Retail/Office Condominium
For Sale
$352,800
106-430 Kumquat Ct, Sarasota, FL 34236
Pre-construction retail/office condo suites with street-side access and heating/cooling systems ready for customization.
Property Size882 SF
Price / SF$400
Days on Market1540
Property Features for 106-430 Kumquat Ct
General Information
Standard status
Active
Size
882 SF
Taxes and HOA fees
Annual Taxes
$3,500
Listing Agency:
PREMIER SOTHEBY'S INTERNATIONAL REALTY
(941) 364-4000
Listed By:
Frank Lambert · License #0345242
(941) 920-1500
Source:
Exprealty
Added: Jun 29, 2022
Changed: Sep 14
Last Checked: Sep 14 at 8:00AM
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 PREMIER SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
Pre-construction condominium suites are planned for retail and commercial office use beneath a residential component. The project includes three professional retail spaces with masonry walls between suites, and each unit is offered roughed in and ready to receive the buyer’s optional individual heating and cooling systems. New concrete floors are also in place and ready for the buyer’s desired finishes, allowing the interior buildout to align with the tenant or owner’s needs.
The property is located in downtown Sarasota within the Rosemary District, with street-side access. Parking is available on Kumquat Court, 4th Street, Lemon Avenue, and Orange Avenue. The remarks also reference nearby activity tied to Citrus Square and the Orange Avenue commercial district, along with access toward Whole Foods and the area’s dining, shopping, and arts and cultural theater offerings.
For buyers and tenants seeking ownership or occupancy in a purpose-built mixed-use condominium setting, these suites provide a straightforward path to customize the space after delivery, including individual climate control. Low monthly fees are cited in the offering materials at $319 per month, and the street-access configuration supports retail and service-style businesses that benefit from convenient public entry.
The property is located in downtown Sarasota within the Rosemary District, with street-side access. Parking is available on Kumquat Court, 4th Street, Lemon Avenue, and Orange Avenue. The remarks also reference nearby activity tied to Citrus Square and the Orange Avenue commercial district, along with access toward Whole Foods and the area’s dining, shopping, and arts and cultural theater offerings.
For buyers and tenants seeking ownership or occupancy in a purpose-built mixed-use condominium setting, these suites provide a straightforward path to customize the space after delivery, including individual climate control. Low monthly fees are cited in the offering materials at $319 per month, and the street-access configuration supports retail and service-style businesses that benefit from convenient public entry.
Key Highlights
- Pre‑construction retail/commercial office condo suites in downtown Sarasota’s Rosemary District with street‑side access
- Three professional retail spaces below 22 residences in the Villa Ballada mixed‑use condominium project
- Spaces are roughed in and ready for optional individual heating and cooling systems
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
$14,403
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
4.08%
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%
$288,060
$288.1K
Cap Rate 7%
$205,757
$205.8K
Cap Rate 9%
$160,033
$160.0K
Market Conditions
NOI Build-Up for 882 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
$20.3K $23.04/SF
− Vacancy
−$1.1K −$1.27/SF
EGI
$19.2K $21.77/SF
− OpEx
−$4.8K −$5.44/SF
NOI
$14.4K $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%
$288,060
Cap Rate 7%
$205,757
Cap Rate 9%
$160,033
Alternative Uses
Best Use
Office B
$205.8K
$180.0K – $240.1K
NOI $14,403 @ 7.0% cap · market cap 4.08%
Second Best
Retail
$154.9K
$135.6K – $180.8K
NOI $10,846 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$259.4K
$227.0K – $302.6K
NOI $18,156 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
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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?
Retail space - Pre-construction retail/office condo suites with street-side access and heating/cooling systems ready for customization.
Where is this retail space located?
The property is located at 106-430 Kumquat Ct Sarasota, FL.
What is the asking price?
The asking price for this property is $352,800.
What are key features of this property?
This property features: Pre‑construction retail/commercial office condo suites in downtown Sarasota’s Rosemary District with street‑side access; Three professional retail spaces below 22 residences in the Villa Ballada mixed‑use condominium project; Spaces are roughed in and ready for optional individual heating and cooling systems
