Office Condo in Station Way
New
For Sale
$819,000
5260 STATION Way, Sarasota, FL 34233
Established office condominium within a six-building office campus, occupied by the tenant since 2007.
Property Size2,520 SF
Days on Market3
Property Features for 5260 STATION Way
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,504
Building Details
Building Size
2,520 SF
Year Built
2007
Tenancy
Single
Listed By:
Barry Edwards
(941) 914-1887
Source:
Elliman
Added: Sep 5
Last Checked: Sep 6 at 11:48AM
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 Barry Edwards
Investment Insights
Based on property information with market context.
This office condominium is located in Building B of Clark Station Office Park, a six-building campus. The property was built in 2007 and has been occupied by the tenant since its origin that year.
The office park is located on Station Way in Sarasota, Florida. WalkScore is 27, indicating a car-dependent setting, while BikeScore is 30, described as somewhat bikeable.
The office park is located on Station Way in Sarasota, Florida. WalkScore is 27, indicating a car-dependent setting, while BikeScore is 30, described as somewhat bikeable.
Key Highlights
- Office condominium in Building B of a six‑building campus
- Built in 2007
- Tenant occupancy dates to 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
$41,151
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
5.02%
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%
$823,020
$823.0K
Cap Rate 7%
$587,871
$587.9K
Cap Rate 9%
$457,233
$457.2K
Market Conditions
NOI Build-Up for 2,520 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
$58.1K $23.04/SF
− Vacancy
−$3.2K −$1.27/SF
EGI
$54.9K $21.77/SF
− OpEx
−$13.7K −$5.44/SF
NOI
$41.2K $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%
$823,020
Cap Rate 7%
$587,871
Cap Rate 9%
$457,233
Alternative Uses
Best Use
Office B
$587.9K
$514.4K – $685.9K
NOI $41,151 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$741.1K
$648.4K – $864.6K
NOI $51,874 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 34233, FL
18,723
Population
9,427
Households
2
Avg Household Size
52
Median Age
41%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
3,069
Density / Sq Mi
$77,041
Median Household Income
$44,222
Median Earnings
$1,787
Median Rent
$364,300
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 - Established office condominium within a six-building office campus, occupied by the tenant since 2007.
Where is this office units located?
The property is located at 5260 STATION Way Sarasota, FL.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Office condominium in Building B of a six‑building campus; Built in 2007; Tenant occupancy dates to 2007
