Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5900 Driftwood Ave Sarasota, FL 34231

    • Commercial real estate
    • 3,687 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9975058
    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

    • Commercial real estate

    Property Details for 5900 Driftwood Ave

    Year built
    1952
    Lot size
    0.34 lot acres
    Property size
    3,687 SF
    Property type
    Commercial real estate
    APN
    0105080081

    Description

    This exceptional Sarasota triplex, located west of the trail and just a block from Sarasota Bay and Phillippi Estate Park, presents a unique investment opportunity. The property features a completely remodeled main house boasting over 1,700 square feet of living space, including three bedrooms, two bathrooms, a modern kitchen, open living area, an additional family room, impact windows, and a screened-in pool with bay views. A separate two-story guest house offers two large studio apartments, the upper unit featuring a balcony with bay views. The guest house has its own private driveway. Situated on two combined lots totaling nearly 15,000 square feet, this property provides ample space and privacy. The property's RMF2 zoning allows for various uses. Built in 1952 and extensively renovated in 2022, this 3,687 square foot property offers 3,375 square feet of net rentable space across three units. Currently rented month-to-month and offered turnkey-furnished, this property provides excellent potential for passive income. Its prime location, just 1.5 miles from the beach and a block from Phillippi Estate Park and local amenities, ensures high demand and strong rental potential. The property's proximity to new construction further enhances its value and desirability. This multi-generational living option or home office/studio opportunity is a rare find in this desirable Sarasota neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.53454795156
    Latitude
    27.266220308357

    Comparable in this City

    • $2,100,000

      Sarasota Apartments Near Siesta Key

      12-unit apartment complex, 10 minutes from Siesta Key.
      2730 Hope St, Sarasota, FL 34231
      View Details
    • $98,500

      Sarasota Multifamily Investment Opportunity

      Multifamily property for sale in Sarasota, Florida.
      2029 Sun Home St, Sarasota, FL 34231
      View Details
    • $359,777

      Income Producing Duplex Near US41

      Income-generating duplex with leases in place, convenient location.
      2029 Palm Ter, Sarasota, FL 34231
      View Details
    • $849,000
      1,993 SF

      Sarasota Duplex Investment Opportunity

      Prime Siesta Key area duplex, two units.
      1860 Southpointe Dr, Sarasota, FL 34231
      View Details
    • $825,000
      1,628 SF

      Remodeled Duplex Near Siesta Key

      Sarasota duplex with income potential, near Siesta Key Beach.
      2237 Michele Dr, Sarasota, FL 34231
      View Details
    • $849,000

      Sarasota Duplex with RV Hookup

      Duplex in Sarasota with RV hookup and boat dock access.
      1860 Southpointe Dr, Sarasota, FL 34231
      View Details

    Similar Nearby for Sale

    • $2,100,000

      Sarasota Apartments Near Siesta Key

      12-unit apartment complex, 10 minutes from Siesta Key.
      2730 Hope St, Sarasota, FL 34231
      View Details
    • $98,500

      Sarasota Multifamily Investment Opportunity

      Multifamily property for sale in Sarasota, Florida.
      2029 Sun Home St, Sarasota, FL 34231
      View Details
    • $359,777

      Income Producing Duplex Near US41

      Income-generating duplex with leases in place, convenient location.
      2029 Palm Ter, Sarasota, FL 34231
      View Details
    • $849,000

      Sarasota Duplex with RV Hookup

      Duplex in Sarasota with RV hookup and boat dock access.
      1860 Southpointe Dr, Sarasota, FL 34231
      View Details
    • $57,000
      0.10 Acres

      Land in Mobile Estates Community

      Land for mobile home in Sarasota, near Siesta Key.
      2066 Sun Home St. St, Sarasota, FL 34231
      View Details
    • $849,000
      1,993 SF

      Sarasota Duplex Investment Opportunity

      Prime Siesta Key area duplex, two units.
      1860 Southpointe Dr, Sarasota, FL 34231
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      14,386 SF

      Gulf Gate Office Suites Available

      Prime Sarasota Office Space, Flexible Sizes
      3231 Gulf Gate Dr, Sarasota, FL 34231
      View Details
    • $20 SF/Yr
      5,000 SF

      Retail Space on Swift Road

      5,000 SF retail space with high visibility and ample parking.
      5624 Swift Rd, Sarasota, FL 34231
      View Details
    • $35 SF/Yr
      591 SF

      Retail Space with Southern Exposure

      Flexible retail space with good lighting and visibility for lease.
      2170 Robinhood St, Sarasota, FL 34231
      View Details
    • $15 SF/Yr
      6,300 SF

      RPL Associates Bldg: Sarasota Office Space

      12,600 SF Available, Flexible Suites
      1801 Glengary St, Sarasota, FL 34231
      View Details
    • $4,500 /Mo
      3,589 SF

      Freestanding Commercial Building in Sarasota

      3,589 SF freestanding commercial building in Sarasota's Gulf Gate.
      2011 Bispham Rd, Sarasota, FL 34231
      View Details
    • Contact for pricing
      1,095 SF

      Retail Space on Tamiami Trail

      Retail space available at signalized intersection near Siesta Key.
      6555-6571 S Tamiami Trl, Sarasota, FL 34231
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5900 Driftwood Ave
    Sarasota, FL 34231
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.