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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Turn key restaurants
6604 Gtwy Ave Sarasota, FL 34231-5806
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-0956525
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,920 SF
Lot
0.11 ac (4,800 SF)
Zoning code
CG
APN
0104-08-0048
UPID
US18-0956525
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
-
Original Word of Mouth Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$746k
Blend (final)
Blend
$970k
Owner & transaction history
Rima Gulf Gate LLC · 4 yrs held
Rima Gulf Gate LLC
since 2021
Last sale
$855,000
5 recorded transactions
Zoning & alternative use
CG · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.3M
+13.1%
Commercial (general)
$1.3M
+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
$1,235,000
ML approach
$1,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,190,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,340,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $855k (Oct 4 2021)
Last sale anchor
$855k
Oct 4 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
$505 / 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
$4,876
Tax year 2023
Assessed value
$360,100
Assessed 2023
Previous assessed
$386,100
-6.7% YoY
Effective rate
1.35%
On assessed value
Assessed land
$144,000
Assessed improvement
$216,100
Land market value
$144,000
Improvement market value
$216,100
Total market value
$360,100
Applied tax rate
2,000.0000
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
3
Bathrooms
4
Total area
1,920 SF
Lot
0.11 ac (4,800 SF)
Zoning code
CG
APN
0104-08-0048
UPID
US18-0956525
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
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
3
Bathrooms
4
Lot
0.11 ac
Current owner
From public records · entity-resolved
Rima Gulf Gate LLC
Entity
Mailing address
306 BAYVIEW PKWY, NOKOMIS, FL 34275-3909
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
Oct 4, 2021
$855,000
Rima Gulf Gate LLC
J Kevin Drake
Warranty Deed
$684,000 · Sabal Palm Bank
Jul 9, 2018
—
Kevin J Drake
—
Deed
related
$635,000 · Sabal Palm Bk
Oct 8, 2001
$305,000
Drake J K
Mouchlis,constantine & Lorilee
Grant Deed
—
—
—
Kevin J Drake
—
Deed Of Trust
related
$635,000 · Sabal Palm Bk
—
—
J Kevin Drake
—
Deed Of Trust
related
$877,834 · Florida 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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