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    5896 Cortez W Rd Bradenton, FL 34210-2703
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    Property profile & analytics

    5896 Cortez W Rd, Bradenton, FL 34210-2703

    View on Map
    • Drug stores
    • 14,406 SF
    • 1.41 lot acres
    Off-Market
    Last Sale Mar 4, 2024
    $3,739,400
    Property ID
    US18-4565787
    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.
    Value Estimations
    $3,740,000
    Show details
    Cap Rate Potential
    4.7%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • Walgreens / Pharmacy
    • FedEx OnSite / Postal Service / Courier Service
    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • LibertyX Bitcoin ATM / Atm
    • Walgreens Pharmacy / Pharmacy

    Property Details for 5896 Cortez W Rd

    Year built
    2003
    Lot size
    1.41 lot acres
    Zone code
    BR_SCC
    Property type
    Drug stores
    APN
    51111.2005-0
    APU
    5111120050

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 4, 2024 $3,739,400 Cotrust Wash LLC Walgreen Co Special Warranty Deed $32.8M · Wells Fargo Bank NA
    Mar 4, 2024 — Walgreen Co Cotrust Wash LLC Gift Deed · related $32.8M · Wells Fargo Bank NA
    May 20, 2008 $4,100,000 Walgreen Co Cortez-59 LLC Grant Deed —
    Dec 4, 2002 $1,100,000 Cortez-59 LLC Bank Of America Grant Deed $3M · Bank Of America

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,740,000
      ML approach
      $3,740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,955,000
      6.5%
      $2,725,000
      7%
      $2,530,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,310,000
      Current use
      AUTO REPAIR, GARAGE
      $4,295,000
      Change: -0% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,235,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $3,595,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bradenton
    County
    Manatee
    State
    Florida
    Longitude
    -82.6199
    Latitude
    27.4631
    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
    $44,334
    $662,444
    $1,728,535
    $2,390,979
    -
    $662,444
    $1,728,535
    $2,390,979

    Comparable in this City

    • Value Estimation
      $2,230,000
      12,190 SF

      4302 Cortez W Rd

      DRUG STORE, PHARMACY
      4302 Cortez W Rd, Bradenton, FL 34210-3139
      View Details
    • Value Estimation by Request
      3,090 SF

      9416 Cortez W Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      9416 Cortez W Rd, Bradenton, FL 34210-2005
      View Details
    • Value Estimation
      $2,700,000
      3,785 SF

      5312 Cortez W Rd

      FINANCIAL BUILDING
      5312 Cortez W Rd, Bradenton, FL 34210-2813
      View Details
    • Value Estimation
      $7,945,000
      47,679 SF

      Cortez W Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      Cortez W Rd, Bradenton, FL 34210
      View Details
    • Value Estimation by Request
      3,397 SF

      4511 Bay Clb Dr

      GYM, HEALTH SPA
      4511 Bay Clb Dr, Bradenton, FL 34210-4030
      View Details
    • Value Estimation by Request
      1,560 SF

      8615 Cortez W Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      8615 Cortez W Rd, Bradenton, FL 34210-2202
      View Details

    Similar Nearby for Sale

    • $950,000

      West Bradenton Development Opportunity Site

      Expansive site with Cortez Road frontage, ideal for development.
      5910 Cortez Rd W, Bradenton, FL 34210
      View Details
    • Contact for pricing

      Retail Space in Publix-Anchored Center

      Join a Publix-anchored shopping center and place your retail concept in a retail-focused environment.
      4665 Cortez Rd West, Bradenton, FL 34210
      View Details
    • Contact for pricing

      Auto Repair Business Opportunity

      Auto repair business in high-visibility location near Anna Maria Island.
      10205 Cortez Rd W, Bradenton, FL 34210
      View Details
    • Contact for pricing
      1 SF

      Prime Corner Location on Cortez

      High-visibility commercial land on a major corridor near beaches.
      10601-10611 Cortez Rd W, Bradenton, FL 34210
      View Details
    • $57,000
      0.04 Acres

      Bradenton Buildable Lot Near Island

      Buildable lot in waterfront community, near Anna Maria Island.
      69 W 4Th St W, Bradenton, FL 34210
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    • $1,950,000
      1 SF

      Corner Lot on Cortez Road

      Commercial land available at a corner location.
      10601-10611 Cortez Rd W, Bradenton, FL 34210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,500 SF

      Grocery-Anchored Retail Space Available

      Retail spaces available in grocery-anchored center at a prime location.
      5502-5522 Cortez Rd W, Bradenton, FL 34210
      View Details
    • Contact for pricing
      9,504 SF

      Retail Space in Bradenton Center

      Retail spaces for lease in a Publix-anchored shopping center.
      4601 W Cortez Rd, Bradenton, FL 34210
      View Details
    • Contact for pricing
      800 SF

      Grocery Anchored Retail Center

      Retail spaces available in grocery-anchored center at a major intersection.
      5502-5726 W Cortez Rd, Bradenton, FL 34210
      View Details
    • Contact for pricing

      Retail Space in Remodeled Center

      Retail space available in a newly remodeled shopping center.
      5502 Cortez Rd W, Bradenton, FL 34210
      View Details
    • Contact for pricing

      Retail Space on Cortez Road

      Retail space in high-traffic area near major developments.
      5210 Cortez Rd W, Bradenton, FL 34210
      View Details
    • Contact for pricing

      Office Spaces in Wildewood Park

      Office spaces for lease in Bradenton's Wildewood Professional Park.
      3639 Cortez Rd W, Bradenton, FL 34210
      View Details
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    Bradenton, FL 34210-2703
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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.

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