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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Hotels
5961 Midnight Pass Rd 306 Sarasota, FL 34242-8788
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2101238
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,000 SF
Zoning code
SKOD; RMF3
APN
0105-13-6106
UPID
US18-2101238
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
-
Siesta Key For Me @ The Palm Bay Club Vacation Rental Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$785k
Owner & transaction history
Alberto Luis Tapia · 4 yrs held
Alberto Luis Tapia
since 2021
Last sale
$739,500
7 recorded transactions
Zoning & alternative use
SKOD; RMF3 · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$860,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$785k
Range $707k – $864k · ±10% · vs last sale $740k (Sep 20 2024)
Last sale anchor
$740k
Sep 20 2024
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
$785 / 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
$6,159
Tax year 2023
Assessed value
$514,700
Assessed 2023
Previous assessed
$417,900
+23.2% YoY
Effective rate
1.20%
On assessed value
Assessed improvement
$514,700
Improvement market value
$514,700
Total market value
$514,700
Applied tax rate
1,892.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
4
Bathrooms
2
Total area
1,000 SF
Zoning code
SKOD; RMF3
APN
0105-13-6106
UPID
US18-2101238
Jurisdiction
SARASOTA
Zoning & alternative use
SKOD; RMF3 · Sarasota, FL
Zoning SKOD; RMF3 · permitted uses
SKOD; RMF3 · 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.
Building & site characteristics
From public records
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
2
Current owner
From public records · entity-resolved
Alberto Luis Tapia
Individual
Mailing address
2217 DESOTO RD, SARASOTA, FL 34234-3146
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2021
$595,000
Alberto Luis Tapia
Palm Bay Club 306 LLC
Warranty Deed
—
Aug 27, 2008
$368,000
Palm Bay Club 306 LLC
Ib Property Holdings LLC
Grant Deed
—
Feb 22, 2008
—
Ib Property Holdings LLC
Nesbitt,james J & Jacqueline Coc
Trustees Deed
related
—
Jun 30, 1999
$218,000
James J Nesbitt
Gauer,jeanne M & Klaus J
Grant Deed
$174,400 · Downey Savings & Loan Assn Fa
—
—
Jeanne M Gauer
—
Deed Of Trust
related
$72,400 · First Chicago Neighborhood Mtg
—
—
James J Nesbitt
—
Deed Of Trust
related
$386,750 · Allstate Funding
—
—
James J Nesbitt
—
Deed Of Trust
related
$326,250 · Washington Mutual Fsb
—
—
James J Nesbitt
—
Deed Of Trust
related
$186,000 · Washington Mutual Fsb
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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