Second-Floor Office
For Sale
$950,000
1348 FRUITVILLE ROAD, Sarasota, FL 34236
Two connected office units provide central air and reserved on-site parking in downtown Sarasota.
Property Size2,428 SF
Price / SF$391.27
Days on Market140
Property Features for 1348 FRUITVILLE ROAD
General Information
Standard status
Active
Size
2,428 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,885
Amenities
Central Air
3
City Road, Other Road Type.
Building Details
Year Built
2005
Listing Agency:
MICHAEL SAUNDERS & COMPANY
(941) 955-8200
Listed By:
Michael Saunders · License #0114236
(941) 769-2222
Source:
Xome
Added: Apr 20
Changed: Sep 5
Last Checked: Sep 6 at 4:18AM
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 MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
This second-floor office property consists of two connected units at 1348 Fruitville Road in downtown Sarasota. The space includes central air and was built in 2005, with on-site parking that includes two reserved spaces.
The property sits along Fruitville Road within Sarasota’s downtown corridor, offering access to the city’s central business, dining, and residential areas. Its location also provides convenient connections to nearby neighborhood amenities and major regional thoroughfares. The units are offered with an NNN lease structure supported by the existing property configuration.
The property sits along Fruitville Road within Sarasota’s downtown corridor, offering access to the city’s central business, dining, and residential areas. Its location also provides convenient connections to nearby neighborhood amenities and major regional thoroughfares. The units are offered with an NNN lease structure supported by the existing property configuration.
Key Highlights
- Two connected second‑floor office units
- Central air conditioning
- Two reserved on‑site parking spaces
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
$39,648
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
4.17%
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%
$792,960
$793.0K
Cap Rate 7%
$566,400
$566.4K
Cap Rate 9%
$440,533
$440.5K
Market Conditions
NOI Build-Up for 2,428 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
$55.9K $23.04/SF
− Vacancy
−$3.1K −$1.27/SF
EGI
$52.9K $21.77/SF
− OpEx
−$13.2K −$5.44/SF
NOI
$39.6K $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%
$792,960
Cap Rate 7%
$566,400
Cap Rate 9%
$440,533
Alternative Uses
Best Use
Office B
$566.4K
$495.6K – $660.8K
NOI $39,648 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.0K
$624.8K – $833.0K
NOI $49,980 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two connected office units provide central air and reserved on-site parking in downtown Sarasota.
Where is this office units located?
The property is located at 1348 FRUITVILLE ROAD Sarasota, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two connected second‑floor office units; Central air conditioning; Two reserved on‑site parking spaces
