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 Market59
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
Listed By:
Mike Migone · License #FL BK399768
(941) 812-7437
Source:
Crexi
Added: Aug 18
Changed: Oct 7
Last Checked: Oct 14 at 11:45PM
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
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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 / Yr
$11,547
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$230,940
$230.9K
Cap Rate 7%
$164,957
$165.0K
Cap Rate 9%
$128,300
$128.3K
Market Conditions
NOI Build-Up for 792 SF
Gross rent
$17.1K $21.60/SF
− Vacancy
−$1.7K −$2.16/SF
EGI
$15.4K $19.44/SF
− OpEx
−$3.8K −$4.86/SF
NOI
$11.5K $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 Rate 5%
$230,940
Cap Rate 7%
$164,957
Cap Rate 9%
$128,300
Alternative Uses
Best Use
Office B
$165.0K
$144.3K – $192.5K
NOI $11,547 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.1K
$197.0K – $262.6K
NOI $15,756 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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
