Renovated Medical Office
For Sale
$2,100,000
3003 S Tamiami Trl, Sarasota, FL 34239
Two adjacent buildings along U.S. 41 offer office layouts, parking, and access near Sarasota Memorial Hospital.
Property Size3,926 SF
Days on Market193
Property Features for 3003 S Tamiami Trl
General Information
Standard status
Active
Size
3,926 SF
Class
B
Property subtype
Multi Tenant Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,926 SF
Year Built
1949
Year Renovated
2025
Buildings
2
Listing Agency:
SVN | Commercial Advisory Group
(941) 223-1525
Listed By:
Gail Bowden · License #3044621
(941) 223-1525
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 8:10PM
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 SVN | Commercial Advisory Group
Investment Insights
Based on property information with market context.
This medical office portfolio includes two adjacent buildings at 2020 Rose Street and 3003 S. Tamiami Trail in Sarasota. Both properties were renovated in 2025 with updated systems, contemporary finishes, and layouts suited to medical, professional, or general office operations. The portfolio includes the building at 3003 S Tamiami Trl, Sarasota, FL 34239, which was originally built in 1949.
The properties occupy a visible position along U.S. 41, also known as Tamiami Trail, with convenient access and parking at both sites. Sarasota Memorial Hospital is within ½ mile, while downtown Sarasota is only minutes away. The assets are situated in Sarasota’s Medical and Professional Corridor, near affluent residential communities and an established medical tenant base.
The properties occupy a visible position along U.S. 41, also known as Tamiami Trail, with convenient access and parking at both sites. Sarasota Memorial Hospital is within ½ mile, while downtown Sarasota is only minutes away. The assets are situated in Sarasota’s Medical and Professional Corridor, near affluent residential communities and an established medical tenant base.
Key Highlights
- Two‑property medical office portfolio at 2020 Rose Street and 3003 S. Tamiami Trail
- Both buildings renovated in 2025 with updated systems, finishes, and office layouts
- Suitable for medical, professional, or general office use
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
$64,110
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
3.05%
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%
$1,282,200
$1.3M
Cap Rate 7%
$915,857
$915.9K
Cap Rate 9%
$712,333
$712.3K
Market Conditions
NOI Build-Up for 3,926 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
$90.5K $23.04/SF
− Vacancy
−$5.0K −$1.27/SF
EGI
$85.5K $21.77/SF
− OpEx
−$21.4K −$5.44/SF
NOI
$64.1K $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%
$1,282,200
Cap Rate 7%
$915,857
Cap Rate 9%
$712,333
Alternative Uses
Best Use
Office B
$915.9K
$801.4K – $1.07M
NOI $64,110 @ 7.0% cap · market cap 3.05%
Second Best
Healthcare Medical
$865.9K
$757.7K – $1.01M
NOI $60,612 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,816 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,702
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bay Road Animal Hospital — 1712 Bay Rd, Sarasota, FL 34239
- Animal Health Center — 2345 Bee Ridge Rd STE 3, Sarasota, FL 34239
- Petco Vaccination Clinic — 3800 s tamiami trail ste 20, sarasota, fl 34239
- Vetco Total Care — 3800 S Tamiami Trail Ste 20, Sarasota, FL 34239
- Sarasota Tamiami Animal Hospital - Vetco Total Care — 3800 S Tamiami Trail #20, Sarasota, FL 34239
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two adjacent buildings along U.S. 41 offer office layouts, parking, and access near Sarasota Memorial Hospital.
Where is this medical office space located?
The property is located at 3003 S Tamiami Trl Sarasota, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two‑property medical office portfolio at 2020 Rose Street and 3003 S. Tamiami Trail; Both buildings renovated in 2025 with updated systems, finishes, and office layouts; Suitable for medical, professional, or general office use
