Mixed-Use Property with
For Sale
$2,747,000
227 CENTRAL AVE, Sarasota, FL 34236
Two-level property combines workspace, meeting areas, storage, and a kitchen with flexible residential and commercial zoning.
Property Size5,918 SF
Days on Market450
Property Features for 227 CENTRAL AVE
General Information
Standard status
Active
Size
5,918 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$23,488
Building Details
Building Size
5,918 SF
Year Built
1985
Listing Agency:
PREMIER PLUS REALTY
(941) 228-0077
Listed By:
Dawn Cohen · License #3448110
Source:
Daniellegladdingco
Added: May 14, 2025
Changed: Aug 3
Last Checked: Aug 6 at 4:38AM
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 PREMIER PLUS REALTY
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.
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 = 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
$103,750
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
3.78%
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%
$2,075,000
$2.1M
Cap Rate 7%
$1,482,143
$1.5M
Cap Rate 9%
$1,152,778
$1.2M
Market Conditions
NOI Build-Up for 5,918 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
$177.5K $30.00/SF
− Vacancy
−$11.5K −$1.95/SF
EGI
$166.0K $28.05/SF
− OpEx
−$62.2K −$10.52/SF
NOI
$103.7K $17.53/SF
Area
Manatee County, FL
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,075,000
Cap Rate 7%
$1,482,143
Cap Rate 9%
$1,152,778
Alternative Uses
Best Use
Mixed Use
$1.48M
$1.30M – $1.73M
NOI $103,750 @ 7.0% cap · market cap 3.78%
Second Best
Office B
$1.38M
$1.21M – $1.61M
NOI $96,639 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,821 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,705
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
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
