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    6507 Tamiami Trl Sarasota, FL 34231-4827
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    Property profile & analytics

    6507 Tamiami Trl, Sarasota, FL 34231-4827

    View on Map
    • Super regional malls
    • 31,424 SF
    • 34.74 lot acres
    Off-Market
    Last Sale Feb 21, 2024
    Property ID
    US18-3166299
    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.
    Value Estimations
    $6,825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sarasota Pavilion / Shopping Center & Mall
    • Hooters / Restaurant

    Property Details for 6507 Tamiami Trl

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    34.74 lot acres
    Zone code
    CG
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    0104-02-0018
    APU
    104020018

    Description

    Located in Sarasota, Florida, at the highly visible intersection of S. Tamiami Trail and Stickney Point Road – one of only two access points to Siesta Key, consistently ranked among the nation's top beaches. This prime retail location boasts a total of 346,829 square feet within a 34.79-acre lot. The Sarasota Pavilion offers multiple spaces for lease, ranging from a minimum of 1,095 square feet to a maximum contiguous space of 38,165 square feet. Currently, four spaces are available, with sizes ranging from 1,484 to 5,000 square feet. The center benefits from excellent accessibility with multiple points of ingress and egress, ensuring convenient access for customers and employees. This established retail center is anchored by a strong lineup of national retailers including Publix, Old Navy, Ross, World Market, Nordstrom Rack, PetSmart, and Michaels, creating a vibrant and high-traffic shopping environment. The property's strategic location and impressive tenant mix provide an exceptional opportunity for businesses seeking high visibility and strong foot traffic in a thriving Sarasota community. The address is 6507 S Tamiami Trail, Sarasota, FL 34231.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,265,000
      6.5%
      $8,550,000
      7%
      $7,940,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5191
    Latitude
    27.2605
    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
    $513,162
    $29,031,800
    $6,396,600
    $35,428,400
    -
    $29,031,800
    $6,396,600
    $35,428,400

    Comparable in this City

    • Value Estimation
      $2,495,000
      5,752 SF

      7261 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER
      7261 Tamiami Trl, Sarasota, FL 34231-5555
      View Details
    • Value Estimation
      $6,330,000
      30,755 SF

      4012 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER
      4012 Tamiami Trl, Sarasota, FL 34231-3624
      View Details
    • Value Estimation
      $1,205,000
      4,510 SF

      4836 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER
      4836 Tamiami Trl, Sarasota, FL 34231-4352
      View Details
    • Value Estimation
      $3,945,000
      17,850 SF

      2881 Clark Rd

      SHOPPING CENTER, STRIP CENTER
      2881 Clark Rd, Sarasota, FL 34231-6296
      View Details
    • Value Estimation by Request
      1,280 SF

      5109 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER
      5109 Tamiami Trl, Sarasota, FL 34231-4257
      View Details
    • Value Estimation
      $9,300,000
      34,280 SF

      4141 Tamiami Trl

      SHOPPING CENTER, STRIP CENTER
      4141 Tamiami Trl, Sarasota, FL 34231-3600
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Leased Retail Plaza Near Siesta

      Fully leased retail plaza with value-add potential near Siesta.
      7119 South Tamiami Trl, Sarasota, FL 34231
      View Details
    • Contact for pricing
      Pending

      Restaurant with Drive-Thru Opportunity

      2,531 SF restaurant space with drive-thru for sale.
      3155 Clark Rd, Sarasota, FL 34231
      View Details
    • Contact for pricing

      Retail Space in Vibrant Plaza

      5,744 SF retail space in a high-traffic Sarasota plaza.
      5900 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • Contact for pricing
      30,035 SF

      Sarasota Retail and Restaurant Opportunity

      Prime retail location with future development possibilities in Sarasota.
      4413 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • $711,000
      2,217 SF

      Restaurant Property on Swift Road

      Restaurant property for sale with C-I zoning and rear access.
      5666 Swift Rd, Sarasota, FL 34231
      View Details
    • $225,000
      0.16 Acres

      Cleared Lot in Ridge Wood Heights

      Build-ready lot near Siesta Key and UTC Mall.
      22 Camphor Ave, Sarasota, FL 34231
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space on Tamiami Trail

      Retail space available at signalized intersection near Siesta Key.
      6555-6571 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • Contact for pricing
      6,228 SF

      Retail Space in Publix-Anchored Center

      Retail spaces available in a busy, well-located shopping center.
      3506-3578 Clark Rd, Sarasota, FL 34231
      View Details
    • Contact for pricing
      1,550 SF

      Retail Space on Tamiami Trail

      2,000 SF retail space with high visibility.
      3908 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • Contact for pricing
      1,484 SF

      Retail Space on Tamiami Trail

      Retail space available in Sarasota near Siesta Key.
      6583-1 South Tamiami Trl, Sarasota, FL 34231
      View Details
    • Contact for pricing

      Retail Space in Chili’s Plaza

      Retail space available in high-traffic Sarasota location near Trader Joe's.
      4141 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • $1,600 /Mo
      442 SF

      Retail Space on Stickney Point

      Retail space available for rent on Stickney Point Road.
      1960 Stickney Point Rd, Sarasota, FL 34231
      View Details
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    Sarasota, FL 34231-4827
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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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