Downtown Sarasota Retail/Office
For Sale
$352,800
Pending
430 KUMQUAT COURT 106, Sarasota, FL 34236
Retail/commercial condominium in downtown Sarasota's Rosemary District.
Property Size882 SF
Days on Market1540
Property Features for 430 KUMQUAT COURT 106
General Information
Standard status
Pending
Size
882 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$3,500
Building Details
Year Built
2023
Listing Agency:
PREMIER SOTHEBY'S INTERNATIONAL REALTY
(941) 364-4000
Listed By:
Frank Lambert · License #0345242
(941) 920-1500
Source:
Exitrealty
Added: Jun 29, 2022
Changed: Sep 10
Last Checked: Sep 14 at 5:29AM
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 PREMIER SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
These retail/commercial office condominium suites are located in a prime downtown Sarasota location with street-side access. Part of Villa Ballada, a modern-designed, mixed-use condominium project, the property comprises three professional retail spaces below 22 residences. Designed by Rosemary District architects, Halflants + Pichette, these new construction retail/office spaces offer contemporary styling and masonry walls between suites. The retail/commercial spaces are roughed in and ready to be customized to the buyer’s needs, and to receive new owner’s optional individual heating and cooling systems. New concrete floors are ready for the buyer’s desired finish. Monthly fees are $319 per month. Abundant street parking is available on Kumquat Court, 4th Street, Lemon Avenue and Orange Avenue. The property is located near Citrus Square and Orange Avenue commercial districts, Lemon Avenue and Fruitville Road, other retail and commercial enterprises, as well as traffic to Whole Foods, farmers market, restaurants and shopping, arts and cultural theater districts. The Rosemary District has 1,800 new residents.
Key Highlights
- Prime downtown Sarasota location in the Rosemary District with high foot traffic and proximity to commercial districts, Whole Foods, and cultural attractions.
- New construction retail/commercial condominium suites offering customizable spaces to suit the buyer's needs.
- Designed by award‑winning Rosemary District architects, Halflants + Pichette, with contemporary styling and masonry walls.
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
$10,846
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
3.07%
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%
$216,920
$216.9K
Cap Rate 7%
$154,943
$154.9K
Cap Rate 9%
$120,511
$120.5K
Market Conditions
NOI Build-Up for 882 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
$15.9K $18.00/SF
− Vacancy
−$381 −$0.43/SF
EGI
$15.5K $17.57/SF
− OpEx
−$4.6K −$5.27/SF
NOI
$10.8K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$216,920
Cap Rate 7%
$154,943
Cap Rate 9%
$120,511
Alternative Uses
Best Use
Retail
$154.9K
$135.6K – $180.8K
NOI $10,846 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.4K
$227.0K – $302.6K
NOI $18,156 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,210
Businesses Nearby
147k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 20%
Dining 19%
Hotels & Casinos 4%
Publix
Groceries
37,584 visits/mo
0.4 miles
Whole Foods Market
Groceries
34,548 visits/mo
0.3 miles
Sunoco
Shops & Services
18,817 visits/mo
0.5 miles
First Watch
Dining
10,428 visits/mo
0.4 miles
Hyde Park Prime Steakhouse
Dining
8,260 visits/mo
0.4 miles
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Sarasota, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail/commercial condominium in downtown Sarasota's Rosemary District.
Where is this retail space located?
The property is located at 430 KUMQUAT COURT 106 Sarasota, FL.
What is the asking price?
The asking price for this property is $352,800.
What are key features of this property?
This property features: Prime downtown Sarasota location in the Rosemary District with high foot traffic and proximity to commercial districts, Whole Foods, and cultural attractions.; New construction retail/commercial condominium suites offering customizable spaces to suit the buyer's needs.; Designed by award‑winning Rosemary District architects, Halflants + Pichette, with contemporary styling and masonry walls.
