Second-Floor Office Double
For Sale
$950,000
1348 FRUITVILLE ROAD, Sarasota, FL 34236
Second-floor double office unit on Fruitville Road with on-site parking and income-earning flexibility for investors or owner-users.
Property Size2,428 SF
Price / SF$391.27
Days on Market110
Property Features for 1348 FRUITVILLE ROAD
General Information
Standard status
Active
Size
2,428 SF
Property subtype
Office
Additional Details
Office Units
2
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) 957-3730
Listed By:
Valarie Wadsworth · License #0689862
Source:
Xome
Added: May 6
Changed: Aug 21
Last Checked: Aug 22 at 3:40AM
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 offering is a 2,542 SF second-floor office double unit presented as two combined office spaces. It is positioned for office use with the flexibility to support either an owner-user or an investor approach based on existing income potential. The listing notes a lease rate of $25/SF NNN and also references quarterly condo fees for the combination of both units of $4,604 included in the NNN cost.
The property is located on Fruitville Road in downtown Sarasota and is described as highly visible within the downtown corridor. Access is supported by sufficient on-site parking, including two reserved spaces.
For tenants and owner-users, the second-floor layout can be a practical fit for teams that want an office address along a central, commercially active retail/office corridor. For investors, the asset is marketed around its existing income potential and the NNN structure, with condo fees for both units specifically called out as included in the NNN cost. The combination of two units also creates a straightforward option for occupancy planning where a single larger footprint may be desired.
The property is located on Fruitville Road in downtown Sarasota and is described as highly visible within the downtown corridor. Access is supported by sufficient on-site parking, including two reserved spaces.
For tenants and owner-users, the second-floor layout can be a practical fit for teams that want an office address along a central, commercially active retail/office corridor. For investors, the asset is marketed around its existing income potential and the NNN structure, with condo fees for both units specifically called out as included in the NNN cost. The combination of two units also creates a straightforward option for occupancy planning where a single larger footprint may be desired.
Key Highlights
- 2,542 SF second‑floor double office unit on Fruitville Road in downtown Sarasota
- Available for sale at $950,000 with lease rate of $25/SF NNN
- Central Air and guest facilities for 3
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
Lease Details
2
Office 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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor double office unit on Fruitville Road with on-site parking and income-earning flexibility for investors or owner-users.
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: 2,542 SF second‑floor double office unit on Fruitville Road in downtown Sarasota; Available for sale at $950,000 with lease rate of $25/SF NNN; Central Air and guest facilities for 3
