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Property profile & analytics
OFF-MARKET
Estimated value
$26,290,000
Hotels
700 Benjamin Franklin Dr Sarasota, FL 34236-2011
Entity Owned
19-yr Hold
Free & Clear
Property ID
US18-4371992
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
58,776 SF
Lot
4.09 ac (178,027 SF)
Zoning code
WFR
APN
2016-12-0001
UPID
US18-4371992
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
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Blink Charging Station Electric Vehicle Charging Station
-
Hotell Sarasota Hotel & Motel
-
Lisa Hunt Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$26.29M
Owner & transaction history
Logan Acquisitions Corp · 19 yrs held
Logan Acquisitions Corp
since 2007
5 recorded transactions
Zoning & alternative use
WFR · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$41,225,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$40,955,000
Change: -8% · Conversion: Difficult
OFFICE BUILDING
$37,150,000
Change: -17% · Conversion: Difficult
RESTAURANT
$36,445,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$26.29M
Range $23.66M – $28.92M · ±10%
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
$447 / 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
$808,966
Tax year 2023
Assessed value
$60,361,800
Assessed 2023
Previous assessed
$54,541,900
+10.7% YoY
Effective rate
1.34%
On assessed value
Assessed land
$28,827,100
Assessed improvement
$31,534,700
Land market value
$28,827,100
Improvement market value
$31,534,700
Total market value
$60,361,800
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
WALL UNIT
Buildings
2
Stories
4
Rooms
222
Bathrooms
116
Total area
58,776 SF
Lot
4.09 ac (178,027 SF)
Zoning code
WFR
APN
2016-12-0001
UPID
US18-4371992
Jurisdiction
SARASOTA
Zoning & alternative use
WFR · Sarasota, FL
Zoning WFR · permitted uses
WFR · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$41.2M
COMMERCIAL (GENERAL)
Est. value
$41.0M
OFFICE BUILDING
Est. value
$37.2M
RESTAURANT
Est. value
$36.4M
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
4
Buildings
2
Rooms
222
Bathrooms
116
Lot
4.09 ac
Current owner
From public records · entity-resolved
Logan Acquisitions Corp
Entity
Free & Clear · 19 yrs held
Mailing address
1000 MARKET ST UNIT #300, PORTSMOUTH, NH 03801-3358
Ownership since
2007
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
Dec 2, 2020
—
Logan Acquisitions Corp
—
Deed
related
$16,000,000 · Bar Harbor Bk&tr
Feb 27, 2007
—
Logan Acquisitions Corp
Boca Raton Title Ins Co INC
Grant Deed
—
Sep 1, 2006
$62,500,000
Boca Raton Title Ins Co INC
Calpac INC
Grant Deed
$60,000,000 · Calpac INC
—
—
Logan Acquisitions Corp
—
Loan Modification
related
$45,000,000 · Massachusetts Mutual Life Ins
—
—
Logan Acquisitions Corp
—
Loan Modification
related
$16,000,000 · Bar Harbor Bk&tr
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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