Building Details

Year Built 2007

Tenancy Single

Listing Agency: LOYD ROBBINS & CO. LLC Show Phone

Listed By: Loyd Robbins · License #0128671 Show Phone

Source: Endlesssummerrealty

Added: Oct 28 Changed: Oct 30 Last Checked: Nov 1 at 5:05AM

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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 LOYD ROBBINS & CO. LLC

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,017-square-foot office condominium is an end unit in Franklin Field Business Center. Its layout includes three private offices, a reception and waiting area, a kitchenette and break area, storage, and a private restroom. Windows on multiple sides bring natural light into the offices and shared work areas. Wood-look flooring in the reception area and hallway, neutral finishes, and updated cabinetry complete the interior. The building dates to 2007.

The property is at 202 Rhodes Avenue in Sarasota, with access to downtown, Fruitville Road, and I-75.

Key Highlights

• 1,017 SF end‑unit office condominium
• Three private offices, reception and waiting area, kitchenette, storage, and private restroom
• Windows along multiple sides provide natural light in offices and main work areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,828

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$296,560 $296.6K

Cap Rate 7%

$211,829 $211.8K

Cap Rate 9%

$164,756 $164.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,017 SF

Gross rent

$22.0K $21.60/SF

− Vacancy

−$2.2K −$2.16/SF

EGI

$19.8K $19.44/SF

− OpEx

−$4.9K −$4.86/SF

NOI

$14.8K $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%

$296,560

Cap Rate 7%

$211,829

Cap Rate 9%

$164,756

Alternative Uses

Best Use

Office B

$211.8K

$185.4K – $247.1K (±1% cap)

NOI $14,828 @ 7.0% cap · market cap 4.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$289.0K

$252.9K – $337.2K (±1% cap)

NOI $20,233 @ 7.0% cap · market cap 5.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

TeamLogic IT Tech Support Center Law Office of Scott ... Law Firm Home Helpers Home ... Home Health Care Service Dr Nina's animal ... Veterinary Clinic Fraud Risk Management ... Association Or Organization

Suggested Use

Top Pick Auto Parts Store Hair Salon Parking Lot & Garage Plumbing Service (Bike/Boat/Book/etc) Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,034

Businesses Nearby

Explore this area Business Placement

Demographics for 34237, FL

16,740

Population

9,194

Households

1.8

Avg Household Size

42

Median Age

26%

College-Educated

89%

High-School Grad

3.9 sq mi

ZIP Area

4,292

Density / Sq Mi

$63,133

Median Household Income

$35,044

Median Earnings

$1,524

Median Rent

$234,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - A private restroom, kitchenette, and reception area support a practical professional-office layout.

Where is this office unit located?

The property is located at 202 RHODES AVENUE #101 Sarasota, FL.

What is the asking price?

The asking price for this property is $339,900.

What are key features of this property?

This property features: 1,017 SF end‑unit office condominium; Three private offices, reception and waiting area, kitchenette, storage, and private restroom; Windows along multiple sides provide natural light in offices and main work areas