Renovated Multi-Tenant Office
New
For Sale
$2,850,000
2520 Tamiami Trl N, Nokomis, FL 34275
Three tenants occupy the property under two-year lease terms, supporting current income and near-term flexibility.
Property Size11,038 SF
Days on Market5
Property Features for 2520 Tamiami Trl N
General Information
Standard status
Active
Size
11,038 SF
Class
A
Property subtype
Office - General Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
11,038 SF
Year Built
2003
Year Renovated
2005
Units
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Core Commercial Group
(941) 387-1200
Listed By:
Diane Lawson · License #BK581055
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 6:34AM
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 Core Commercial Group
Investment Insights
Based on property information with market context.
This multi-tenant office property includes three occupied tenant spaces and a seller lease-back covering part of the building. Each tenant is reported to be on a two-year term, creating an existing income profile while retaining near-term flexibility for an owner-user or future repositioning. The building received a full interior renovation in 2025, with updated flooring, paint, and HVAC systems.
The property has direct frontage on US-41 at 2520 Tamiami Trail N in Nokomis, with connectivity between Sarasota and Venice. It is also near Sarasota Memorial Hospital’s Venice campus and the Nokomis/Laurel submarket. A roof installation is scheduled for September 2026.
The property has direct frontage on US-41 at 2520 Tamiami Trail N in Nokomis, with connectivity between Sarasota and Venice. It is also near Sarasota Memorial Hospital’s Venice campus and the Nokomis/Laurel submarket. A roof installation is scheduled for September 2026.
Key Highlights
- Three tenants occupy the property under two‑year lease terms
- Seller lease‑back covers a portion of the building
- Full interior renovation completed in 2025
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
$160,934
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
5.65%
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%
$3,218,680
$3.2M
Cap Rate 7%
$2,299,057
$2.3M
Cap Rate 9%
$1,788,156
$1.8M
Market Conditions
NOI Build-Up for 11,038 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
$238.4K $21.60/SF
− Vacancy
−$23.8K −$2.16/SF
EGI
$214.6K $19.44/SF
− OpEx
−$53.6K −$4.86/SF
NOI
$160.9K $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 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%
$3,218,680
Cap Rate 7%
$2,299,057
Cap Rate 9%
$1,788,156
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $160,934 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.74M – $3.66M
NOI $219,596 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 34275, FL
20,570
Population
13,139
Households
1.6
Avg Household Size
63
Median Age
43%
College-Educated
97%
High-School Grad
25.7 sq mi
ZIP Area
800
Density / Sq Mi
$84,503
Median Household Income
$48,094
Median Earnings
$1,459
Median Rent
$435,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three tenants occupy the property under two-year lease terms, supporting current income and near-term flexibility.
Where is this office building located?
The property is located at 2520 Tamiami Trl N Nokomis, FL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Three tenants occupy the property under two‑year lease terms; Seller lease‑back covers a portion of the building; Full interior renovation completed in 2025
