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    Property profile & analytics

    6292 Tower Ln Sarasota, FL 34240

    • Warehouses
    • 14,040 SF
    • 1.28 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Oct 06, 2022
    $7,300,000
    Value Estimations
    $7,415,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5291743
    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

    • Making It Easy Golf LLC / Golf Instructor
    • Platinum Garage Flooring, LLC / General Contractor / Renovation Specialist
    • Auto Glass Warehouse / Auto Repair Shop / (Bike/Boat/Book/etc) Store
    • Quick Reaction Force Services LLC / Courier Service / Postal Service
    • Paul Davis Restoration of Sarasota and Charlotte County / Hardware & Home Improvement / Construction Company

    Property Details for 6292 Tower Ln

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.28 lot acres
    Property size
    14,040 SF
    Zone code
    PID
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    0216-12-0004
    APU
    216120004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,730,000
      ML approach
      $9,815,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,845,000
      COMMERCIAL (GENERAL)
      $9,785,000
      RESTAURANT
      $8,705,000
      AUTO REPAIR, GARAGE
      $6,170,000
      MEDICAL BUILDING
      $5,580,000
      RETAIL STORES
      $5,545,000
      OFFICE BUILDING
      $4,530,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.446
    Latitude
    27.3303
    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
    $22,417
    $450,000
    $1,128,500
    $1,578,500
    -
    $450,000
    $1,128,500
    $1,578,500

    Comparable in this City

    • Value Estimation
      $2,050,000
      16,200 SF

      8291 Blaikie Ct

      MINI-WAREHOUSE, STORAGE • 16,200 SF
      8291 Blaikie Ct, Sarasota, FL 34240-8323
      View Details
    • Value Estimation
      $1,310,000
      8,700 SF

      7502 Claxstrauss Dr

      MINI-WAREHOUSE, STORAGE • 8,700 SF
      7502 Claxstrauss Dr, Sarasota, FL 34240-9622
      View Details
    • Value Estimation
      $2,295,000
      17,650 SF

      398 Interstate Ct

      MINI-WAREHOUSE, STORAGE • 17,650 SF
      398 Interstate Ct, Sarasota, FL 34240-8765
      View Details
    • Value Estimation
      $2,195,000
      15,000 SF

      7345 International Pl Ste, Unit 101

      MINI-WAREHOUSE, STORAGE • 15,000 SF
      7345 International Pl Ste, Lakewood Ranch, FL 34240-8468
      View Details
    • Value Estimation
      $1,945,000
      10,272 SF

      1951 Porter Lk Dr

      MINI-WAREHOUSE, STORAGE • 10,272 SF
      1951 Porter Lk Dr, Sarasota, FL 34240-8852
      View Details
    • Value Estimation
      $510,000
      3,501 SF

      6260 Colan Pl

      MINI-WAREHOUSE, STORAGE • 3,501 SF
      6260 Colan Pl, Sarasota, FL 34240-9396
      View Details

    Similar Nearby for Sale

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      Sarasota Warehouse - $2.5M

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      High-Clearance Warehouse with Office Space

      15,000 SF warehouse with 2,000 SF office, excellent I-75 visibility.
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    • Contact for pricing
      9,001 SF

      Freestanding Warehouse Investment Opportunity

      Fully leased warehouse building with three units in Eastern Industrial Park.
      1598-1598 Apex Rd, Sarasota, FL 34240
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      Sarasota Warehouse Near Interstate 75

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      15,000 SF warehouse on 1 acre near I-75.
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    Similar Nearby for Lease

    • $21 SF/Yr
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      Office/Warehouse Flex Unit For Rent

      Versatile flex unit with office, warehouse, and convenient access.
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      5,400 SF

      Sarasota Office Warehouse For Lease

      5400 sq ft office warehouse with fenced storage.
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    • $2,395 /Mo
      1,100 SF

      Sarasota Warehouse Space For Lease

      Prime Sarasota warehouse space with restroom and convenient location.
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      View Details
    • Contact for pricing
      2,000 SF

      Office/Warehouse Space Near Fruitville

      Office/warehouse space with easy I-75 access, suitable for industrial use.
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      3,700 SF

      Sarasota Flex Warehouse Space

      3,700± SF flex/warehouse space in prime business corridor.
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    • $18 SF/Yr
      6,600 SF

      6300 Tower Lane Industrial Space

      Fully AC'd flex space near I-75. Divisible.
      6300 Tower Ln, Sarasota, FL 34240
      View Details
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    Sarasota, FL 34240
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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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