End-Cap Professional Office
New
For Sale
$365,000
234 N Rhodes Ave Unit 108, Sarasota, FL 34237
Efficient office condominium layout with private workrooms, meeting space, reception, kitchenette, storage, and dedicated restroom.
Property Size1,050 SF
Price / SF$347.62
Days on Market4
Property Features for 234 N Rhodes Ave Unit 108
General Information
Standard status
Active
Size
1,050 SF
Additional Details
HOA Fee
$409
Office Units
1
Building Details
Year Built
2007
Listing Agency:
DOUGLAS ELLIMAN
Listed By:
Rex Glasson · License #3067512
(941) 587-6135
Source:
Susannelosso
Added: Sep 8
Last Checked: Sep 9 at 9:47PM
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 end-cap office condominium at 234 N Rhodes Ave Unit 108 provides approximately 1,050 SF of professional workspace in a 2007 building. The interior includes three private offices, a conference room, reception area, kitchenette, private restroom, dedicated storage/IT room, and separate front and rear entrances. Additional windows bring natural light to the suite and support its end-cap configuration.
The property is in Sarasota, minutes from Downtown Sarasota and major commercial corridors. Its office layout accommodates a range of professional users, including medical, dental, legal, accounting, financial, insurance, real estate, consulting, and wellness practices. Buyer approval is required by the condominium association, which also maintains a first right of refusal.
The property is in Sarasota, minutes from Downtown Sarasota and major commercial corridors. Its office layout accommodates a range of professional users, including medical, dental, legal, accounting, financial, insurance, real estate, consulting, and wellness practices. Buyer approval is required by the condominium association, which also maintains a first right of refusal.
Key Highlights
- End‑cap office condominium with additional windows and natural light
- Approximately 1,050 SF of office space
- Three private offices plus a conference room and reception area
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
$17,146
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
4.70%
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%
$342,920
$342.9K
Cap Rate 7%
$244,943
$244.9K
Cap Rate 9%
$190,511
$190.5K
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
$24.2K $23.04/SF
− Vacancy
−$1.3K −$1.27/SF
EGI
$22.9K $21.77/SF
− OpEx
−$5.7K −$5.44/SF
NOI
$17.1K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$342,920
Cap Rate 7%
$244,943
Cap Rate 9%
$190,511
Alternative Uses
Best Use
Office B
$244.9K
$214.3K – $285.8K
NOI $17,146 @ 7.0% cap · market cap 4.70%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Office units - Efficient office condominium layout with private workrooms, meeting space, reception, kitchenette, storage, and dedicated restroom.
Where is this office units located?
The property is located at 234 N Rhodes Ave Unit 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: End‑cap office condominium with additional windows and natural light; Approximately 1,050 SF of office space; Three private offices plus a conference room and reception area
