Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Theaters & concert halls
506 Burns Ln Sarasota, FL 34236-7030
Entity Owned
Free & Clear
Property ID
US18-4009624
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,454 SF
Lot
0.14 ac (6,000 SF)
Zoning code
DTC
APN
2027-11-0053
UPID
US18-4009624
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$505k
Owner & transaction history
SARASOTA FILM SOCIETY INC
SARASOTA FILM SOCIETY INC
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
screening between registered vacation rentals and single family uses; modify the definition for restaurants and add language to facilitate outdoor restaurants and seating; permit mobile food trucks as a permitted use in DTC zone district and simplify approval process, and make minor text revisions to site plan criteria, site plans in the downtown, and condit…
Zone name
Downtown Core
General category
MIXED_USE
Zone area
248.50 ac
Source
Home | City of Sarasota
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
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$770,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$93 / 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
$2,794
Tax year 2023
Assessed value
$1,412,600
Assessed 2023
Previous assessed
$1,358,800
+4.0% YoY
Effective rate
0.20%
On assessed value
Assessed land
$821,400
Assessed improvement
$591,200
Land market value
$821,400
Improvement market value
$591,200
Total market value
$1,412,600
Applied tax rate
200.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
6
Bathrooms
20
Total area
5,454 SF
Lot
0.14 ac (6,000 SF)
Zoning code
DTC
APN
2027-11-0053
UPID
US18-4009624
Jurisdiction
SARASOTA
Zoning & alternative use
DTC · Sarasota, FLZoning DTC · permitted uses
DTC · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
screening between registered vacation rentals and single family uses; modify the definition for restaurants and add language to facilitate outdoor restaurants and seating; permit mobile food trucks as a permitted use in DTC zone district and simplify approval process, and make minor text revisions to site plan criteria, site plans in the downtown, and conditional use criteria. 22-5414 (PDF, 6MB) 22-5415 Primary Grid Streets (22-ZTA-02) - A
Zone name
Downtown Core
General category
MIXED_USE
Zone area
248.50 ac
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$770,000
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
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
6
Bathrooms
20
Lot
0.14 ac
Current owner
From public records · entity-resolved
SARASOTA FILM SOCIETY INC
Entity
Free & Clear · 0 yrs held
Mailing address
10715 RODEO DR #8, LAKEWOOD RANCH, FL 34202-5061
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 506 Burns Ln?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
