Back to Search
Property profile & analytics
FOR LEASE
Office buildings
78 Sarasota Center Blvd Sarasota, FL 34240
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-0334670
For Lease
1 / 6
$1,649,000 SF/Yr
78 Sarasota Center Blvd, Sarasota, FL 34240
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,123 SF
Lot
1.09 ac (47,553 SF)
Zoning code
PID
APN
0219-02-0030
UPID
US18-0334670
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
-
Young George F Land Surveyor Professional Services
-
Tetra Tech Engineering Consultant Environmental Consultant
-
Southwest Florida Water Management District District Government Office
-
Bishop & Associates Sustainability Organization Volunteer Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.31M
CAP Approach
CAP
$1.47M
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.82M
Owner & transaction history
Southwest Florida Water Mgmt D · 6 yrs held
Southwest Florida Water Mgmt D
since 2020
Last sale
$1.5M
6 recorded transactions
Zoning & alternative use
PID · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.7M
+36.2%
Medical building
$2.4M
+23.2%
Retail stores
$2.4M
+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
$2,385,000
ML approach
$2,310,000
CAP Approach
CAP Return
Estimation
6%
$1,585,000
6.5%
$1,465,000
7%
$1,360,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,975,000
Current use
AUTO REPAIR, GARAGE
$2,690,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$2,435,000
Change: +23% · Conversion: Easy
RETAIL STORES
$2,420,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$1.82M
Range $1.64M – $2.00M · ±10% · vs last sale $1.45M (Jan 10 2020)
Last sale anchor
$1.45M
Jan 10 2020
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
$297 / 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
Assessed value
$1,452,200
Assessed 2023
Previous assessed
$1,294,600
+12.2% YoY
Assessed land
$399,800
Assessed improvement
$1,052,400
Land market value
$399,800
Improvement market value
$1,052,400
Total market value
$1,452,200
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
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Rooms
23
Bathrooms
7
Total area
6,123 SF
Lot
1.09 ac (47,553 SF)
Zoning code
PID
APN
0219-02-0030
UPID
US18-0334670
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
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
RETAIL STORES
Est. value
$2.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Rooms
23
Bathrooms
7
Lot
1.09 ac
Current owner
From public records · entity-resolved
Southwest Florida Water Mgmt D
Individual
Mailing address
2379 BROAD ST, BROOKSVILLE, FL 34604-6899
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2020
$1,450,000
Southwest Florida Water Mgmt D
Provident Equities LLC
Warranty Deed
—
Jul 1, 2016
—
Provident Equities LLC
—
Deed
related
$1,029,718 · Jpmorgan Chase Bank NA
Aug 2, 2013
$1,315,000
Provident Equities LLC
Schmidt,gary H & Melba H
Warranty Deed
$812,000 · Regions Bank
Dec 10, 2007
—
Gary H Schmidt
Schmidt,gary H & Melba H
Quit Claim Deed
related
—
Apr 3, 2007
$2,100,000
Gary H Schmidt
George F Young Of Florida INC
Warranty Deed
$1,485,000 · Bank Of America
Apr 3, 2007
—
William F Bishop & Assocs INC
Industry Plaza Ltd
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
