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Property profile & analytics
OFF-MARKET
Estimated value
$3,615,000
Apartment buildings
650 Central Ave Sarasota, FL 34236-4091
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-9879712
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,842 SF
Lot
1.09 ac (47,580 SF)
Zoning code
DTE
APN
2026-06-0040
UPID
US18-9879712
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
-
Koch Steve DVM Veterinary Clinic
-
DaSaka Salon Hair Salon Nail Salon
-
Sarasota Fitness Studio Gym & Fitness Center
-
Animal Medical Clinic at Rosemary Veterinary Clinic
-
LDS Servicing Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.62M
Owner & transaction history
Top Drawer Furniture LLC · 4 yrs held
Top Drawer Furniture LLC
since 2022
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
DTE · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,465,000
6.5%
$3,200,000
7%
$2,970,000
Alternative Use
Use
Estimation
RESTAURANT
$5,805,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,600,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,220,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.62M
Range $3.25M – $3.98M · ±10% · vs last sale $3.83M (Feb 25 2021)
Last sale anchor
$3.83M
Feb 25 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
$158 / 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
$60,707
Tax year 2023
Assessed value
$3,907,500
Assessed 2023
Previous assessed
$3,402,400
+14.8% YoY
Effective rate
1.55%
On assessed value
Assessed land
$1,241,300
Assessed improvement
$2,666,200
Land market value
$1,241,300
Improvement market value
$2,666,200
Total market value
$3,907,500
Applied tax rate
200.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
6
Total area
22,842 SF
Lot
1.09 ac (47,580 SF)
Zoning code
DTE
APN
2026-06-0040
UPID
US18-9879712
Jurisdiction
SARASOTA
Zoning & alternative use
DTE · Sarasota, FL
Zoning DTE · permitted uses
DTE · 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
Est. value
$5.8M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.2M
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
6
Lot
1.09 ac
Current owner
From public records · entity-resolved
Top Drawer Furniture LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2222 S HALSTED ST, CHICAGO, IL 60608-4531
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Apr 28, 2022
—
Top Drawer Furniture LLC
Mumford Sarasota LLC
Lease
—
Feb 25, 2021
$3,825,000
Mumford Sarasota LLC
Rosemary District Venture LLC
Warranty Deed
$3,000,000 · Old National Bank
Jun 1, 2015
$2,275,000
Rosemary District Venture LLC
Iiyf LLC
Warranty Deed
$1,250,000 · Branch Bk&tr
Aug 5, 2011
—
Betty D Riddle
Thompson,lillian
Grant Deed
related
—
Dec 30, 2005
—
Iiyf LLC
Vengroff,harvey & Carol L
Warranty Deed
—
Jul 31, 2003
—
Harvey Vengroff
—
Trustees Deed
related
$600,000 · Sarasota Bank
Apr 4, 2002
—
Harvey Vengroff
—
Trustees Deed
related
$1,150,000 · Sarasota Bank
Sep 11, 1998
$180,000
Harvey Vengroff
Sarasota City (fl)
Grant Deed
—
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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