Leased End-Cap Office
234 N RHODES AVE #105, Sarasota, FL 34237
For Sale
$365,000
The leased suite has three private offices, a reception area, kitchenette, private restroom, and separate front and rear entrances.
Property Size1,050 SF
Price / SF$347.62
Days on Market205
Property Features for 234 N RHODES AVE #105
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Gross Income
HOA Fee
Additional Details
Condition
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
DOUGLAS ELLIMAN
Listed By:
Rex Glasson · License FL BK3067512
(941) 867-6199
Source:
Theosipovgroup
Added: Apr 24
Changed: Nov 11
Last Checked: Nov 13 at 10:42AM
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
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Investment Insights
Based on property information with market context.
This 1,050-square-foot office condominium, built in 2007, is configured with three private offices, a reception and waiting area, kitchenette, private restroom, and storage/IT room. As an end-cap unit, it has additional windows, along with entry points at both the front and rear. A new two-year lease is in place.
The property is in Sarasota, a short drive from Downtown. Association approval and a right of first refusal apply to a purchase.
The property is in Sarasota, a short drive from Downtown. Association approval and a right of first refusal apply to a purchase.
Key Highlights
- 1,050‑square‑foot end‑cap office condominium
- Three private offices, reception/waiting area, kitchenette, private restroom, and storage/IT room
- Front and rear entrances; end‑cap position adds windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,309
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,180
$306.2K
Cap Rate 7%
$218,700
$218.7K
Cap Rate 9%
$170,100
$170.1K
Market Conditions
NOI Build-Up for 1,050 SF
Gross rent
$22.7K $21.60/SF
− Vacancy
−$2.3K −$2.16/SF
EGI
$20.4K $19.44/SF
− OpEx
−$5.1K −$4.86/SF
NOI
$15.3K $14.58/SF
Area
Sarasota County, FL
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,180
Cap Rate 7%
$218,700
Cap Rate 9%
$170,100
Alternative Uses
Best Use
Office B
$218.7K
$191.4K – $255.2K
NOI $15,309 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.4K
$261.1K – $348.2K
NOI $20,889 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
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
$234,400
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Sarasota, FL
Properties on Market for Office Units in Sarasota
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The leased suite has three private offices, a reception area, kitchenette, private restroom, and separate front and rear entrances.
Where is this office unit located?
The property is located at 234 N RHODES AVE #105 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: 1,050‑square‑foot end‑cap office condominium; Three private offices, reception/waiting area, kitchenette, private restroom, and storage/IT room; Front and rear entrances; end‑cap position adds windows
