Downtown Mixed-Use
For Sale
$2,747,000
227 CENTRAL Avenue, Sarasota, FL 34236
Commercial Sale, SARASOTA, FL
Property Size5,918 SF
Lot Size0.22 Acres
Price / SF$464.18
Days on Market474
Property Features for 227 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTC
Appliances
Refrigerator
Subdivision
PLAT OF SARASOTA EXHIBIT
Directions
Corner of Central Ave. And Fruitville Rd.
Standard status
Active
APN
2026130013
Size
5,918 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 21 & 23 BLK 17 LESS R/W FOR 3RD ST IN OR 1999-1446 PLAT OF SARASOTA
Tax Annual Amount
23488
Legal Description
LOTS 21 & 23 BLK 17 LESS R/W FOR 3RD ST IN OR 1999-1446 PLAT OF SARASOTA
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
kitchen
common area
storage closets
meeting room
reception area
Building Details
Year built
1985
Floors in Building
2
Flooring type
Laminate, Carpet, Tile - Ceramic
Building materials
Concrete
Roof type
Metal
Listing Agency:
PREMIER PLUS REALTY
(941) 228-0077
Listed By:
Dawn Cohen · License #3448110
(941) 228-0077
Added: May 14, 2025
Changed: Aug 24
Last Checked: Aug 30 at 3:06PM
MLS# R4909344
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,918-square-foot mixed-use property sits on a 0.22-acre corner lot and was built in 1985. The building includes a kitchen, common area, storage closets, meeting room, reception area, and two bathrooms. The second floor has a private entrance, while multiple driveway entrances support access across the site. Five air-conditioning units, central heating, laminate, carpet, and ceramic tile flooring are in place.
The property is zoned DTC and includes 15 on-site parking spaces. Public water and public sewer serve the site. The concrete building has a metal roof, with a refrigerator included among the appliances.
The property is zoned DTC and includes 15 on-site parking spaces. Public water and public sewer serve the site. The concrete building has a metal roof, with a refrigerator included among the appliances.
Key Highlights
- 5,918‑square‑foot mixed‑use property on a 0.22‑acre corner lot
- DTC zoning supports mixed‑use, residential, and commercial applications
- 15 on‑site parking spaces with several driveway entrances
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
—
—
no second resolved use
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
Property Profile
Current Use
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
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 - Concrete mixed-use property with on-site parking, multiple entrances, and a second-floor private entry.
Where is this mixed-use property located?
The property is located at 227 CENTRAL Avenue 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: 5,918‑square‑foot mixed‑use property on a 0.22‑acre corner lot; DTC zoning supports mixed‑use, residential, and commercial applications; 15 on‑site parking spaces with several driveway entrances
