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    Property profile & analytics

    408 Casey Key Rd Nokomis, FL 34275-3335

    • Hotels
    • 4,466 SF
    • 1.12 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2023
    $6,250,000
    Value Estimations
    $6,255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2917734
    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

    • Jetties Pointe / Hotel / Vacation Home Rental Agency
    • Casey Key Florida Vacation Rentals - West Wind Apartments / Vacation Home Rental Agency / Apartment Building

    Property Details for 408 Casey Key Rd

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.12 lot acres
    Property size
    4,466 SF
    Zone code
    RE2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    0174-07-0003
    APU
    174070003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,295,000
      ML approach
      $6,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,572,000
      Market price range: $3.26M - $6.57M
      AI Estimate
      $4,128,000
      Market price range: $1.56M - $4.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Nokomis
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4699
    Latitude
    27.1202
    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
    $35,874
    $2,975,000
    $807,900
    $3,782,900
    -
    $2,975,000
    $807,900
    $3,782,900

    Comparable in this City

    • Value Estimation
      $415,000
      1,532 SF

      320 Casey Key Rd1a

      HOTEL/MOTEL • 1,532 SF
      320 Casey Key Rd1a, Nokomis, FL 34275-3305
      View Details
    • Value Estimation by Request
      3,029 SF

      221 Casey Key Rd

      HOTEL/MOTEL • 3,029 SF
      221 Casey Key Rd, Nokomis, FL 34275-3371
      View Details
    • Value Estimation
      $1,145,000
      1,443 SF

      306 Casey Key Rd

      HOTEL/MOTEL • 1,443 SF
      306 Casey Key Rd, Nokomis, FL 34275-3305
      View Details
    • Value Estimation
      $515,000
      1,056 SF

      3905 Casey Key Rd

      HOTEL/MOTEL • 1,056 SF
      3905 Casey Key Rd, Nokomis, FL 34275-3332
      View Details
    • Value Estimation
      $530,000
      2,616 SF

      117 Casey Key Rd

      HOTEL/MOTEL • 2,616 SF
      117 Casey Key Rd, Nokomis, FL 34275-3304
      View Details
    • Value Estimation
      $855,000
      3,313 SF

      212 Casey Key Rd

      HOTEL/MOTEL • 3,313 SF
      212 Casey Key Rd, Nokomis, FL 34275-3320
      View Details

    Similar Nearby for Sale

    • $4,195,000
      2,990 SF

      Beachfront Hotel-Zoned Investment Opportunity

      Income-producing beachfront property on Casey Key, zoned for motel/hotel use.
      217 Casey Key Rd, Nokomis, FL 34275
      View Details
    • $4,000,000
      11,820 SF

      1000 Tamiami Trl

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      1000 Tamiami Trl, Nokomis, FL 34275
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    • $399,000
      1,593 SF

      Nokomis Class A Office/Warehouse

      Class A office and warehouse condo in Triple Diamond Park.
      180 Triple Diamond Blvd, North Venice, FL 34275
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    • $99,000

      Land For Sale Nokomis

      Land available for sale in Nokomis, Florida.
      835 Hollowood Cir, Nokomis, FL 34275
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    • $589,900
      2,950 SF

      Nokomis Quadruplex Near Waterfront

      Quadruplex in Nokomis, Florida, near bays, restaurants, and tiki bars.
      114 Nippino Trl W, Nokomis, FL 34275
      View Details
    • $249,000
      0.19 Acres

      Cleared Lot in Bayshore Acres

      Build-ready lot near Nokomis Beach and local amenities.
      216 Pavonia Rd, Nokomis, FL 34275
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,468 SF

      Nokomis Medical Office Opportunity

      Prime Medical Office Building - South Sarasota
      498 Tamiami Trl, Nokomis, FL 34275
      View Details
    • Contact for pricing

      Nokomis Residential Land Parcel

      Vacant lot, prime Nokomis location.
      0 Laurel Rd, Nokomis, FL 34275
      View Details
    • Contact for pricing
      54,189 SF

      Nokomis Industrial Facility For Lease

      54,189± SF industrial facility perfect for manufacturing/distribution.
      201 Triple Diamond Blvd, Nokomis, FL 34275
      View Details
    • $535,000
      1,974 SF

      Nokomis Retail Space Available

      Retail space featuring a reception area and large open area.
      3469 Precision Dr, Nokomis, FL 34275
      View Details
    • Contact for pricing
      6,227 SF

      Prime Retail Location in Nokomis

      Highly visible retail site in a rapidly growing community.
      3469-3489 Precision Dr, Nokomis, FL 34275
      View Details
    • $3 SF/Yr
      38,531 SF

      Nokomis Commercial Land For Rent

      Commercial land for rent with high-traffic frontage on Tamiami Trail.
      831 Tamiami Trl N, Nokomis, FL 34275
      View Details
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    Nokomis, FL 34275-3335
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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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