Medical Sale-Leaseback
For Sale
Contact for pricing
2616 BEE RIDGE RD, Sarasota, FL 34239
Portfolio of three medical properties leased under new five-year NNN terms with two renewal options and 2% annual escalations.
Property Size1,783 SF
Price / SF$375.77
Days on Market53
Property Features for 2616 BEE RIDGE RD
General Information
Standard status
Active
Size
1,783 SF
Property subtype
Mixed Use
Occupancy
100%
Lease Type
NNN
Net Operating Income
$49,384
Additional Details
Cap Rate
7.39%
Building Details
Year Built
1962
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Wisdom Capital Group
Listed By:
Brady Wisdom · License #SL3588056
Source:
Crexi
Added: Jul 8
Changed: Aug 16
Last Checked: Aug 29 at 12:59AM
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 Wisdom Capital Group
Investment Insights
Based on property information with market context.
The HandWorks Sale-Leaseback Portfolio consists of three medical properties leased to an established healthcare practice under brand-new five-year triple net (NNN) lease agreements. At closing, the tenant will execute the new NNN leases for all three properties, with two additional five-year renewal options and 2% annual rent escalations. The structure is intended to provide investors with passive income and zero landlord responsibilities during the lease term.
The portfolio generates approximately $133,000 in annual net operating income and is offered at $1,800,000, representing a 7.39% capitalization rate. Ownership will consider offers for the portfolio in its entirety or through individual property acquisitions. The tenant has an established operating history and intends to continue operating from these locations while ultimately pursuing a sale of the practice in the future, creating the potential for occupancy to extend beyond the initial five-year lease term. Properties are located at 2616 Bee Ridge Rd, Sarasota, FL.
The portfolio generates approximately $133,000 in annual net operating income and is offered at $1,800,000, representing a 7.39% capitalization rate. Ownership will consider offers for the portfolio in its entirety or through individual property acquisitions. The tenant has an established operating history and intends to continue operating from these locations while ultimately pursuing a sale of the practice in the future, creating the potential for occupancy to extend beyond the initial five-year lease term. Properties are located at 2616 Bee Ridge Rd, Sarasota, FL.
Key Highlights
- Three medical properties in a sale‑leaseback portfolio with new five‑year triple net (NNN) leases at closing
- Each lease includes two five‑year renewal options
- 2% annual rent escalations built into the leases for contractual income growth
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
$27,527
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
4.11%
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%
$550,540
$550.5K
Cap Rate 7%
$393,243
$393.2K
Cap Rate 9%
$305,856
$305.9K
Market Conditions
NOI Build-Up for 1,783 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
$48.1K $27.00/SF
− Vacancy
−$2.3K −$1.27/SF
EGI
$45.9K $25.73/SF
− OpEx
−$18.4K −$10.29/SF
NOI
$27.5K $15.44/SF
Area
Manatee County, FL
Vacancy
4.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$550,540
Cap Rate 7%
$393,243
Cap Rate 9%
$305,856
Alternative Uses
Best Use
Healthcare Medical
$393.2K
$344.1K – $458.8K
NOI $27,527 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$524.3K
$458.8K – $611.7K
NOI $36,703 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Portfolio of three medical properties leased under new five-year NNN terms with two renewal options and 2% annual escalations.
Where is this medical center located?
The property is located at 2616 BEE RIDGE RD Sarasota, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Three medical properties in a sale‑leaseback portfolio with new five‑year triple net (NNN) leases at closing; Each lease includes two five‑year renewal options; 2% annual rent escalations built into the leases for contractual income growth
