Renovated Medical Building Investment
1630 S Tuttle Ave Sarasota, FL 34239
For Sale
$3,350,000
Turnkey medical building with high-end finishes and strong investment potential.
Property Size7,829 SF
Price / SF$427.90
Days on Market250
Property Features for 1630 S Tuttle Ave
General Information
Standard status
Active
Size
7,829 SF
Property subtype
Office
Building Details
Year Built
1981
Listing Agency:
SVN - Commercial Partners | Sarasota
(773) 458-3282
Listed By:
David Carlson · License #BK3231913
(773) 458-3282
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Jul 29 at 4:30AM
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 SVN - Commercial Partners | Sarasota
Investment Insights
Based on property information with market context.
This 7,829 square foot building, located in Sarasota, Florida, has been renovated and is presented as a turnkey investment opportunity. The property features high-end interior finishes and a versatile layout. It includes 14 fully-equipped exam rooms, an updated X-ray room, seven private staff offices, a spacious gym and physical therapy area, and a waiting area with dual reception desks. The building is of hurricane-proof construction. It is currently 100% occupied and leased by two medical professionals on a five-year triple net lease at a rate of $30 per square foot triple net. The property is near Sarasota Memorial Hospital and downtown Sarasota. The surrounding area offers access to cultural attractions, dining, and waterfront views, with the downtown district, Sarasota Bay, the Ringling Museum of Art, Marina Jack, and St. Armands Circle nearby. The property offers a 6.81% CAP rate with a yearly income of $234,870 with increases.
Key Highlights
- Turnkey investment property with 100% occupancy and strong investment potential.
- Leased by two medical professionals on a five‑year triple net lease at $30/ft, generating $234,870 yearly income with increases and a 6.81% CAP rate.
- Impeccably renovated 7,829 SF building with high‑end interior finishes and hurricane‑proof construction.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.4k | $23.04 |
| − Vacancy | −$9.9k | −$1.27 |
| EGI | $170.5k | $21.77 |
| − OpEx | −$42.6k | −$5.44 |
| NOI | $127.8k | $16.33 |
7,829 SF · lease $23.04/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $127,844 @ 7.0% cap · market cap 3.82%
Second Best
Healthcare Medical
$1.73M
$1.51M – $2.01M
NOI $120,869 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$2.30M
$2.01M – $2.69M
NOI $161,158 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Bayshore Animal Clinic — 2145 Hillview St, Sarasota, FL 34239
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical building with high-end finishes and strong investment potential.
Where is this medical office space located?
The property is located at 1630 S Tuttle Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Turnkey investment property with 100% occupancy and strong investment potential.; Leased by two medical professionals on a five‑year triple net lease at $30/ft, generating $234,870 yearly income with increases and a 6.81% CAP rate.; Impeccably renovated **7,829 SF building** with high‑end interior finishes and hurricane‑proof construction.
