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Property profile & analytics
OFF-MARKET
Estimated value
$13,160,000
Assisted living facilities
4602 Northgate Ct Sarasota, FL 34234-2125
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-3554630
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,070 SF
Lot
5.4 ac (235,224 SF)
Zoning code
RMF2
APN
0025-16-0025
UPID
US18-3554630
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
-
Siesta Key Health and Rehabilitation Center Nursing Home
-
Under new management: Springwood Center Nursing Home
-
Glennise Florida Physician
-
Alyson Klein Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.64M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.16M
Owner & transaction history
Sarasota Fl Propco LLC · 6 yrs held
Sarasota Fl Propco LLC
since 2020
Last sale
$13.4M
4 recorded transactions
Zoning & alternative use
RMF2 · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$13.3M
+287.2%
Commercial (general)
$12.1M
+251.6%
Restaurant
$9.6M
+178.1%
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
by Request
ML approach
$12,640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$13,295,000
Change: +287% · Conversion: Difficult
COMMERCIAL (GENERAL)
$12,075,000
Change: +252% · Conversion: Difficult
RESTAURANT
$9,550,000
Change: +178% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,110,000
Change: +165% · Conversion: Difficult
Blend value · Realmo final
$13.16M
Range $11.84M – $14.48M · ±10% · vs last sale $13.42M (Apr 21 2020)
Last sale anchor
$13.42M
Apr 21 2020
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
$292 / 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
$61,394
Tax year 2023
Assessed value
$4,193,300
Assessed 2023
Previous assessed
$4,216,100
-0.5% YoY
Effective rate
1.46%
On assessed value
Assessed land
$1,152,000
Assessed improvement
$3,041,300
Land market value
$1,152,000
Improvement market value
$3,041,300
Total market value
$4,193,300
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Rooms
87
Bathrooms
68
Total area
45,070 SF
Lot
5.4 ac (235,224 SF)
Zoning code
RMF2
APN
0025-16-0025
UPID
US18-3554630
Jurisdiction
SARASOTA
Zoning & alternative use
RMF2 · Sarasota, FL
Zoning RMF2 · permitted uses
RMF2 · 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
MEDICAL BUILDING
Est. value
$13.3M
COMMERCIAL (GENERAL)
Est. value
$12.1M
RESTAURANT
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$9.1M
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Rooms
87
Bathrooms
68
Lot
5.4 ac
Current owner
From public records · entity-resolved
Sarasota Fl Propco LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2020
$12,839,800
Sarasota Fl Propco LLC
Lg-ohi Sarasota LLC
Grant Deed
related
$54,455,320 · Vnb New York LLC
Nov 9, 2016
$13,421,500
Lg-ohi Sarasota LLC
Hh Florida LLC
Special Warranty Deed
—
Dec 7, 2004
$4,000,000
Hh Florida LLC
Thci Co LLC
Grant Deed
—
—
—
Lg-ohi Sarasota LLC
—
Loan Modification
related
$555,000,000 · Morgan Stanley Bk
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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