Two-Unit Flex
For Sale
$899,000
2924 Hyde Park St, Sarasota, FL 34239
CI-zoned commercial property combines customer-facing areas with rear warehouse functionality and overhead loading doors.
Property Size5,760 SF
Lot Size0.46 Acres
Price / SF$156.08
Days on Market238
Property Features for 2924 Hyde Park St
General Information
Standard status
Active
Size
5,760 SF
Class
C
Lot size
0.46 Acres
Property subtype
Other Special Purpose
Zoning
CI
Additional Details
Office Units
2
Building Details
Building Size
5,760 SF
Year Built
1970
Buildings
1
Tenancy
Multi
Properties For Sale
at 2924 Hyde Park St
2924 Hyde Park St
Size
2,880 SF
Lease Type
NNN
Listing Agency:
American Property Group of Sarasota, Inc.
Listed By:
Brian Seidel · License #3123085
(941) 923-0535
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 7
Last Checked: Oct 12 at 4:33PM
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 American Property Group of Sarasota, Inc.
Investment Insights
Based on property information with market context.
This 5,760 SF flex property contains two separate 2,880 SF units, each combining office or retail space with warehouse functionality at the rear. Every unit has two overhead doors, supporting loading, storage, and business operations. The building dates to 1970 and sits on 0.46 acres of CI-zoned land.
One unit is leased with 1 year remaining, while the second is vacant. The available space was most recently used as a dance studio and can accommodate office, showroom, retail, studio, or service-oriented operations, subject to applicable requirements. The property is located at 2924 Hyde Park St in Sarasota, east of S Tuttle Ave and between Bahia Vista St and Webber St, north of Southgate.
One unit is leased with 1 year remaining, while the second is vacant. The available space was most recently used as a dance studio and can accommodate office, showroom, retail, studio, or service-oriented operations, subject to applicable requirements. The property is located at 2924 Hyde Park St in Sarasota, east of S Tuttle Ave and between Bahia Vista St and Webber St, north of Southgate.
Key Highlights
- 5,760 SF building divided into two 2,880 SF units
- 0.46 acres of CI‑zoned land
- Two overhead doors per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,655
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,613,100
$1.6M
Cap Rate 7%
$1,152,214
$1.2M
Cap Rate 9%
$896,167
$896.2K
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$98.8K $17.16/SF
− Vacancy
−$4.0K −$0.69/SF
EGI
$94.9K $16.47/SF
− OpEx
−$14.2K −$2.47/SF
NOI
$80.7K $14.00/SF
Area
Sarasota County, FL
Vacancy
4.00%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,613,100
Cap Rate 7%
$1,152,214
Cap Rate 9%
$896,167
Alternative Uses
Best Use
Retail
$1.29M
$1.12M – $1.50M
NOI $89,994 @ 7.0% cap · market cap 10.01%
Second Best
Office B
$1.20M
$1.05M – $1.40M
NOI $83,981 @ 7.0% cap · market cap 9.34%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,593 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - CI-zoned commercial property combines customer-facing areas with rear warehouse functionality and overhead loading doors.
Where is this flex space located?
The property is located at 2924 Hyde Park St Sarasota, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,760 SF building divided into two 2,880 SF units; 0.46 acres of CI‑zoned land; Two overhead doors per unit
