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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Warehouses
4251 Washington Blvd Sarasota, FL 34234-4800
Entity Owned
7-yr Hold
Free & Clear
Property ID
US18-5467796
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,150 SF
Lot
5.32 ac (231,604 SF)
Zoning code
ILW; CI
APN
0026-08-0002
UPID
US18-5467796
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
-
Dollar General Discount Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
$2.19M
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$1.88M
Owner & transaction history
Ibanez Property Investmentsllc · 7 yrs held
Ibanez Property Investmentsllc
since 2018
3 recorded transactions
Zoning & alternative use
ILW; CI · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,215,000
CAP Approach
CAP Return
Estimation
6%
$2,370,000
6.5%
$2,185,000
7%
$2,030,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,745,000
Current use
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±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
$185 / 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
$56,765
Tax year 2023
Assessed value
$5,254,200
Assessed 2023
Previous assessed
$5,254,200
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$2,205,100
Assessed improvement
$3,049,100
Land market value
$2,205,100
Improvement market value
$3,049,100
Total market value
$5,254,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Total area
10,150 SF
Lot
5.32 ac (231,604 SF)
Zoning code
ILW; CI
APN
0026-08-0002
UPID
US18-5467796
Jurisdiction
SARASOTA
Zoning & alternative use
ILW; CI · Sarasota, FL
Zoning ILW; CI · permitted uses
ILW; CI · 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
WAREHOUSE, STORAGE Current
Est. value
$1.7M
WAREHOUSE, STORAGE Current
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Lot
5.32 ac
Current owner
From public records · entity-resolved
Ibanez Property Investmentsllc
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 667808, MIAMI, FL 33166-9406
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2018
—
Ibanez Property Investmentsllc
Bay West Rentals LLC
Grant Deed
—
Jun 1, 2005
$5,000,000
Bay West Rentals LLC
Bay West Business Center INC
Warranty Deed
$3,000,000 · Suncoast Bank
Mar 5, 1999
$411,700
Bay West Business Center INC
Bersam Development Co
Grant 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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