Two-Story Medical Office
For Sale
Contact for pricing
2089 Hawthorne Street, Sarasota, FL 34239
Vacant two-story medical office building with a built-out clinic and four operating rooms.
Property Size13,632 SF
Lot Size1.13 Acres
Price / SF$421.80
Days on Market137
Property Features for 2089 Hawthorne Street
General Information
Standard status
Active
Size
13,632 SF
Class
B
Lot size
1.13 Acres
Property subtype
Office
Investment Type
Owner/User
Additional Details
Traffic Count
58,000 vehicles/day
Building Details
Year Built
2002
Buildings
1
Stories
2
Units
2
Listing Agency:
J.H. Winokur Inc
Listed By:
Jeffrey Winokur · License #NY 31WI0804493
Source:
Crexi
Added: Apr 22
Changed: Aug 25
Last Checked: Sep 2 at 3:06PM
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 J.H. Winokur Inc
Investment Insights
Based on property information with market context.
Former Digestive Health Center is a vacant, purpose-built two-story medical office building totaling 13,632 SF. The property includes a fully built-out clinic and a 4 operating room surgery center, providing immediate healthcare functionality for an owner-operator or medical practice.
Located directly across from Sarasota Memorial Hospital and about a 500-foot walk to the hospital campus, the site is just off S. Tamiami Trail. The property sits on 1.13 acres with approximately 58,000 vehicles per day and strong visibility from the main access route.
For purchase, the building supports medical use with an on-site operating room component and clinic improvements already in place, making it well-suited to specialty care and multi-disciplinary medical operations.
Located directly across from Sarasota Memorial Hospital and about a 500-foot walk to the hospital campus, the site is just off S. Tamiami Trail. The property sits on 1.13 acres with approximately 58,000 vehicles per day and strong visibility from the main access route.
For purchase, the building supports medical use with an on-site operating room component and clinic improvements already in place, making it well-suited to specialty care and multi-disciplinary medical operations.
Key Highlights
- Vacant 13,632 SF, two‑story medical office building built in 2002
- Includes a 4‑operating‑room surgery center plus a fully built‑out clinic
- Located directly across from Sarasota Memorial Hospital, about a 500‑foot walk to the hospital campus
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
$222,605
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
3.87%
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%
$4,452,100
$4.5M
Cap Rate 7%
$3,180,071
$3.2M
Cap Rate 9%
$2,473,389
$2.5M
Market Conditions
NOI Build-Up for 13,632 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
$314.1K $23.04/SF
− Vacancy
−$17.3K −$1.27/SF
EGI
$296.8K $21.77/SF
− OpEx
−$74.2K −$5.44/SF
NOI
$222.6K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /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%
$4,452,100
Cap Rate 7%
$3,180,071
Cap Rate 9%
$2,473,389
Alternative Uses
Best Use
Office B
$3.18M
$2.78M – $3.71M
NOI $222,605 @ 7.0% cap · market cap 3.87%
Second Best
Healthcare Medical
$3.01M
$2.63M – $3.51M
NOI $210,459 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,612 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
58,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,331
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Vacant two-story medical office building with a built-out clinic and four operating rooms.
Where is this medical center located?
The property is located at 2089 Hawthorne Street Sarasota, FL.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Vacant 13,632 SF, two‑story medical office building built in 2002; Includes a 4‑operating‑room surgery center plus a fully built‑out clinic; Located directly across from Sarasota Memorial Hospital, about a 500‑foot walk to the hospital campus
