Updated Office Space Near
For Sale
$399,000
1219 S EAST AVENUE #3-304, Sarasota, FL 34239
Well-maintained office in Midtown Medical Park, suitable for various uses.
Property Size1,024 SF
Lot Size6.00 Acres
Price / SF$389.65
Days on Market329
Property Features for 1219 S EAST AVENUE #3-304
General Information
Standard status
Active
Size
1,024 SF
Lot size
6.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,165
Amenities
Central air
Pool
Public Pool
Accessible Full Bath
Central Air Cooling
Central Heating
Common
Concrete Flooring
Concrete Roof
Electric Heating
Ground Level
Lighted
Luxury Vinyl Flooring
Membrane Roof
Over 30 Spaces
Tile Roof
Building Details
Year Built
1986
Listing Agency:
VILLA & COMPANY INC
(941) 416-5915
Listed By:
JUDSON VILLA · License #3009551
Source:
Corcoran
Added: Sep 26, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:14AM
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 VILLA & COMPANY INC
Investment Insights
Based on property information with market context.
This well-maintained office space is located in Midtown Medical Park in Sarasota, Florida, minutes from Sarasota Memorial Hospital and downtown. The interior has been updated with luxury vinyl flooring and fresh paint. The layout includes 5 offices, a conference room, and a kitchenette with a sink, mini fridge, and ample cabinetry. The main office suite features a private shower. One guest bathroom is available. The space is suitable for medical, professional, or creative office use. There is a private entry door and plenty of free parking available outside the building. The property has a size of 1024 square feet.
Key Highlights
- Prime location in Midtown Medical Park, near Sarasota Memorial Hospital and downtown.
- Potential owner leaseback opportunity for investors.
- Updated interior with luxury vinyl flooring and fresh paint.
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
$16,722
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
4.19%
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%
$334,440
$334.4K
Cap Rate 7%
$238,886
$238.9K
Cap Rate 9%
$185,800
$185.8K
Market Conditions
NOI Build-Up for 1,024 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
$23.6K $23.04/SF
− Vacancy
−$1.3K −$1.27/SF
EGI
$22.3K $21.77/SF
− OpEx
−$5.6K −$5.44/SF
NOI
$16.7K $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%
$334,440
Cap Rate 7%
$238,886
Cap Rate 9%
$185,800
Alternative Uses
Best Use
Office B
$238.9K
$209.0K – $278.7K
NOI $16,722 @ 7.0% cap · market cap 4.19%
Second Best
Healthcare Medical
$225.8K
$197.6K – $263.5K
NOI $15,809 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$301.1K
$263.5K – $351.3K
NOI $21,079 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,565
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34239, FL
15,049
Population
8,044
Households
1.9
Avg Household Size
52
Median Age
45%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,420
Density / Sq Mi
$76,378
Median Household Income
$42,017
Median Earnings
$1,522
Median Rent
$418,300
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.
Similar Off Market Nearby
- Bayshore Animal Clinic — 2145 Hillview St, Sarasota, FL 34239
- Burns Court Veterinary Care — 1530 Dolphin St Suite 1, Sarasota, FL 34236
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained office in Midtown Medical Park, suitable for various uses.
Where is this medical office space located?
The property is located at 1219 S EAST AVENUE #3-304 Sarasota, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Prime location in Midtown Medical Park, near Sarasota Memorial Hospital and downtown.; Potential owner leaseback opportunity for investors.; Updated interior with **luxury vinyl flooring and fresh paint.**
