Second-Floor Office
New
For Sale
$250,000
2831 Ringling Blvd #214E, Sarasota, FL 34237
CN-zoned office condominium with private offices, balconies, kitchenette, restroom, and elevator access.
Property Size635 SF
Price / SF$393.70
Days on Market7
Property Features for 2831 Ringling Blvd #214E
General Information
Standard status
Active
Size
635 SF
Class
B
Elevators
Yes
Property subtype
Office - General Office
Zoning
CN
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
2
Amenities
mature landscaping
attractive architecture
private covered balconies
kitchenette
Building Details
Building Size
635 SF
Year Built
1981
Listing Agency:
Loyd Robbins & Co
(941) 957-9300
Listed By:
Loyd Robbins · License #3577625
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 31 at 1:45PM
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 Loyd Robbins & Co
Investment Insights
Based on property information with market context.
This 635 SF second-floor office condominium at Ringling Professional Center includes a reception and work area, three private offices, a private restroom, and a kitchenette. Large windows bring natural light into the suite, while 2 private covered balconies add outdoor spaces for occupants. The building provides elevator service, and the center includes mature landscaping, attractive architecture, and ample parking.
Positioned along Ringling Boulevard near Fruitville Road, the property is close to Downtown Sarasota, Sarasota Memorial Hospital, the Sarasota County Courthouse, Tuttle Avenue, US-41, and Interstate 75. The surrounding area includes professional offices, medical providers, government services, restaurants, retail centers, and residential neighborhoods. Access is available from Ringling Boulevard or Fruitville Road. CN zoning supports professional office use, and the 1981 building serves businesses seeking a central Sarasota office location.
Positioned along Ringling Boulevard near Fruitville Road, the property is close to Downtown Sarasota, Sarasota Memorial Hospital, the Sarasota County Courthouse, Tuttle Avenue, US-41, and Interstate 75. The surrounding area includes professional offices, medical providers, government services, restaurants, retail centers, and residential neighborhoods. Access is available from Ringling Boulevard or Fruitville Road. CN zoning supports professional office use, and the 1981 building serves businesses seeking a central Sarasota office location.
Key Highlights
- 635 SF second‑floor office condominium
- Reception/work area plus three private offices
- 2 private covered balconies and large windows
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
$10,369
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
4.15%
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%
$207,380
$207.4K
Cap Rate 7%
$148,129
$148.1K
Cap Rate 9%
$115,211
$115.2K
Market Conditions
NOI Build-Up for 635 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
$14.6K $23.04/SF
− Vacancy
−$805 −$1.27/SF
EGI
$13.8K $21.77/SF
− OpEx
−$3.5K −$5.44/SF
NOI
$10.4K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /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%
$207,380
Cap Rate 7%
$148,129
Cap Rate 9%
$115,211
Alternative Uses
Best Use
Office B
$148.1K
$129.6K – $172.8K
NOI $10,369 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$186.7K
$163.4K – $217.9K
NOI $13,071 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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
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 units - CN-zoned office condominium with private offices, balconies, kitchenette, restroom, and elevator access.
Where is this office units located?
The property is located at 2831 Ringling Blvd #214E Sarasota, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 635 SF second‑floor office condominium; Reception/work area plus three private offices; 2 private covered balconies and large windows
