227 CENTRAL AVE, Sarasota, FL 34236

Building Details

Building Size 5,918 SF More

Year Built 1985 More

Listing Agency: PREMIER PLUS REALTY

Listed By: Dawn Cohen · License #3448110 Show Phone

Source: Daniellegladdingco

Added: May 14, 2025 Changed: Oct 31 Last Checked: Nov 8 at 12:06PM

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Investment Insights

Based on property information with market context.

This mixed-use property, built in 1985, offers a two-level layout with a kitchen, reception area, common space, meeting room, and storage closets. The second floor has its own private entrance, while the upstairs rooms provide space for adding closets. Both existing bathrooms may be converted into full baths, subject to applicable approvals. Five air-conditioning units support the building, and multiple driveway entrances provide access to the site.

The property occupies a corner lot and includes 15 on-site parking spaces. Zoning supports condominium, residential, and commercial uses, creating flexibility for a live-work configuration or other permitted mixed-use plans. The address is 227 Central Ave in Sarasota, Florida.

Key Highlights

• Zoning supports condominium, residential, and commercial uses
• 15 on‑site parking spaces on a corner lot
• Second floor includes a private entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,414

Cap Rate

3.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,108,280 $2.1M

Cap Rate 7%

$1,505,914 $1.5M

Cap Rate 9%

$1,171,267 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,918 SF

Gross rent

$177.5K $30.00/SF

− Vacancy

−$8.9K −$1.50/SF

EGI

$168.7K $28.50/SF

− OpEx

−$63.2K −$10.69/SF

NOI

$105.4K $17.81/SF

Area

Sarasota County, FL

Vacancy

5.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,108,280

Cap Rate 7%

$1,505,914

Cap Rate 9%

$1,171,267

Alternative Uses

Best Use

Mixed Use

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,414 @ 7.0% cap · market cap 3.84%

Second Best

Office B

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,284 @ 7.0% cap · market cap 3.14%

Theoretical Best

Office A

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,736 @ 7.0% cap · market cap 4.29%

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

National Board of Real ... Real Estate Agency Dennis Kuty Real Estate Agency Legacy Title & Escrow ... Title Company USA Mortgage Loan Service

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Florist Clothing & Fashion Store Mobile Phone Store Pet Store

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

Location Intelligence

Trade Area within ½ mile

4,803

Businesses Nearby

Explore this area Business Placement

Demographics for 34236, FL

14,083

Population

11,661

Households

1.2

Avg Household Size

66

Median Age

62%

College-Educated

96%

High-School Grad

3.6 sq mi

ZIP Area

3,912

Density / Sq Mi

$96,400

Median Household Income

$48,828

Median Earnings

$2,010

Median Rent

$917,100

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Sarasota, FL

$538 Jul

$695 Aug

$697 Sep

$645 Oct

Properties on Market for Mixed-use properties in Sarasota

Jul

Aug

Sep

Oct

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?

Mixed-use property - Two-level property combines workspace, meeting areas, storage, and a kitchen with flexible residential and commercial zoning.

Where is this mixed-use property located?

The property is located at 227 CENTRAL AVE Sarasota, FL.

What is the asking price?

The asking price for this property is $2,747,000.

What are key features of this property?

This property features: Zoning supports condominium, residential, and commercial uses; 15 on‑site parking spaces on a corner lot; Second floor includes a private entrance