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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Hotels
5968 Midnight Pass Rd 164 Sarasota, FL 34242-8793
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-3245168
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,268 SF
Zoning code
SKOD; RMF3
APN
0105-13-6252
UPID
US18-3245168
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
$1.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$980k
Owner & transaction history
North Central Capital LLC · 3 yrs held
North Central Capital LLC
since 2023
Last sale
$915,000
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
$1,020,000
ML approach
$1,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±10% · vs last sale $915k (Jan 31 2025)
Last sale anchor
$915k
Jan 31 2025
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
$773 / 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
$9,279
Tax year 2023
Assessed value
$752,100
Assessed 2023
Previous assessed
$610,700
+23.2% YoY
Effective rate
1.23%
On assessed value
Assessed improvement
$752,100
Improvement market value
$752,100
Total market value
$752,100
Applied tax rate
1,800.0000
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
4
Bathrooms
2
Total area
1,268 SF
Zoning code
SKOD; RMF3
APN
0105-13-6252
UPID
US18-3245168
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
2
Current owner
From public records · entity-resolved
North Central Capital LLC
Entity
Free & Clear · 3 yrs held
Mailing address
9417 PROMONTORY CIR, INDIANAPOLIS, IN 46236-8984
Ownership since
2023
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
Mar 10, 2023
—
North Central Capital LLC
Bay Breeze Capital LLC
Warranty Deed
—
Nov 16, 2022
$830,000
Bay Breeze Capital LLC
Erica Briody
Warranty Deed
—
Feb 3, 2014
$464,000
Erica Briody
Farello,thomas A & Marilyn T
Warranty Deed
—
Jan 14, 2005
$730,000
Thomas A Farello
Gerald L Schmitt
Warranty Deed
$584,000 · Wells Fargo Bank NA
—
—
Gerald L Schmitt
—
Deed Of Trust
related
$50,000 · Bank Of America
—
—
Gerald L Schmitt
—
Deed Of Trust
related
$97,597 · Bank Of America
—
—
Gerald L Schmitt
—
Deed Of Trust
related
$50,000 · Bank Of America
—
—
Gerald L Schmitt
—
Deed Of Trust
related
$77,022 · Barnett Bank
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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