Three-Story Mixed-Use
For Sale
$3,750,000
1345 2ND Street, Sarasota, FL 34236
Commercial Sale, SARASOTA, FL
Property Size8,165 SF
Lot Size0.12 Acres
Price / SF$459.28
Days on Market326
Property Features for 1345 2ND Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTC
Subdivision
PLAT OF SARASOTA EXHIBIT
Directions
Drive South on Tamiami Trl, Take a Left on Fruitville Rd then a Left on Cocoanut Ave then a Left on 2nd St. 1345 2nd St will be on your left.
Standard status
Active
APN
2026130088
Size
8,165 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 14 BLK 17 PLAT OF SARASOTA
Tax Annual Amount
45110
Legal Description
LOT 14 BLK 17 PLAT OF SARASOTA
Utilities
Cooling system
Central Air
Building Details
Year built
2000
Floors in Building
3
Building materials
Block
Listing Agency:
COMPASS FLORIDA LLC
(941) 279-3630
Listed By:
Colby Lengel · License #3335175
(941) 779-6227
Added: Oct 8, 2025
Changed: Aug 24
Last Checked: Aug 29 at 2:06PM
MLS# A4666612
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Constructed in 2000, this 8,165-square-foot, three-story mixed-use building includes a salon-oriented first floor, a treatment-focused second level, and a private penthouse residence. The ground floor previously operated with 12 stations, 6 wash stations, 4 drying stations, 2 bathrooms, and a mixing station. The second floor has 7 plumbed treatment rooms, 2 additional bathrooms, an office, and a breakroom, plus elevator and stair access. A Himalayan salt-brick feature wall adds a distinctive interior element.
The third-floor residence offers 4 bedrooms, an open living and dining arrangement, a chef’s kitchen with island, wine refrigerator, built-in oven and microwave, six-burner gas cooktop, grilling area, wet bar, coffee station, 2 dishwashers, fireplace, and private balcony. One bedroom includes an en-suite half-bath and rooftop terrace. The property is zoned DTC, sits on 0.12 acres, and includes 2 assigned covered parking spaces. The building is vacant; the med spa occupying the second floor may consider a long-term lease. A separate 4,880 SF lot at 1374 Fruitville Rd is also offered separately.
The third-floor residence offers 4 bedrooms, an open living and dining arrangement, a chef’s kitchen with island, wine refrigerator, built-in oven and microwave, six-burner gas cooktop, grilling area, wet bar, coffee station, 2 dishwashers, fireplace, and private balcony. One bedroom includes an en-suite half-bath and rooftop terrace. The property is zoned DTC, sits on 0.12 acres, and includes 2 assigned covered parking spaces. The building is vacant; the med spa occupying the second floor may consider a long-term lease. A separate 4,880 SF lot at 1374 Fruitville Rd is also offered separately.
Key Highlights
- 8,165 SF mixed‑use building on 0.12 acres
- Three‑story building constructed in 2000 with DTC zoning
- First floor previously configured with 12 salon stations, 6 wash stations, and 4 drying stations
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
$143,143
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
3.82%
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%
$2,862,860
$2.9M
Cap Rate 7%
$2,044,900
$2.0M
Cap Rate 9%
$1,590,478
$1.6M
Market Conditions
NOI Build-Up for 8,165 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
$245.0K $30.00/SF
− Vacancy
−$15.9K −$1.95/SF
EGI
$229.0K $28.05/SF
− OpEx
−$85.9K −$10.52/SF
NOI
$143.1K $17.53/SF
Area
Manatee County, FL
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,862,860
Cap Rate 7%
$2,044,900
Cap Rate 9%
$1,590,478
Alternative Uses
Best Use
Mixed Use
$2.04M
$1.79M – $2.39M
NOI $143,143 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$1.41M
$1.23M – $1.65M
NOI $98,795 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,075 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,803
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines a salon-ready first floor, treatment rooms, and a private residential penthouse with elevator access.
Where is this mixed-use property located?
The property is located at 1345 2ND Street Sarasota, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 8,165 SF mixed‑use building on 0.12 acres; Three‑story building constructed in 2000 with DTC zoning; First floor previously configured with 12 salon stations, 6 wash stations, and 4 drying stations
