Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    78 Sarasota Ctr Blvd Sarasota, FL 34240-9770
    Property profile & analytics

    78 Sarasota Ctr Blvd Sarasota, FL 34240-9770

    View on Map
    • Office buildings
    • 6,123 SF
    • 1.09 lot acres
    Off-Market
    Last Sale Jan 10, 2020
    $1,450,000
    Property ID
    US18-0334670
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,820,000
    Show details
    Cap Rate Potential
    4%
    Office buildings
    Location Intelligence

    Current Use by 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

    Property Details for 78 Sarasota Ctr Blvd

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.09 lot acres
    Property size
    6,123 SF
    Zone code
    PID
    Property type
    Office buildings
    APN
    0219-02-0030
    APU
    219020030

    Value 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

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,858,000
      Market price range: $652k - $2.02M

    • 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

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4071
    Latitude
    27.3411
    CBSA code
    35840
    CBSA name
    NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $399,800
    $1,052,400
    $1,452,200
    -
    $399,800
    $1,052,400
    $1,452,200

    Comparable in this City

    • Value Estimation
      $1,495,000
      12,530 SF

      6305 Initiative Blvd

      PROFESSIONAL BUILDING • 12,530 SF
      6305 Initiative Blvd, Sarasota, FL 34240-1261
      View Details
    • Value Estimation
      $2,830,000
      10,980 SF

      7337 International Pl

      OFFICE BUILDING • 10,980 SF
      7337 International Pl, Lakewood Ranch, FL 34240-8418
      View Details
    • Value Estimation
      $15,150,000
      60,949 SF

      5501 Communications Pkwy

      OFFICE BUILDING • 60,949 SF
      5501 Communications Pkwy, Lakewood Ranch, FL 34240-8474
      View Details
    • Value Estimation
      $2,120,000
      11,434 SF

      7329 International Pl

      OFFICE BUILDING • 11,434 SF
      7329 International Pl, Lakewood Ranch, FL 34240-8418
      View Details
    • Value Estimation
      $6,195,000
      26,294 SF

      5800 Lakewood Rnch N Blvd

      OFFICE BUILDING (MULTI-STORY) • 26,294 SF
      5800 Lakewood Rnch N Blvd, Lakewood Ranch, FL 34240-8479
      View Details
    • Value Estimation
      $1,610,000
      6,479 SF

      4910 Lakewood Rnch N Blvd

      OFFICE BUILDING (MULTI-STORY) • 6,479 SF
      4910 Lakewood Rnch N Blvd, Lakewood Ranch, FL 34240-5810
      View Details

    Similar Nearby for Sale

    • $1,495,000

      Lakewood Ranch Office Condominiums Package

      Three commercial office condominiums for sale in Lakewood Ranch Corporate Park.
      560 Communications Pkwy, Sarasota, FL 34240
      View Details
    • $550,000
      2,102 SF

      Fully Leased Office Investment Opportunity

      Turnkey office suites near Waterside Lakewood Ranch, fully leased.
      72 Sarasota Center Blvd, Sarasota, FL 34240
      View Details
    • Contact for pricing

      Versatile Commercial Space For Sale

      Combined commercial space suitable for office, showroom, or light industrial.
      1882 Porter Lake Dr, Sarasota, FL 34240
      View Details
    • $560,000
      1,896 SF

      Move-in Ready Industrial/Flex Space

      1,896 SF industrial/flex space in Lake Industrial Park.
      1891 Porter Lake Dr, Sarasota, FL 34240
      View Details
    • $550,000
      1,667 SF

      Versatile Flex/Industrial Unit

      Well-maintained flex/industrial unit with office and warehouse space.
      6321 Poter, Sarasota, FL 34240
      View Details
    • $550,000
      1,935 SF

      Sarasota Flex Space with Studio

      Versatile flex condo with live-work potential in Sarasota.
      6321 Poter, Sarasota, FL 34240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,773 SF

      Modern Office Building in Sarasota

      Three-story office building with modern architectural details and central location.
      5391 N Lakewood Ranch Blvd, Sarasota, FL 34240
      View Details
    • Contact for pricing

      Freestanding Office Building Near I-75

      Professional office building near I-75 and Lakewood Ranch.
      31 Sarasota Center Blvd, Sarasota, FL 34240
      View Details
    • Contact for pricing
      1,320 SF

      Upgraded Flex Space Available

      Flex space with upgraded office, warehouse, and ample parking.
      1151-1215 Sarasota Center Blvd, Sarasota, FL 34240
      View Details
    • Sponsored
      Contact for pricing

      FL, Sarasota - Lakewood Ranch

      Flexible workspace in IL, Hoffman Estates - Prairie Stone Pkwy
      6901 Professional Pkwy, Sarasota, FL 34240
      View Details
    • Contact for pricing

      Office/Warehouse Space Near Fruitville

      Office and warehouse space with easy access to I-75.
      2147 Porter Lake Dr, Sarasota, FL 34240
      View Details
    • $18 SF/Yr
      3,000 SF

      Sarasota Office Space For Rent

      3000 sq ft office space ideal for various businesses.
      8245-8249 Vicela Dr, Sarasota, FL 34240
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    78 Sarasota Ctr Blvd
    Sarasota, FL 34240-9770
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    78 Sarasota Ctr Blvd, Sarasota, FL, 34240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!