Osprey Office Condo For
For Sale
$397,800
Pending
428 S TAMIAMI TRAIL, Osprey, FL 34229
Professionally built-out office condo with convenient US-41 access.
Property Size1,300 SF
Days on Market521
Property Features for 428 S TAMIAMI TRAIL
General Information
Standard status
Pending
Size
1,300 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$3,376
Building Details
Year Built
2006
Listing Agency:
RE/MAX PLATINUM
(941) 302-9090
Listed By:
Bryan Guentner · License #3223364
(941) 302-9090
Source:
Exitrealty
Added: Mar 7, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:33AM
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 RE/MAX PLATINUM
Investment Insights
Based on property information with market context.
This well-maintained office condo is located on US-41 in Osprey. The 1300 square-foot space features bright lighting, private offices, a glass-enclosed reception area, and a glass-walled conference room. The property provides a professional setting with on-site parking. It offers access to Sarasota and Venice via US-41, and to Lakewood Ranch via Highway 681 and I-75. The property is intended for use as an office.
Key Highlights
- Convenient location on US‑41 in Osprey with easy access to Sarasota, Venice, and Lakewood Ranch.
- Professionally built‑out office condo in impeccably kept condition.
- Stylish glass‑enclosed reception area.
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
$18,954
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
4.76%
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%
$379,080
$379.1K
Cap Rate 7%
$270,771
$270.8K
Cap Rate 9%
$210,600
$210.6K
Market Conditions
NOI Build-Up for 1,300 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
$28.1K $21.60/SF
− Vacancy
−$2.8K −$2.16/SF
EGI
$25.3K $19.44/SF
− OpEx
−$6.3K −$4.86/SF
NOI
$19.0K $14.58/SF
Area
Sarasota County, FL
Vacancy
10.00%
Lease Rate
$21.60 /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%
$379,080
Cap Rate 7%
$270,771
Cap Rate 9%
$210,600
Alternative Uses
Best Use
Office B
$270.8K
$236.9K – $315.9K
NOI $18,954 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.5K
$323.3K – $431.1K
NOI $25,863 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 34229, FL
7,780
Population
4,662
Households
1.7
Avg Household Size
63
Median Age
58%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
1,297
Density / Sq Mi
$93,949
Median Household Income
$56,047
Median Earnings
$2,008
Median Rent
$635,800
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.
Frequently Asked Questions
What type of property is this?
Office units - Professionally built-out office condo with convenient US-41 access.
Where is this office units located?
The property is located at 428 S TAMIAMI TRAIL Osprey, FL.
What is the asking price?
The asking price for this property is $397,800.
What are key features of this property?
This property features: Convenient location on US‑41 in Osprey with easy access to Sarasota, Venice, and Lakewood Ranch.; Professionally built‑out office condo in impeccably kept condition.; Stylish glass‑enclosed reception area.
