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Property profile & analytics
OFF-MARKET
Estimated value
$5,240,000
Turn key restaurants
6390 Lockwood Rdg Rd Sarasota, FL 34243-2531
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-3292949
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1994
Total area
6,151 SF
Lot
1.65 ac (72,064 SF)
Zoning code
CG
APN
0020-02-0006
UPID
US18-3292949
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
-
Parkway Collections Grocery & Convenience Store Food Market
-
Restaurante Restaurant
-
Outback Steakhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.04M
Blend (final)
Blend
$5.24M
Owner & transaction history
Fcpt Holdings LLC · 5 yrs held
Fcpt Holdings LLC
since 2021
Last sale
$4.3M
5 recorded transactions
Zoning & alternative use
CG · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.3M
+13.1%
Commercial (general)
$4.3M
+12.4%
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
$6,270,000
ML approach
$6,210,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,815,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,315,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,285,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$5.24M
Range $4.72M – $5.76M · ±10% · vs last sale $4.34M (Jan 5 2021)
Last sale anchor
$4.34M
Jan 5 2021
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
$852 / 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
$39,627
Tax year 2023
Assessed value
$3,323,800
Assessed 2023
Previous assessed
$2,869,600
+15.8% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,204,900
Assessed improvement
$2,118,900
Land market value
$1,204,900
Improvement market value
$2,118,900
Total market value
$3,323,800
Applied tax rate
100.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1994
Heating
YES
Cooling
YES
Stories
1
Rooms
3
Bathrooms
3
Total area
6,151 SF
Lot
1.65 ac (72,064 SF)
Zoning code
CG
APN
0020-02-0006
UPID
US18-3292949
Jurisdiction
SARASOTA
Zoning & alternative use
CG · Sarasota, FL
Zoning CG · permitted uses
CG · 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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$4.3M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Heating
YES
Cooling
Yes
Stories
1
Rooms
3
Bathrooms
3
Lot
1.65 ac
Current owner
From public records · entity-resolved
Fcpt Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
591 REDWOOD HWY FRONTAGE RD STE #3215, MILL VALLEY, CA 94941-6006
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2021
$4,343,100
Fcpt Holdings LLC
Bayrock Central LLC
Special Warranty Deed
—
Jul 6, 2016
$4,669,100
Bayrock Central LLC
New Private Restaurant Props L
Grant Deed
$3,361,721 · Florida Cmnty Bk
Apr 3, 2012
—
New Private Restaurant Props L
Private Restaurant Props LLC
Quit Claim Deed
—
Jul 5, 2007
—
Osf Real Estate LLC
Outback Steakhouse Of Florida INC
Grant Deed
—
—
—
New Private Restaurant Props L
—
Loan Modification
related
$300,000,000 · Wells Fargo Bk
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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