Opportunity Zone Leased Office
For Sale
$6,925,000
1844-1864 17th St., Sarasota, FL 34234
Long-term state tenants in an Opportunity Zone.
Property Size43,310 SF
Days on Market224
Property Features for 1844-1864 17th St.
General Information
Standard status
Active
Size
43,310 SF
Class
B
Property subtype
Office
Net Operating Income
$485,000
Building Details
Building Size
43,310 SF
Year Built
1982
Listed By:
Ken Hoskinson, Jr. · License #FL #SL 648297
(941) 915-7994
Source:
Hembreeco
Added: Mar 6
Changed: Oct 10
Last Checked: Oct 14 at 8:41PM
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 Ken Hoskinson, Jr.
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Investment Insights
Based on property information with market context.
This commercial property features long-term state tenants and is situated in an Opportunity Zone. The state leases are full service. The property appears to require no deferred maintenance, potentially simplifying ownership.
Key Highlights
- Long‑term state tenants provide stable income.
- Located in an Opportunity Zone, offering potential tax benefits.
- 7.0% CAP rate indicates strong investment return.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$631,460
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,629,200
$12.6M
Cap Rate 7%
$9,020,857
$9.0M
Cap Rate 9%
$7,016,222
$7.0M
Market Conditions
NOI Build-Up for 43,310 SF
Gross rent
$935.5K $21.60/SF
− Vacancy
−$93.5K −$2.16/SF
EGI
$841.9K $19.44/SF
− OpEx
−$210.5K −$4.86/SF
NOI
$631.5K $14.58/SF
Area
Sarasota County, FL
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,629,200
Cap Rate 7%
$9,020,857
Cap Rate 9%
$7,016,222
Alternative Uses
Best Use
Office B
$9.02M
$7.89M – $10.52M
NOI $631,460 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.31M
$10.77M – $14.36M
NOI $861,633 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Long-term state tenants in an Opportunity Zone.
Where is this office building located?
The property is located at 1844-1864 17th St. Sarasota, FL.
What is the asking price?
The asking price for this property is $6,925,000.
What are key features of this property?
This property features: Long‑term state tenants provide stable income.; Located in an Opportunity Zone, offering potential tax benefits.; 7.0% CAP rate indicates strong investment return.**
