Ground-Floor Office Condo
For Sale
Contact for pricing
Pending
2831 RINGLING BLVD D-115, Sarasota, FL 34237
Ground-floor office condo with storefront entry, reception area, private offices, kitchenette, and restroom for client-facing operations.
Property Size821 SF
Days on Market68
Property Features for 2831 RINGLING BLVD D-115
General Information
Standard status
Pending
Size
821 SF
Class
B
Property subtype
Office
Zoning
CN - COMMERCIAL, NEIGHBORHOOD
Building Details
Year Built
1981
Year Renovated
2021
Listing Agency:
Harry E. Robbins Associates, Inc
(941) 356-1613
Listed By:
Troy Robbins · License #FL 3169642
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Jul 24 at 2:22PM
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 Harry E. Robbins Associates, Inc
Investment Insights
Based on property information with market context.
This ground-floor office condo for sale offers a storefront entrance that opens into a reception or waiting area. The space includes four private offices, each with natural light provided by windows, creating a more comfortable work environment throughout the suite. Additional interior improvements include a kitchenette and one restroom, supporting day-to-day use for teams that receive clients on site.
The property is positioned as a condo suite within a commercial office setting, with a dedicated street-level storefront-style entry for walk-in or client arrival convenience. The layout is straightforward for professional uses that require a visible front entry and separate consultation or work rooms.
For buyers or tenants seeking a compact, client-ready office environment, the combination of reception space, multiple private offices, and in-suite kitchenette and restroom can help streamline operations without relying on shared amenities. The presence of windows in each office can also be beneficial for maintaining a bright, organized feel for staff and meetings.
The property is positioned as a condo suite within a commercial office setting, with a dedicated street-level storefront-style entry for walk-in or client arrival convenience. The layout is straightforward for professional uses that require a visible front entry and separate consultation or work rooms.
For buyers or tenants seeking a compact, client-ready office environment, the combination of reception space, multiple private offices, and in-suite kitchenette and restroom can help streamline operations without relying on shared amenities. The presence of windows in each office can also be beneficial for maintaining a bright, organized feel for staff and meetings.
Key Highlights
- Ground‑floor office condo for sale
- 821 SF unit with a storefront entrance into a reception/waiting area
- Includes 4 private offices with natural light from 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
$13,407
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
4.81%
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%
$268,140
$268.1K
Cap Rate 7%
$191,529
$191.5K
Cap Rate 9%
$148,967
$149.0K
Market Conditions
NOI Build-Up for 821 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
$18.9K $23.04/SF
− Vacancy
−$1.0K −$1.27/SF
EGI
$17.9K $21.77/SF
− OpEx
−$4.5K −$5.44/SF
NOI
$13.4K $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%
$268,140
Cap Rate 7%
$191,529
Cap Rate 9%
$148,967
Alternative Uses
Best Use
Office B
$191.5K
$167.6K – $223.5K
NOI $13,407 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.4K
$211.3K – $281.7K
NOI $16,900 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Ground-floor office condo with storefront entry, reception area, private offices, kitchenette, and restroom for client-facing operations.
Where is this office units located?
The property is located at 2831 RINGLING BLVD D-115 Sarasota, FL.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Ground‑floor office condo for sale; 821 SF unit with a storefront entrance into a reception/waiting area; Includes 4 private offices with natural light from windows
