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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Hotels
8212 Midnight Pass Rd Sarasota, FL 34242-2754
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2490126
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,140 SF
Lot
0.67 ac (29,019 SF)
Zoning code
SKOD; RSF2
APN
0128-02-0012
UPID
US18-2490126
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
-
Siesta Key Bungalows Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.65M
Blend (final)
Blend
$3.17M
Owner & transaction history
Siesta Key Bungalows LLC · 5 yrs held
Siesta Key Bungalows LLC
since 2021
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
SKOD; RSF2 · 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
$4,295,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±10% · vs last sale $2.98M (Jun 3 2021)
Last sale anchor
$2.98M
Jun 3 2021
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
$1,479 / 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
$24,575
Tax year 2023
Assessed value
$2,167,500
Assessed 2023
Previous assessed
$1,564,200
+38.6% YoY
Effective rate
1.13%
On assessed value
Assessed land
$907,700
Assessed improvement
$1,259,800
Land market value
$907,700
Improvement market value
$1,259,800
Total market value
$2,167,500
Applied tax rate
1,800.0000
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Rooms
10
Bathrooms
2
Total area
2,140 SF
Lot
0.67 ac (29,019 SF)
Zoning code
SKOD; RSF2
APN
0128-02-0012
UPID
US18-2490126
Jurisdiction
SARASOTA
Zoning & alternative use
SKOD; RSF2 · Sarasota, FL
Zoning SKOD; RSF2 · permitted uses
SKOD; RSF2 · 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.
Building & site characteristics
From public records
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Rooms
10
Bathrooms
2
Lot
0.67 ac
Current owner
From public records · entity-resolved
Siesta Key Bungalows LLC
Entity
Mailing address
428 WESTCOR DR, CORALVILLE, IA 52241-2884
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2021
$2,975,000
Siesta Key Bungalows LLC
Siesta Key Bungalows INC
Warranty Deed
$2,231,250 · Collins Loan Services Cuso LLC
Oct 30, 2019
—
Siesta Key Bungalows INC
—
Deed
related
$850,000 · Sabal Palm Bk
Feb 21, 2019
—
Siesta Key Bungalows INC
—
Deed
related
$1,400,000 · Investors' Mgmt Tr No 307 (ct)
Nov 21, 2018
—
Siesta Key Bungalows INC
—
Deed
related
$149,400 · United States Small Business Admin
Mar 8, 2017
—
Siesta Key Bungalows INC
—
Deed
related
$1,400,000 · Investor's Mgmt L Tr #307 (ct)
Oct 26, 2006
—
Siesta Key Bungalows INC
—
Trustees Deed
related
$400,000 · Bungalow Loan Trust (tr)
May 3, 2004
$65,000
John K Armstrong
Rockport Development Corp
Grant Deed
$250,000 · Republic Bank
May 3, 2004
$1,200,000
Siesta Key Bungalows INC
Sterling Viii Realty LP
Grant Deed
$960,000 · First National Bank Florida
Jan 3, 2000
$725,400
Sterling Viii Realty Limited
Heron Lagoon Club Development
Grant Deed
$413,931 · Louis Trust
—
—
Siesta Key Bungalows INC
—
Loan Modification
related
$1,300,000 · Investor's Mgmt L Tr #307 (ct)
—
—
Siesta Key Bungalows INC
—
Loan Modification
related
$1,400,000 · Investor's Mgmt L Tr #307 (ct)
—
—
Sterling Viii Realty LP
—
Deed Of Trust
related
$45,550 · Band Russell Collier Pitchford
—
—
Key Bungalows INC|luper Siesta
—
Loan Modification
related
$1,150,000 · * Other Institutional Lenders
—
—
Siesta Key Bungalows INC
—
Deed Of Trust
related
$1,215,000 · Century Bank Fsb
—
—
Heron Lagoon Club Dev Co
—
Deed Of Trust
related
$108,459 · Individual
—
—
Siesta Key Bungalows INC
—
Deed Of Trust
related
$150,000 · Investors Mgmt La Tr #328 (ct)
—
—
Siesta Key Bungalows INC
—
Deed Of Trust
related
$850,000 · Sabal Palm Bk
—
—
Siesta Key Bungalows INC
—
Loan Modification
related
$950,000 · Investors Mgmt Lan Tr 307 (ct)
—
—
Siesta Key Bungalows INC
—
Loan Modification
related
$1,400,000 · Investors' Mgmt Tr No 307 (ct)
—
—
Siesta Key Bungalows INC
—
Loan Modification
related
$950,000 · Investors Land Trust #307 (ct)
—
—
Siesta Key Bungalows INC
—
Deed Of Trust
related
$850,000 · Investors Mgmt La Tr #307 (ct)
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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