Spacious End Unit
For Sale
$259,000
Pending
2621 GOLF COURSE DRIVE 401, Sarasota, FL 34234
Large 3BR/2Bath condo in 55+ Rolling Green Golf Village.
Property Size1,620 SF
Lot Size2.32 Acres
Days on Market566
Property Features for 2621 GOLF COURSE DRIVE 401
General Information
Standard status
Pending
Size
1,620 SF
Lot size
2.32 Acres
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,432
Building Details
Year Built
1972
Listing Agency:
RE/MAX ALLIANCE GROUP
(941) 993-7700
Listed By:
Anne Thomas, PA · License #3139066
(941) 993-7700
Source:
Exitrealty
Added: Jan 23, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:05AM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
This turnkey furnished, one-level condo in Rolling Green Golf Village offers a rare opportunity for 55+ living. Originally the developer's own home, this end unit features 3 bedrooms and 2 bathrooms. The master suite includes a walk-in closet and a private bath with an updated shower and tile flooring. The third bedroom, complete with a closet, can serve as a den. A large living room features a built-in wet bar, complemented by a formal dining room and a light, bright kitchen with a separate sunny breakfast room. The hall bath includes a tub, and there is a large laundry room with storage, along with several storage and linen closets. A huge Florida room with tile flooring and windows overlooks a paver patio and grassy garden area. Newer wood plank tile flooring enhances the interior. The property benefits from a new 2022 AC and duct work, new 2024 interior paint, a new 2023 refrigerator and dishwasher, and a new 2023 roof fully funded by the HOA. Recent exterior paint adds to the appeal. The unit includes one assigned covered carport parking space with a storage cabinet. A security camera system is installed, ideal for snowbirds. The community features a solar-heated community pool, shuffleboard, library, and a clubhouse with a kitchen and activities room for social events. The property is conveniently located near downtown Sarasota, shopping, restaurants, theater, UTC Mall, and Sarasota/Bradenton Airport. The unit has 1620 square feet.
Key Highlights
- Rare, large 3BR/2 Bath end unit in 55+ Rolling Green Golf Village, originally the developer's home.
- Turnkey furnished and tastefully decorated, ready for immediate occupancy.
- Newer upgrades include 2022 AC and duct work, 2024 interior paint, 2023 refrigerator and dishwasher, and 2023 roof (funded by HOA).
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
$19,602
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
7.57%
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%
$392,040
$392.0K
Cap Rate 7%
$280,029
$280.0K
Cap Rate 9%
$217,800
$217.8K
Market Conditions
NOI Build-Up for 1,620 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
$37.7K $23.28/SF
− Vacancy
−$2.1K −$1.28/SF
EGI
$35.6K $22.00/SF
− OpEx
−$16.0K −$9.90/SF
NOI
$19.6K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$392,040
Cap Rate 7%
$280,029
Cap Rate 9%
$217,800
Alternative Uses
Best Use
Apartment 5plus
$280.0K
$245.0K – $326.7K
NOI $19,602 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.4K
$416.8K – $555.8K
NOI $33,347 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Senior Helpers — 5104 N Lockwood Ridge Rd Suite 301, Sarasota, FL 34234
Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Large 3BR/2Bath condo in 55+ Rolling Green Golf Village.
Where is this senior housing / retirement home located?
The property is located at 2621 GOLF COURSE DRIVE 401 Sarasota, FL.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Rare, large 3BR/2 Bath end unit in 55+ Rolling Green Golf Village, originally the developer's home.; Turnkey furnished and tastefully decorated, ready for immediate occupancy.; Newer upgrades include 2022 AC and duct work, 2024 interior paint, 2023 refrigerator and dishwasher, and 2023 roof (funded by HOA).
