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Property profile & analytics
OFF-MARKET
Estimated value
$15,895,000
Community centers
47 Palm Ave Sarasota, FL 34236-5699
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-5369776
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,713 SF
Lot
1.11 ac (48,420 SF)
Zoning code
DTC
APN
2027-06-0042
UPID
US18-5369776
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
-
Perisic Builders Inc Construction Company
-
Alliance Solutions Group, LLC Business Management Consultant Software Company
-
Michael Peters Yacht Design Professional Services
-
socialShift Advertising Agency Marketing & Advertising
-
Suncoast Premier Realty Services Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.98M
Blend (final)
Blend
$15.90M
Owner & transaction history
Miramar Acquisition Company LLC · 3 yrs held
Miramar Acquisition Company LLC
since 2023
Last sale
$17.3M
5 recorded transactions
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$17.2M
+12.9%
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
$18,745,000
ML approach
$11,070,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$15,230,000
Current use
RETAIL STORES
$17,195,000
Change: +13% · Conversion: Easy
COMMERCIAL (GENERAL)
$15,130,000
Change: -1% · Conversion: Easy
OFFICE BUILDING
$13,725,000
Change: -10% · Conversion: Moderate
RESTAURANT
$13,465,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$15.90M
Range $14.31M – $17.48M · ±10% · vs last sale $17.34M (May 24 2023)
Last sale anchor
$17.34M
May 24 2023
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
$732 / 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
$175,967
Tax year 2023
Assessed value
$9,607,100
Assessed 2023
Previous assessed
$7,669,500
+25.3% YoY
Effective rate
1.83%
On assessed value
Assessed land
$4,993,600
Assessed improvement
$4,613,500
Land market value
$4,993,600
Improvement market value
$4,613,500
Total market value
$9,607,100
Applied tax rate
9,500.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
3
Stories
3
Rooms
36
Bathrooms
9
Total area
21,713 SF
Lot
1.11 ac (48,420 SF)
Zoning code
DTC
APN
2027-06-0042
UPID
US18-5369776
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FL
Zoning DTC · permitted uses
DTC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$15.2M
RETAIL STORES
Est. value
$17.2M
COMMERCIAL (GENERAL)
Est. value
$15.1M
OFFICE BUILDING
Est. value
$13.7M
RESTAURANT
Est. value
$13.5M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
3
Buildings
3
Rooms
36
Bathrooms
9
Lot
1.11 ac
Current owner
From public records · entity-resolved
Miramar Acquisition Company LLC
Entity
Free & Clear · 3 yrs held
Mailing address
53 S PALM AVE, SARASOTA, FL 34236-5610
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2023
$17,343,005
Miramar Acquisition Company LLC
Mark S Kauffman
Warranty Deed
—
May 24, 2023
—
Mark S Kauffman
Miramar Plaza Associates Ltd
Warranty Deed
—
—
—
Miramar Plaza Associates Ltd
—
Deed Of Trust
related
$3,200,000 · Wells Fargo Bk
—
—
Miramar Plaza Associates Ltd
—
Deed Of Trust
related
$1,140,000 · American Momentum Bank
—
—
Miramar Plaza Associates Ltd
—
Deed Of Trust
related
$1,450,000 · Florida Community Bank
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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