Retail Storefront
For Sale
$365,000
234 N RHODES Ave 108, Sarasota, FL 34237
For-sale retail storefront suite in a strip-mall setting, positioned along N Rhodes Avenue in Sarasota County.
Property Size1,050 SF
Days on Market76
Property Features for 234 N RHODES Ave 108
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,685
Building Details
Building Size
1,050 SF
Year Built
2007
Listing Agency:
DOUGLAS ELLIMAN
(941) 587-6135
Listed By:
Rex Glasson · License #BK3067512
(941) 587-6135
Source:
Elliman
Added: Jun 10
Changed: Aug 23
Last Checked: Aug 24 at 10:51AM
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 DOUGLAS ELLIMAN
Investment Insights
Based on property information with market context.
This for-sale retail storefront suite is identified as Unit 108 at 234 N Rhodes Avenue. The offering falls within the property’s strip-mall and storefront property categories, aligning with a retail-focused buildout suitable for street-level merchandising and customer access.
The property is located in Sarasota, Florida (Sarasota County). Public directions indicate travel east on Fruitville past Tuttle, then left on Rhodes to reach the address.
As a storefront unit, this space is a practical fit for retail operators seeking a dedicated, street-facing location within a multi-tenant retail setting. It is well-suited for businesses that benefit from walk-in customer traffic and a retail storefront presence, based on the property type and suite configuration provided in the listing information.
The property is located in Sarasota, Florida (Sarasota County). Public directions indicate travel east on Fruitville past Tuttle, then left on Rhodes to reach the address.
As a storefront unit, this space is a practical fit for retail operators seeking a dedicated, street-facing location within a multi-tenant retail setting. It is well-suited for businesses that benefit from walk-in customer traffic and a retail storefront presence, based on the property type and suite configuration provided in the listing information.
Key Highlights
- Retail storefront suite in a strip‑mall setting
- Located along N Rhodes Avenue in Sarasota County
- Central air conditioning
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
$12,912
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
3.54%
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%
$258,240
$258.2K
Cap Rate 7%
$184,457
$184.5K
Cap Rate 9%
$143,467
$143.5K
Market Conditions
NOI Build-Up for 1,050 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
$18.9K $18.00/SF
− Vacancy
−$454 −$0.43/SF
EGI
$18.4K $17.57/SF
− OpEx
−$5.5K −$5.27/SF
NOI
$12.9K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$258,240
Cap Rate 7%
$184,457
Cap Rate 9%
$143,467
Alternative Uses
Best Use
Retail
$184.5K
$161.4K – $215.2K
NOI $12,912 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$308.8K
$270.2K – $360.2K
NOI $21,614 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 15%
Home Improvements & Furnishings 11%
Bank of America
Shops & Services
5,647 visits/mo
0.3 miles
Circle K
Shops & Services
5,229 visits/mo
0.3 miles
Texaco
Shops & Services
5,061 visits/mo
0.2 miles
Texaco Station
Shops & Services
4,930 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,114 visits/mo
0.2 miles
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 Retail in Sarasota, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale retail storefront suite in a strip-mall setting, positioned along N Rhodes Avenue in Sarasota County.
Where is this storefront property located?
The property is located at 234 N RHODES Ave 108 Sarasota, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Retail storefront suite in a strip‑mall setting; Located along N Rhodes Avenue in Sarasota County; Central air conditioning
