirable Location

      Spacious corner lot ready for new construction near downtown Sarasota.
      2414 Pelican Dr, Sarasota, FL 34237
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,314 SF

      Downtown Sarasota Office/Medical Space

      Premier office and medical space in downtown Sarasota's Kane Plaza.
      1 South School Ave, Sarasota, FL 34237
      View Details
    • Contact for pricing
      1,050 SF

      Luxury Solo Office Space

      Conveniently located luxury office space available for rent.
      2389 Ringling Blvd, Sarasota, FL 34237
      View Details
    • Contact for pricing
      2,500 SF

      Renovated Retail Space in Sarasota

      Retail space in Sarasota's Limelight District, renovated in 2023.
      923-929 Lime Ave, Sarasota, FL 34237
      View Details
    • $24,000

      Warehouse/Shop Area Near Downtown

      Warehouse/shop space with loft area, suitable for small business.
      2024 Princeton St, Sarasota, FL 34237
      View Details
    • $43,200

      Renovated Flex Space Near Downtown

      Excellent, renovated flex space near downtown and Orioles baseball park.
      2135 12Th St, Sarasota, FL 34237
      View Details
    • $2,000 /Mo
      1,100 SF

      Sarasota Office Space Available

      Office space for rent in Sarasota with flexible options.
      2063 Main St, Sarasota, FL 34237
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3470 Fruitville Rd
    Sarasota, FL 34237-9024
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3470 Fruitville Rd, Sarasota, FL, 34237
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!