Turnkey Medical Office
For Sale
$697,000
1219 S East Ave # C, Sarasota, FL 34239
Move-in ready medical suite near Sarasota Memorial Hospital.
Property Size1,912 SF
Days on Market114
Property Features for 1219 S East Ave # C
General Information
Standard status
Active
Size
1,912 SF
Class
A
Property subtype
Medical/Healthcare
Building Details
Building Size
1,912 SF
Year Built
1986
Listing Agency:
American Property Group of Sarasota, Inc.
(941) 923-0535
Listed By:
Adam Doak · License #3271713
(941) 923-0535
Source:
Thebrokerlist
Added: May 8
Changed: Aug 8
Last Checked: May 8 at 2:46PM
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 American Property Group of Sarasota, Inc.
Investment Insights
Based on property information with market context.
Located in Sarasota's healthcare corridor, near U.S. Route 41 and approximately 0.3 miles from Sarasota Memorial Hospital, this medical office suite at Midtown Medical Plaza combines Suites 308 and 309. The updated space features new flooring and paint. The layout includes a waiting area and reception with check-in and check-out areas, three exam rooms with potential for a fourth, a common lab/work area, and two private physician offices, one with a full private bathroom including a shower. Additional interior features include a private administrative office, nurses’ stations, a staff breakroom with kitchen and separate private entrance, and an additional private restroom for staff and guests. Midtown Medical Plaza has undergone capital improvements, including new hurricane-impact windows and exterior repainting. The building provides elevator service, multiple ADA-compliant restrooms on the first and second floors, and on-site parking.
Key Highlights
- Premier location directly across from Sarasota Memorial Hospital in the healthcare corridor.
- Turnkey, move‑in‑ready medical office suite with efficient layout.
- Recently updated with new flooring and paint, providing a modern environment.
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
$31,222
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
4.48%
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%
$624,440
$624.4K
Cap Rate 7%
$446,029
$446.0K
Cap Rate 9%
$346,911
$346.9K
Market Conditions
NOI Build-Up for 1,912 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
$44.1K $23.04/SF
− Vacancy
−$2.4K −$1.27/SF
EGI
$41.6K $21.77/SF
− OpEx
−$10.4K −$5.44/SF
NOI
$31.2K $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%
$624,440
Cap Rate 7%
$446,029
Cap Rate 9%
$346,911
Alternative Uses
Best Use
Office B
$446.0K
$390.3K – $520.4K
NOI $31,222 @ 7.0% cap · market cap 4.48%
Second Best
Healthcare Medical
$421.7K
$369.0K – $492.0K
NOI $29,519 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$562.3K
$492.0K – $656.0K
NOI $39,358 @ 7.0% cap · market cap 5.65%
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready medical suite near Sarasota Memorial Hospital.
Where is this medical office space located?
The property is located at 1219 S East Ave # C Sarasota, FL.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: Premier location directly across from Sarasota Memorial Hospital in the healthcare corridor.; Turnkey, move‑in‑ready medical office suite with efficient layout.; Recently updated with new flooring and paint, providing a modern environment.
