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    1800 2nd St Sarasota, FL 34236

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    Prominent office building in downtown Sarasota with modern amenities.

    Type:Office
    Property size:
    30,000 SF
    Added:
    Dec 8, 2022
    Days on Market:
    1246
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 1800 2nd St

    General Information

    Standard status
    Active
    Size
    30,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 1800 2nd St Contact us

    Suite 890 $29 /Mo

    Size
    1,201 SF
    Type
    Office
    Contact us

    Suite 105 $29 /Mo

    Size
    4,425 SF
    Type
    Office
    Contact us

    Suite 957 $29 /Mo

    Size
    823 SF
    Type
    Office
    Contact us

    Suite 602 $29 /Mo

    Size
    3,632 SF
    Type
    Office
    Contact us

    Suite 735 $29 /Mo

    Size
    2,354 SF
    Type
    Office
    Contact us

    Suite 954 $29 /Mo

    Size
    2,259 SF
    Type
    Office
    Contact us

    Suite 606 $29 /Mo

    Size
    8,352 SF
    Type
    Office
    Contact us

    Suite 740 $29 /Mo

    Size
    1,619 SF
    Type
    Office
    Contact us

    Suite 770 $29 /Mo

    Size
    1,599 SF
    Type
    Office
    Contact us

    Suite 102 $29 /Mo

    Size
    6,340 SF
    Type
    Office
    Contact us

    Suite 797 $29 /Mo

    Size
    574 SF
    Type
    Office
    Contact us

    Suite 603 $29 /Mo

    Size
    2,832 SF
    Type
    Office
    Contact us

    Suite 855 $29 /Mo

    Size
    3,461 SF
    Type
    Office
    Contact us

    Suite 878 $29 /Mo

    Size
    3,042 SF
    Type
    Office
    Contact us

    Suite 720 $29 /Mo

    Size
    Type
    Office
    Contact us

    Suite 800 $29 /Mo

    Size
    2,688 SF
    Type
    Office
    Suite 800 is accessed through the open air atrium in the East Tower. The space consists...
    show more
    Contact us

    Suite 830 $29 /Mo

    Size
    2,196 SF
    Type
    Office
    Suite 830 is accessed through the open-air atrium on the 8th floor in the East tower....
    show more
    Contact us

    Suite 802 $29 /Mo

    Size
    3,395 SF
    Type
    Office
    Suite 802 is accessed through the open-air atrium on the 8th floor in the East tower....
    show more
    Contact us

    Suite 806 $29 /Mo

    Size
    2,197 SF
    Type
    Office
    Suite 806 is accessed through the open air atrium in the East Tower. The space consists...
    show more
    Contact us

    Suite 892 $29 /Mo

    Size
    2,419 SF
    Type
    Office
    Contact us

    8th Floor East Tower $29 /Mo

    Size
    30,545 SF
    Type
    Office
    Contact us

    Suite 970 $29 /Mo

    Size
    3,574 SF
    Type
    Office
    Suite 970 is accessed through the open-air atrium on the 9th floor in the West tower....
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Kevin Robbins

    Listing agent Kevin Robbins License #SL3042951

    Listing office Harry E Robbins Associate

    Listing date Dec 8, 2022

    Source Crexi

    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 Harry E Robbins Associate

    HighLights

    • Iconic downtown Sarasota office building with high visibility.
    • Recently renovated upscale elevator core with floor‑to‑ceiling windows and remarkable views.
    • On‑site parking garages providing increased accessibility.
    • Suites feature multiple windows offering abundant natural light and views of Downtown Sarasota and Sarasota Bay.
    • On‑site property management and brand new fitness center amenity.
    • Unique, beautifully landscaped open‑air atriums.

    Overview

    Iconic Downtown Sarasota Office Building

    This iconic office building is located in the heart of downtown Sarasota. The property features two nine-story towers connected by a recently renovated elevator core with floor-to-ceiling windows that offer views of Sarasota. The building includes two on-site parking garages on floors 2-6 of each tower. The property is located within blocks of the Sarasota County courthouse, financial institutions, and numerous restaurants. On-site property management is available, and tenants have access to a new on-site fitness center. Office suites are accessed through landscaped courtyards. Multiple windows within each office suite provide natural light and views of Downtown Sarasota and Sarasota Bay. Each suite features high-end finishes and interior restrooms. Office suites are available from 1,200 SF to 30,000 SF with a variety of floor plans. The building is highlighted by two open-air atriums.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kimley-Horn Engineering Consultant Raise the Bar Business ... Accounting Firm eCampaignPro (Bike/Boat/Book/etc) Store iVEZT (Bike/Boat/Book/etc) Store EZ IRA (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Law Firm Daycare Center Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.5341594
    Latitude
    27.3379747

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    FAQs

    What type of property is this?
    Office building - Prominent office building in downtown Sarasota with modern amenities.
    Where is this office building located?
    The property is located at 1800 2nd St Sarasota, FL.
    What are key features of this property?
    This property features: Iconic downtown Sarasota office building with high visibility.; Recently renovated upscale elevator core with floor‑to‑ceiling windows and remarkable views.; On‑site parking garages providing increased accessibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kevin Robbins
    Real Estate License ID: SL3042951
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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