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Property profile & analytics
OFF-MARKET
Estimated value
$2,835,000
Warehouses
7000 Iris Ave Sarasota, FL 34243-3984
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-9815421
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1974
Construction
CONCRETE
Total area
17,500 SF
Lot
3.25 ac (141,570 SF)
Zoning code
LM
APN
19786.1005-1
UPID
US18-9815421
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.87M
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$3.77M
Blend (final)
Blend
$2.84M
Owner & transaction history
Mhc 382 Sarasota Fl LLC
Mhc 382 Sarasota Fl LLC
since 2026
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
LM · Sarasota, FL
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
$3,030,000
ML approach
$2,870,000
CAP Approach
CAP Return
Estimation
6%
$3,025,000
6.5%
$2,795,000
7%
$2,595,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,590,000
Current use
Blend value · Realmo final
$2.84M
Range $2.55M – $3.12M · ±10% · vs last sale $2.27M (Mar 21 2022)
Last sale anchor
$2.27M
Mar 21 2022
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
$162 / 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
$40,871
Tax year 2023
Assessed value
$1,874,732
Assessed 2023
Previous assessed
$1,319,398
+42.1% YoY
Effective rate
2.18%
On assessed value
Assessed land
$608,838
Assessed improvement
$1,265,894
Land market value
$608,838
Improvement market value
$1,265,894
Total market value
$1,874,732
Applied tax rate
303.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1974
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
1
Units
1
Total area
17,500 SF
Lot
3.25 ac (141,570 SF)
Zoning code
LM
APN
19786.1005-1
UPID
US18-9815421
Jurisdiction
MANATEE
Zoning & alternative use
LM · Sarasota, FLZoning LM · permitted uses
LM · Sarasota, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Home | City of Sarasota
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.6M
WAREHOUSE, STORAGE Current
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
1974
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
4
Units
1
Lot
3.25 ac
Current owner
From public records · entity-resolved
Mhc 382 Sarasota Fl LLC
Entity
Mailing address
5115 EXCELSIOR BLVD #424, MINNEAPOLIS, MN 55416-2906
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2026
$5,100,000
Mhc 382 Sarasota Fl LLC
7000 Iris Street LLC
Special Warranty Deed
—
Mar 21, 2022
$2,274,000
7000 Iris Street LLC
Charles E Hackney
Special Warranty Deed
—
Oct 3, 2019
$100
Niki C Hackney
Charles E Hackney
Correction Deed
related
—
Jun 5, 2019
$100
Charles E Hackney
Hackney,charles E
Quit Claim Deed
related
—
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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