Medical Office Suite with
For Sale
$399,000
1219 S East Avenue 3-304, Sarasota, FL 34239
Office suite includes five offices, a conference room, and a kitchenette with private entry door.
Property Size1,024 SF
Price / SF$389.65
Days on Market24
Property Features for 1219 S East Avenue 3-304
General Information
Standard status
Active
Size
1,024 SF
Additional Details
Office Units
5
Amenities
conference room
private shower
kitchenette
Building Details
Year Built
1986
Listing Agency:
VILLA & COMPANY INC
(941) 556-6798
Listed By:
Judson Villa · License #3009551
Source:
Whitesandsfl
Added: Jul 21
Changed: Aug 10
Last Checked: Aug 12 at 9:46AM
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 suite is part of Midtown Medical Park and features five offices plus a conference room. Interior updates include luxury vinyl flooring and fresh paint. The main office suite includes a private shower, along with one guest bathroom. A kitchenette is provided with a sink, mini fridge, ample cabinetry, and a private entry door, supporting a flexible office layout.
The building offers free parking outside the property. The suite is described as being minutes from Sarasota Memorial Hospital and downtown.
Overall, the space is configured for professional or medical office use, with dedicated room count suitable for team meetings, client discussions, and day-to-day operations.
The building offers free parking outside the property. The suite is described as being minutes from Sarasota Memorial Hospital and downtown.
Overall, the space is configured for professional or medical office use, with dedicated room count suitable for team meetings, client discussions, and day-to-day operations.
Key Highlights
- Office building built in 1986 in Midtown Medical Park
- Updated interior with luxury vinyl flooring and fresh paint
- Includes 5 offices and a conference room
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
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
2,565
Businesses Nearby
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?
Office building - Office suite includes five offices, a conference room, and a kitchenette with private entry door.
Where is this office building 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: Office building built in 1986 in Midtown Medical Park; Updated interior with luxury vinyl flooring and fresh paint; Includes 5 offices and a conference room
