New Retail and Office
124 Houle Ave, Sarasota, FL 34232
Under construction retail and office center near Fruitville Rd.
Type:Retail
Property size:
7,500 SFLot size:
0.85 AcresPrice / SF:
$300/SF- Added:
- May 17, 2024
- Days on Market:
- 746
- Last Refresh:
- May 12 at 9:32 pm
Property Features for 124 Houle Ave
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Lot size
- 0.85 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing agent Loyd Robbins License #FL 3577625
Listing office Loyd Robbins & Co
Listing date May 17, 2024
Source Crexi
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 Loyd Robbins & Co
HighLights
- Brand new retail/office center in a prime Sarasota location, minutes from Downtown and I‑75.
- Two free‑standing buildings offering flexible space options: 4,500 SF and 3,000 SF.
- Durable block construction by Mako Homes, LLC, ensuring quality.
- Ample parking available.
- High 18‑foot eave height provides excellent signage and branding opportunities.
- Ideal for investors seeking to occupy/lease portions or the entire property.
Overview
Under construction is a new retail and office center situated on 0.85 acres. The center is located just off Fruitville Road, west of Interstate 75, and minutes from Downtown Sarasota. Constructed by Mako Homes, LLC, both buildings feature block construction. The anticipated completion date is the fourth quarter of 2024. Located one building north of Fruitville, between Houle Avenue and Avant Avenue, the property includes two free-standing structures: a 4,500 square foot building off Houle Avenue and a 3,000 square foot building off Avant Avenue, totaling 7,500 square feet. Each building will feature a modern storefront entry. The buildings offer an 18-foot eave height, suitable for signage and branding. There is an abundance of dedicated parking spaces available for customers and tenants. The property is suitable for retail or office use. This property presents an opportunity for an investor to occupy a portion of the property while leasing out the remainder, or to lease out the entire property.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.8k | $23.04 |
| − Vacancy | −$9.5k | −$1.27 |
| EGI | $163.3k | $21.77 |
| − OpEx | −$40.8k | −$5.44 |
| NOI | $122.5k | $16.33 |
7,500 SF · lease $23.04/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,472 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$1.32M
$1.15M – $1.54M
NOI $92,232 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,386 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail properties & Spaces
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Manatee
- State
- Florida
- Longitude
- -82.4699124
- Latitude
- 27.3385819
Nearby Similar for Sale
FAQs
What type of property is this?
Retail property - Under construction retail and office center near Fruitville Rd.
Where is this retail property located?
The property is located at 124 Houle Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Brand new retail/office center in a prime Sarasota location, minutes from Downtown and I‑75.; Two free‑standing buildings offering flexible space options: **4,500 SF and 3,000 SF**.; Durable block construction by Mako Homes, LLC, ensuring quality.
