Renovated Medical Building Investment
For Sale
$3,350,000
1630 S Tuttle Ave, Sarasota, FL 34239
Turnkey medical building with high-end finishes and strong investment potential.
Property Size7,829 SF
Price / SF$427.90
Days on Market328
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Property Features for 1630 S Tuttle Ave
General Information
Standard status
Active
Size
7,829 SF
Class
A
Property subtype
Office
Building Details
Building Size
7,829 SF
Year Built
1981
Listing Agency:
SVN | Commercial Partners
Listed By:
David Carlson · License #SL3527910
(773) 458-3282
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 8
Last Checked: Oct 14 at 9:26PM
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 SVN | Commercial Partners
Investment Insights
Based on property information with market context.
This 7,829 square foot building, located in Sarasota, Florida, has been renovated and is presented as a turnkey investment opportunity. The property features high-end interior finishes and a versatile layout. It includes 14 fully-equipped exam rooms, an updated X-ray room, seven private staff offices, a spacious gym and physical therapy area, and a waiting area with dual reception desks. The building is of hurricane-proof construction. It is currently 100% occupied and leased by two medical professionals on a five-year triple net lease at a rate of $30 per square foot triple net. The property is near Sarasota Memorial Hospital and downtown Sarasota. The surrounding area offers access to cultural attractions, dining, and waterfront views, with the downtown district, Sarasota Bay, the Ringling Museum of Art, Marina Jack, and St. Armands Circle nearby. The property offers a 6.81% CAP rate with a yearly income of $234,870 with increases.
Key Highlights
- Turnkey investment property with 100% occupancy and strong investment potential.
- Leased by two medical professionals on a five‑year triple net lease at $30/ft, generating $234,870 yearly income with increases and a 6.81% CAP rate.
- Impeccably renovated 7,829 SF building with high‑end interior finishes and hurricane‑proof construction.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,732
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,874,640
$2.9M
Cap Rate 7%
$2,053,314
$2.1M
Cap Rate 9%
$1,597,022
$1.6M
Market Conditions
NOI Build-Up for 7,829 SF
Gross rent
$250.8K $32.04/SF
− Vacancy
−$11.3K −$1.44/SF
EGI
$239.6K $30.60/SF
− OpEx
−$95.8K −$12.24/SF
NOI
$143.7K $18.36/SF
Area
Sarasota County, FL
Vacancy
4.50%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,874,640
Cap Rate 7%
$2,053,314
Cap Rate 9%
$1,597,022
Alternative Uses
Best Use
Healthcare Medical
$2.05M
$1.80M – $2.40M
NOI $143,732 @ 7.0% cap · market cap 4.29%
Second Best
Office B
$1.63M
$1.43M – $1.90M
NOI $114,147 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,755 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34239, FL
15,049
Population
8,044
Households
1.9
Avg Household Size
52
Median Age
45%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,420
Density / Sq Mi
$76,378
Median Household Income
$42,017
Median Earnings
$1,522
Median Rent
$418,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Bayshore Animal Clinic — 2145 Hillview St, Sarasota, FL 34239
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical building with high-end finishes and strong investment potential.
Where is this medical office space located?
The property is located at 1630 S Tuttle Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Turnkey investment property with 100% occupancy and strong investment potential.; Leased by two medical professionals on a five‑year triple net lease at $30/ft, generating $234,870 yearly income with increases and a 6.81% CAP rate.; Impeccably renovated **7,829 SF building** with high‑end interior finishes and hurricane‑proof construction.
