Class A Waterfront Office
For Sale
$36,000,000
101 Paramount Drive, Sarasota, FL 34232
Energy Star rated Class A office building on a park-like waterfront campus.
Property Size157,351 SF
Days on Market55
Property Features for 101 Paramount Drive
General Information
Standard status
Active
Size
157,351 SF
Class
A
Property subtype
Office - General Office
Additional Details
Highway Access
Yes
Building Details
Building Size
157,351 SF
Year Built
1999
Units
10
Listing Agency:
Ian Black Real Estate
Listed By:
Jag Grewal · License #BK699811
(941) 906-8688
Source:
Commercialcafe
Added: Jul 28
Changed: Sep 18
Last Checked: Sep 20 at 5:29AM
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
Investment Insights
Based on property information with market context.
This Class A, Energy Star rated office building features a waterfront setting within a park-like campus environment. The grounds are described as landscaped and include live oak trees, creating a campus atmosphere for occupants and visitors.
The property is located just minutes from the I-75/Fruitville Road interchange. It is also described as having high walkability, with nearby restaurants, shopping, and other destinations within walking distance.
The property is located just minutes from the I-75/Fruitville Road interchange. It is also described as having high walkability, with nearby restaurants, shopping, and other destinations within walking distance.
Key Highlights
- Energy Star rated Class A office building
- Located just minutes from the I‑75/Fruitville Road interchange
- Waterfront building set on a park‑like campus with lush landscaping and live oak trees
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
$2,569,479
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
7.14%
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%
$51,389,580
$51.4M
Cap Rate 7%
$36,706,843
$36.7M
Cap Rate 9%
$28,549,767
$28.5M
Market Conditions
NOI Build-Up for 157,351 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
$3.63M $23.04/SF
− Vacancy
−$199.4K −$1.27/SF
EGI
$3.43M $21.77/SF
− OpEx
−$856.5K −$5.44/SF
NOI
$2.57M $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%
$51,389,580
Cap Rate 7%
$36,706,843
Cap Rate 9%
$28,549,767
Alternative Uses
Best Use
Office B
$36.71M
$32.12M – $42.82M
NOI $2,569,479 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$46.27M
$40.49M – $53.98M
NOI $3,239,039 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,360
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Energy Star rated Class A office building on a park-like waterfront campus.
Where is this office building located?
The property is located at 101 Paramount Drive Sarasota, FL.
What is the asking price?
The asking price for this property is $36,000,000.
What are key features of this property?
This property features: Energy Star rated Class A office building; Located just minutes from the I‑75/Fruitville Road interchange; Waterfront building set on a park‑like campus with lush landscaping and live oak trees
