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Property profile & analytics
OFF-MARKET
Estimated value
$5,115,000
Office buildings
71 Alafia Dr Sarasota, FL 34240-1202
Individually Owned
9-yr Hold
Free & Clear
Property ID
US18-1242009
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,495 SF
Lot
1.98 ac (86,402 SF)
Zoning code
PID
APN
0219-04-0160
UPID
US18-1242009
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
-
MRSL Real Time Systems Laboratory (Bike/Boat/Book/etc) Store Corporate Office
-
Nucleus Security Service
-
Rampant Technologies (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.15M
Comparable Approach
Comparable
$5.78M
Blend (final)
Blend
$5.12M
Owner & transaction history
Mrsl Real-time Systems Laborat · 9 yrs held
Mrsl Real-time Systems Laborat
since 2017
4 recorded transactions
Zoning & alternative use
PID · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.5M
+22.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,570,000
6.5%
$5,145,000
7%
$4,775,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,935,000
Current use
RETAIL STORES
$8,485,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$5.12M
Range $4.60M – $5.63M · ±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
$238 / 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
$54,885
Tax year 2023
Assessed value
$4,519,000
Assessed 2023
Previous assessed
$3,648,800
+23.8% YoY
Effective rate
1.21%
On assessed value
Assessed land
$633,700
Assessed improvement
$3,885,300
Land market value
$633,700
Improvement market value
$3,885,300
Total market value
$4,519,000
Applied tax rate
100.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Total area
21,495 SF
Lot
1.98 ac (86,402 SF)
Zoning code
PID
APN
0219-04-0160
UPID
US18-1242009
Jurisdiction
SARASOTA
Zoning & alternative use
PID · Sarasota, FL
Zoning PID · permitted uses
PID · 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
OFFICE BUILDING Current
Est. value
$6.9M
RETAIL STORES
Est. value
$8.5M
OFFICE BUILDING Current
RETAIL STORES
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
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Lot
1.98 ac
Current owner
From public records · entity-resolved
Mrsl Real-time Systems Laborat
Individual
Free & Clear · 9 yrs held
Mailing address
71 ALFALFA DR, SARASOTA, FL 34240
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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 26, 2023
—
Mrsl Real Time Systems Laboratory I
—
Deed
related
$5,349,939 · Fifth Third Bank NA
Oct 23, 2017
—
Mrsl Real-time Systems Laborat
—
Trustees Deed
related
$3,788,000 · Fifth Third Bk
Jan 11, 2017
$410,000
Mrsl Real-time Systems Laborat
F & S Paleo LLC
Warranty Deed
—
Nov 23, 2004
$475,200
F & S Paleo LLC
Paleo Properties INC
Warranty 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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