Office Suite with Conference
For Sale
$425,000
2831 RINGLING BLVD 204, Sarasota, FL 34237
A reception area and flexible layout support as many as seven offices on the second floor.
Property Size1,384 SF
Days on Market16
Property Features for 2831 RINGLING BLVD 204
General Information
Standard status
Active
Size
1,384 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$4,284
Building Details
Building Size
1,384 SF
Year Built
1981
Units
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
RE/MAX Alliance Group
Listed By:
Erick Shumway · License #3252868
(941) 544-3718
Source:
Elliman
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 20 at 7:08PM
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
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Investment Insights
Based on property information with market context.
Office Unit 204 is on the second floor of Building B and faces north. Its layout includes a reception area, a conference room, and capacity for up to seven offices. An elevator serves the second-floor occupants. The building dates to 1981.
The office is on Ringling Boulevard in Sarasota, with Tuttle Avenue and Fruitville Road also identified in the property information. Its Walk Score is 55, Bike Score is 53, and Transit Score is 30.
The office is on Ringling Boulevard in Sarasota, with Tuttle Avenue and Fruitville Road also identified in the property information. Its Walk Score is 55, Bike Score is 53, and Transit Score is 30.
Key Highlights
- Second‑floor Unit 204 in Building B, with a north‑facing orientation
- Layout accommodates up to 7 offices, plus a conference room and reception area
- Elevator serves second‑floor occupants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,179
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,580
$403.6K
Cap Rate 7%
$288,271
$288.3K
Cap Rate 9%
$224,211
$224.2K
Market Conditions
NOI Build-Up for 1,384 SF
Gross rent
$29.9K $21.60/SF
− Vacancy
−$3.0K −$2.16/SF
EGI
$26.9K $19.44/SF
− OpEx
−$6.7K −$4.86/SF
NOI
$20.2K $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 Rate 5%
$403,580
Cap Rate 7%
$288,271
Cap Rate 9%
$224,211
Alternative Uses
Best Use
Office B
$288.3K
$252.2K – $336.3K
NOI $20,179 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$393.3K
$344.2K – $458.9K
NOI $27,534 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,215
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A reception area and flexible layout support as many as seven offices on the second floor.
Where is this office unit located?
The property is located at 2831 RINGLING BLVD 204 Sarasota, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Second‑floor Unit 204 in Building B, with a north‑facing orientation; Layout accommodates up to 7 offices, plus a conference room and reception area; Elevator serves second‑floor occupants
