Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3402 MAGIC OAK LANE 3402 Sarasota, FL 34232

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $770,000

    Two fully leased office condo suites in Oakwood Office Park.

    Type:Commercial/Industrial
    Property size:
    1,250 SF
    Added:
    Mar 12, 2026
    Days on Market:
    21
    Last Refresh:
    Mar 25 at 11:31 pm

    Property Features for 3402 MAGIC OAK LANE 3402

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Rex Glasson
    Rex Glasson

    Listing agent Rex Glasson License #3067512

    Listing office DOUGLAS ELLIMAN

    Listing date Mar 12, 2026

    Source Exitrealty

    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 DOUGLAS ELLIMAN

    Overview

    Leased Office Suites in Sarasota

    Two fully leased office condominium suites are available in Oakwood Office Park, each spanning 1,250 square feet. The suites feature a reception area, five private offices, a copy area/breakroom, a restroom, and a shared kitchenette. Expansive windows provide natural light. The property consists of single-story office buildings within a professional campus environment, offering ample parking. Located off Fruitville Road, the property is 1.5 miles from I-75 and 3.5 miles from downtown Sarasota.
    Location Intelligence

    Current Use by Public Records

    Christian L. Romero, ... Physician Crest Engineering of Sarasota Civil Engineer Szilvia Legradi Marriage Or Relationship Counselor Christine F. Svenson, ... Physician Kauffman Susan K Counselor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.474
    Latitude
    27.3386

    Nearby Similar for Sale

    • $974,000
      3,562 SF

      Sarasota Flex Space Opportunity

      Flex space with office/warehouse, mezzanine, and convenient location.
      4430 MCASHTON STREET, SARASOTA, FL 34233
      View Details
    • $974,000
      3,562 SF

      Sarasota Flex Space Opportunity

      Flex space with office/warehouse, mezzanine, and convenient location.
      4430 MCASHTON STREET, SARASOTA, FL 34233
      View Details
    • $399,000
      1,200 SF

      Sarasota Office Investment Opportunity

      Leased office space near Siesta Key and US 41.
      2477 STICKNEY POINT ROAD, SARASOTA, FL 34231
      View Details
    • $449,000
      1,350 SF

      Commercial Condo on Bee Ridge

      1,350 SF office/retail condo with excellent visibility and parking.
      4509 BEE RIDGE ROAD, SARASOTA, FL 34233
      View Details
    • $5,900,000
      12,626 SF

      Downtown Sarasota Mixed-Use Redevelopment Opportunity

      Large downtown parcel with redevelopment potential and rare on-site parking.
      1565 STATE STREET, SARASOTA, FL 34236
      View Details
    • $450,000
      9,882 SF

      Profitable Coastal Rental Business Opportunity

      Turnkey coastal rental business with immediate cash flow and growth potential.
      2239 15TH STREET, SARASOTA, FL 34237
      View Details
    • $355,000
      1,274 SF

      Medical Office Condo Investment

      Leased medical office condo near Sarasota Memorial Hospital.
      2650 BAHIA VISTA STREET, SARASOTA, FL 34239
      View Details
    • $480,000
      2,250 SF

      Industrial Condo with Full Air Conditioning

      2,250 sq ft corner unit with office and warehouse.
      6612 26TH COURT E, SARASOTA, FL 34243
      View Details
    • $475,000
      2,250 SF

      Updated Flex Space Commercial Building

      Updated flex space with office and warehouse functionality.
      6640 26TH COURT E, SARASOTA, FL 34243
      View Details
    • $4,500,000
      20,018 SF

      Sarasota Office Building on U.S. 41

      Two-story office building with high visibility on Tamiami Trail.
      2426 S TAMIAMI TRAIL, SARASOTA, FL 34239
      View Details
    • $8,500,000
      13,762 SF

      Historic Sarasota Multifamily Investment Opportunity

      Unique historic multifamily and retail property in Sarasota's Burns Square.
      530 S ORANGE AVENUE, SARASOTA, FL 34236
      View Details
    • $1,745,000
      2,780 SF

      Siesta Key Condo with Income

      Luxury condo with rental potential near Siesta Key Beach.
      1021 CRESCENT STREET, SARASOTA, FL 34242
      View Details

    FAQs

    What type of property is this?
    Office units - Two fully leased office condo suites in Oakwood Office Park.
    Where is this office units located?
    The property is located at 3402 MAGIC OAK LANE 3402 Sarasota, FL.
    What is the asking price?
    The asking price for this property is $770,000.
    What are key features of this property?
    This property features: Fully Leased: Immediate income generation.; Prime Location: Convenient access to Fruitville Road, I‑75 (1.5 miles), and downtown Sarasota (3.5 miles).; Two Condo Suites: Totaling 2,500 sq ft of office space.
    (941) 867-6199
    We can help!
    Listing Contact
    Rex Glasson
    Rex Glasson
    Real Estate License ID: 3067512
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!