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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5620 Palmer Blvd Sarasota, FL 34232-2736

    • Retail space
    • 6,600 SF
    • 0.54 lot acres
    OFF-MARKET
    Last Sale
    Apr 23, 2020
    $1,034,000
    Value Estimations
    $1,825,000
    Show details
    Cap Rate Potential
    6.1%
    Retail space
    Location Intelligence
    Property ID
    US18-1802755
    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

    • Retail space

    Property Details for 5620 Palmer Blvd

    Year built
    1967
    Lot size
    0.54 lot acres
    Property size
    6,600 SF
    Zone code
    ILW
    Property type
    Retail space
    APN
    0048-11-0101
    APU
    48110101

    Description

    This exceptional Class A commercial property, located at 5620 Palmer Blvd in Sarasota, Florida 34232, presents a unique investment opportunity. The 23,328 square foot building is situated on a corner lot, offering excellent visibility and accessibility. Priced at $1,995,000 ($85.52/sq ft), this multi-tenant property features a flexible layout suitable for a variety of uses. Currently configured as four separate units, the space seamlessly blends office and flex space. A spacious front area is ideal for retail displays or office setups, while a rear area provides ample warehouse or storage space. The property is zoned ILW (Industrial Light & Warehousing), allowing for diverse business operations. Each unit is equipped with central air conditioning. Its convenient location, a short drive from Interstate 75 and near Sarasota's attractions, ensures high visibility and easy access for both employees and customers. This NNN lease property represents a compelling investment opportunity in a thriving Sarasota market. The property's versatility and prime location make it an attractive option for both owner-occupiers and investors seeking strong rental income potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,700,000
      ML approach
      $1,650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,720,000
      6.5%
      $1,585,000
      7%
      $1,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,795,000
      Market price range: $1.58M - $4.45M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,605,000
      Current use
      OFFICE BUILDING
      $2,710,000
      Change: +4% Conversion: Easy
      MEDICAL BUILDING
      $2,625,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4569
    Latitude
    27.3265
    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
    $13,623
    $346,600
    $763,000
    $1,109,600
    -
    $346,600
    $763,000
    $1,109,600

    Comparable in this City

    • Value Estimation
      $460,000
      5,000 SF

      6000 Palmer Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      6000 Palmer Blvd, Sarasota, FL 34232-2844
      View Details
    • Value Estimation
      $420,000
      2,945 SF

      3692 Webber St

      RETAIL STORES (PERSONAL SERVICES) • 2,945 SF
      3692 Webber St, Sarasota, FL 34232-4413
      View Details
    • Value Estimation
      $320,000
      1,399 SF

      3671 Webber St

      STORE, RETAIL OUTLET • 1,399 SF
      3671 Webber St, Sarasota, FL 34232-4439
      View Details
    • Value Estimation
      $730,000
      8,373 SF

      3650 Webber St

      RETAIL STORES (PERSONAL SERVICES) • 8,373 SF
      3650 Webber St, Sarasota, FL 34232-4413
      View Details
    • Value Estimation
      $495,000
      4,633 SF

      3606 Webber St

      RETAIL STORES (PERSONAL SERVICES) • 4,633 SF
      3606 Webber St, Sarasota, FL 34232-4413
      View Details
    • Value Estimation
      $1,350,000
      6,800 SF

      15 Beneva Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,800 SF
      15 Beneva Rd, Sarasota, FL 34232-1452
      View Details

    Similar Nearby for Sale

    • $2,250,000
      7,500 SF

      Sarasota Retail Investment

      7,500 SF, 5 Units, New Construction
      124 Houle Ave, Sarasota, FL 34232
      View Details
    • $699,000
      2,934 SF

      Sarasota Retail/Office Building For Sale

      2,934 SF retail/office building in the heart of Sarasota.
      3623 Webber St, Sarasota, FL 34232
      View Details
    • $1,690,000
      7,928 SF

      Freestanding Retail Building For Sale

      Fully leased retail building at Fruitville Forum Center.
      15 Beneva Rd, Sarasota, FL 34232
      View Details
    • $1,700,000
      4,399 SF

      Restaurant/Retail Property with Drive-Thru

      High-profile corner location with drive-thru, ideal for owner-user.
      1199 N Beneva Rd, Sarasota, FL 34232
      View Details
    • $6,752,900
      24,822 SF

      Fully Leased Retail Strip Center

      24,822 SF retail strip with high-traffic location.
      5660-5686 Fruitville Rd, Sarasota, FL 34232
      View Details
    • $1,350,000
      5,601 SF

      Prime Commercial Space For Sale

      High-visibility commercial space with income potential in a prime location.
      3615 Webber St, Sarasota, FL 34232
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,715 SF

      Retail Space in Sarasota Commons

      Retail space for lease in central Sarasota location.
      939 N Beneva Rd, Sarasota, FL 34232
      View Details
    • $5,000 /Mo
      2,706 SF

      Commercial Building on High-Traffic Corner

      2,700+ SF commercial building in high-traffic Sarasota location.
      910 Cattlemen Rd, Sarasota, FL 34232
      View Details
    • $1,750 /Mo
      650 SF

      Sarasota Office or Retail Space

      650 SF unit ideal for office or retail use.
      3650 Webber St, Sarasota, FL 34232
      View Details
    • Contact for pricing
      9,504 SF

      Retail Space Near Legacy Trail

      Retail space near Earth Origins and Legacy Trail.
      1205 S Beneva Rd, Sarasota, FL 34232
      View Details
    • $17 SF/Yr
      37,856 SF

      Cattlemen Road Flex Space Available

      Prime Sarasota Flex Warehouse, Retail Frontage
      1575 Cattlemen Rd, Sarasota, FL 34232
      View Details
    • Contact for pricing
      3,250 SF

      Grocery Anchored Shopping Center Space

      Dominant shopping center with high visibility and tenant synergy.
      5301-5541 Fruitville Rd, Sarasota, FL 34232
      View Details
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    5620 Palmer Blvd
    Sarasota, FL 34232-2736
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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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