Four-Story Office Building with
For Sale
$9,995,000
1620 TAMIAMI TRAIL, Port Charlotte, FL 33948
Class B office building with multiple suite configurations, ground-floor parking, and modernized building systems.
Property Size49,172 SF
Days on Market223
Property Features for 1620 TAMIAMI TRAIL
General Information
Standard status
Active
Size
49,172 SF
Class
B
Property subtype
Commercial
Zoning
CG
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$44,138
Building Details
Building Size
49,172 SF
Year Built
1992
Stories
4
Listing Agency:
RE/MAX ALLIANCE GROUP
(941) 724-3448
Listed By:
Lee Brewer · License #0681592
(941) 724-3448
Source:
Mbifloridarealty
Added: Jan 13
Changed: Aug 24
Last Checked: Aug 24 at 3:02PM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
This distinctive four-story Class B office building features a red brick and glass exterior and an interior supported by multiple finished office suites across the ground, second, and third floors. Built in 1992, it includes public restrooms on each floor and a shared kitchen area, with some offices offering private restrooms and dedicated kitchen or breakroom facilities. The property has been carefully maintained and has undergone extensive capital improvements, including upgraded HVAC and chiller systems with computerized controls, modernized fire and sprinkler systems, plumbing upgrades, and a fully updated elevator with enhanced safety features. Additional improvements include rooftop upgrades with new drains, renovated balconies, camera surveillance at lobby and stairwell access points, refreshed interior paint, newly carpeted common areas, and maintained building infrastructure.
The building is located in the Murdoch Business Center in Port Charlotte and is surrounded by a mix of business, retail, and industrial enterprises. It offers ample ground-level parking for tenant and visitor convenience, supporting a practical day-to-day operating environment.
With multiple suite options on several floors and flexibility from both shared and select private restroom and breakroom setups, the property can accommodate a range of professional office users seeking a well-maintained, systems-upgraded facility. An adjoining, separately constructed bank building further broadens the complex’s versatility for qualified uses within the office setting.
The building is located in the Murdoch Business Center in Port Charlotte and is surrounded by a mix of business, retail, and industrial enterprises. It offers ample ground-level parking for tenant and visitor convenience, supporting a practical day-to-day operating environment.
With multiple suite options on several floors and flexibility from both shared and select private restroom and breakroom setups, the property can accommodate a range of professional office users seeking a well-maintained, systems-upgraded facility. An adjoining, separately constructed bank building further broadens the complex’s versatility for qualified uses within the office setting.
Key Highlights
- Four‑story Class B office building built in 1992 with red brick and glass exterior
- Extensive capital improvements include upgraded HVAC and chiller systems with computerized controls
- Fire and sprinkler systems replaced and modernized; plumbing upgrades completed
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
$608,592
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
6.09%
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%
$12,171,840
$12.2M
Cap Rate 7%
$8,694,171
$8.7M
Cap Rate 9%
$6,762,133
$6.8M
Market Conditions
NOI Build-Up for 49,172 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
$1.06M $21.60/SF
− Vacancy
−$250.7K −$5.10/SF
EGI
$811.5K $16.50/SF
− OpEx
−$202.9K −$4.13/SF
NOI
$608.6K $12.38/SF
Area
Charlotte County, FL
Vacancy
23.60%
Lease Rate
$21.60 /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%
$12,171,840
Cap Rate 7%
$8,694,171
Cap Rate 9%
$6,762,133
Alternative Uses
Best Use
Office B
$8.69M
$7.61M – $10.14M
NOI $608,592 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.10M
$14.09M – $18.78M
NOI $1,127,022 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 33948, FL
17,190
Population
9,297
Households
1.8
Avg Household Size
57
Median Age
20%
College-Educated
92%
High-School Grad
13.0 sq mi
ZIP Area
1,322
Density / Sq Mi
$60,788
Median Household Income
$33,979
Median Earnings
$1,384
Median Rent
$279,500
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 building - Class B office building with multiple suite configurations, ground-floor parking, and modernized building systems.
Where is this office building located?
The property is located at 1620 TAMIAMI TRAIL Port Charlotte, FL.
What is the asking price?
The asking price for this property is $9,995,000.
What are key features of this property?
This property features: Four‑story Class B office building built in 1992 with red brick and glass exterior; Extensive capital improvements include upgraded HVAC and chiller systems with computerized controls; Fire and sprinkler systems replaced and modernized; plumbing upgrades completed
