Grey Shell Office
For Sale
Contact for pricing
1268 11th Street, Sarasota, FL 34236
Unfinished professional office suite beside Publix and surrounding retail businesses in Sarasota.
Property Size792 SF
Price / SF$372.47
Days on Market14
Property Features for 1268 11th Street
General Information
Standard status
Active
Size
792 SF
Class
A
Property subtype
Office
Zoning
CRD- Commercial Residential District
Investment Type
Owner/User
Building Details
Year Built
2007
Buildings
1
Units
1
Listing Agency:
SVN | Commercial Advisory Group Sarasota
(941) 812-7437
Listed By:
Mike Migone · License #FL BK399768
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 2:00AM
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 SVN | Commercial Advisory Group Sarasota
Investment Insights
Based on property information with market context.
This 792-square-foot office unit is presented in grey shell condition, giving a future occupant a blank interior for a customized professional workspace. The property was built in 2007 and is situated at 1268 11th Street in Sarasota.
Publix Supermarket is directly adjacent, with additional retail businesses surrounding the property. The suite is positioned in a downtown Sarasota setting with access to nearby commercial activity and services.
Publix Supermarket is directly adjacent, with additional retail businesses surrounding the property. The suite is positioned in a downtown Sarasota setting with access to nearby commercial activity and services.
Key Highlights
- 792 SF office unit
- Grey shell interior supports a customized buildout
- Built in 2007
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
$12,933
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
4.38%
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%
$258,660
$258.7K
Cap Rate 7%
$184,757
$184.8K
Cap Rate 9%
$143,700
$143.7K
Market Conditions
NOI Build-Up for 792 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
$18.2K $23.04/SF
− Vacancy
−$1.0K −$1.27/SF
EGI
$17.2K $21.77/SF
− OpEx
−$4.3K −$5.44/SF
NOI
$12.9K $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%
$258,660
Cap Rate 7%
$184,757
Cap Rate 9%
$143,700
Alternative Uses
Best Use
Office B
$184.8K
$161.7K – $215.6K
NOI $12,933 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$232.9K
$203.8K – $271.7K
NOI $16,303 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Explore this area
Business Placement
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
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 units - Unfinished professional office suite beside Publix and surrounding retail businesses in Sarasota.
Where is this office units located?
The property is located at 1268 11th Street Sarasota, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 792 SF office unit; Grey shell interior supports a customized buildout; Built in 2007
