Renovated Two-Story Wellness
For Sale
Contact for pricing
2345 Bee Ridge Rd, Sarasota, FL 34239
Salon and spa buildouts include treatment rooms, integrated sinks, and included FF&E.
Property Size3,670 SF
Price / SF$340.60
Days on Market159
Property Features for 2345 Bee Ridge Rd
General Information
Standard status
Active
Size
3,670 SF
Property subtype
Retail
Building Details
Year Built
1984
Year Renovated
2023
Buildings
1
Stories
2
Listing Agency:
Hembree & Associates Inc
(941) 951-1776
Listed By:
Joe Hembree · License #FL
Source:
Crexi
Added: Mar 26
Changed: Aug 31
Last Checked: Aug 31 at 1:42AM
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 Hembree & Associates Inc
Investment Insights
Based on property information with market context.
This 3,670-square-foot, two-story wellness property combines a salon-oriented ground floor with a spa-focused upper level. The building was extensively renovated in 2023 and includes furniture, fixtures, and equipment. The lower level is configured for full-service salon operations, while the second floor provides a pedicure station, private treatment rooms with integrated sinks, and executive office space.
Built in 1984, the property is positioned along Bee Ridge Road in Sarasota. Its existing improvements provide distinct service and office areas within one commercial building, supporting continued use as a spa and wellness facility.
Built in 1984, the property is positioned along Bee Ridge Road in Sarasota. Its existing improvements provide distinct service and office areas within one commercial building, supporting continued use as a spa and wellness facility.
Key Highlights
- 3,670 SF two‑story wellness property
- Extensively renovated in 2023
- Ground‑floor full‑service salon layout
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
$45,132
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
3.61%
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%
$902,640
$902.6K
Cap Rate 7%
$644,743
$644.7K
Cap Rate 9%
$501,467
$501.5K
Market Conditions
NOI Build-Up for 3,670 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
$66.1K $18.00/SF
− Vacancy
−$1.6K −$0.43/SF
EGI
$64.5K $17.57/SF
− OpEx
−$19.3K −$5.27/SF
NOI
$45.1K $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%
$902,640
Cap Rate 7%
$644,743
Cap Rate 9%
$501,467
Alternative Uses
Best Use
Retail
$644.7K
$564.2K – $752.2K
NOI $45,132 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$944.3K – $1.26M
NOI $75,546 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,197
Businesses Nearby
149k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Dining 30%
Groceries 16%
Apparel 12%
Aldi
Groceries
23,590 visits/mo
0.2 miles
McDonald's
Dining
23,544 visits/mo
0.4 miles
Macy's
Apparel
17,905 visits/mo
0.3 miles
Five Below
Shops & Services
17,183 visits/mo
0.5 miles
Sonny's BBQ
Dining
9,923 visits/mo
0.5 miles
Demographics for 34239, FL
15,049
Population
8,044
Households
1.9
Avg Household Size
52
Median Age
45%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,420
Density / Sq Mi
$76,378
Median Household Income
$42,017
Median Earnings
$1,522
Median Rent
$418,300
Median Home Value
Market
Vacancy Rate% for Retail in Sarasota, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Center For Acupuncture Inc — 4370 S Tamiami Trail Suite 312, Sarasota, FL 34231
- The Point SRQ — 4370 S Tamiami Trail STE 322, Sarasota, FL 34231
- Root Therapies, LLC — 4370 S Tamiami Trail #314, Sarasota, FL 34231
- Dynamics In Healing Inc — 4370 S Tamiami Trail # 235, Sarasota, FL 34231
- Sarasota Cryotherapy — 4370 S Tamiami Trail Suite 240, Sarasota, FL 34231
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Salon and spa buildouts include treatment rooms, integrated sinks, and included FF&E.
Where is this spa & wellness property located?
The property is located at 2345 Bee Ridge Rd Sarasota, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,670 SF two‑story wellness property; Extensively renovated in 2023; Ground‑floor full‑service salon layout
