Recently Renovated Class A Office
For Sale
Contact for pricing
100 Paramount Drive, Sarasota, FL 34232
Professional office property with updated shared amenities, shaded parking, and a campus setting with mature live oaks and waterfront views.
Property Size78,017 SF
Price / SF$237.13
Days on Market64
Property Features for 100 Paramount Drive
General Information
Standard status
Active
Size
78,017 SF
Class
A
Property subtype
Office
Zoning
ILW
Building Details
Year Built
1991
Tenancy
Multi
Listing Agency:
Ian Black Real Estate LLC
(407) 650-3615
Listed By:
Melissa Harris, SIOR · License #SL3253250
Source:
Crexi
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 31 at 9:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ian Black Real Estate LLC
Investment Insights
Based on property information with market context.
Sarasota Commerce Center I is a 78,017-square-foot office building constructed in 1991 and recently updated in its common areas. Shared features include a tenant lounge, fitness center, conference room, and HVAC UV lights. The property also provides shaded parking and a 5.0/1,000 SF parking ratio for employees and visitors.
The campus includes mature live oak trees and waterfront views, with access just minutes from the I-75/Fruitville Road interchange. Restaurants, retail, hotels, everyday services, and nearby apartment communities are within close proximity. The building is zoned ILW and houses a mix of local, national, and international tenants.
The campus includes mature live oak trees and waterfront views, with access just minutes from the I-75/Fruitville Road interchange. Restaurants, retail, hotels, everyday services, and nearby apartment communities are within close proximity. The building is zoned ILW and houses a mix of local, national, and international tenants.
Key Highlights
- 78,017‑square‑foot office building constructed in 1991
- Recently renovated common areas with tenant lounge and shared conference room
- Fitness center and HVAC UV lights serving the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,273,986
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$25,479,720
$25.5M
Cap Rate 7%
$18,199,800
$18.2M
Cap Rate 9%
$14,155,400
$14.2M
Market Conditions
NOI Build-Up for 78,017 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.80M $23.04/SF
− Vacancy
−$98.9K −$1.27/SF
EGI
$1.70M $21.77/SF
− OpEx
−$424.7K −$5.44/SF
NOI
$1.27M $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$25,479,720
Cap Rate 7%
$18,199,800
Cap Rate 9%
$14,155,400
Alternative Uses
Best Use
Office B
$18.20M
$15.92M – $21.23M
NOI $1,273,986 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.94M
$20.07M – $26.77M
NOI $1,605,964 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 34232, FL
34,671
Population
17,248
Households
2
Avg Household Size
47
Median Age
34%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
3,152
Density / Sq Mi
$81,041
Median Household Income
$44,166
Median Earnings
$1,836
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with updated shared amenities, shaded parking, and a campus setting with mature live oaks and waterfront views.
Where is this office building located?
The property is located at 100 Paramount Drive Sarasota, FL.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: 78,017‑square‑foot office building constructed in 1991; Recently renovated common areas with tenant lounge and shared conference room; Fitness center and HVAC UV lights serving the property
