Updated Office Condo Near
New
For Sale
$169,900
353 6TH W, Bradenton, FL 34205
Professional office condominium with reception, three offices, a kitchenette, and proximity to Manatee Avenue.
Property Size900 SF
Days on Market7
Property Features for 353 6TH W
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,672
Building Details
Building Size
900 SF
Year Built
1985
Tenancy
Single
Listing Agency:
Premier Sotheby's International Realty
Listed By:
Ziad Sleit · License #3072887
(941) 928-5493
Source:
Elliman
Added: Sep 19
Last Checked: Sep 24 at 12:33PM
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 Premier Sotheby's International Realty
Investment Insights
Based on property information with market context.
This office condominium offers a practical layout for professional operations, with a large reception area, three private offices, one bathroom, and a small kitchenette. The space has updated flooring, soft-color finishes, and a new A/C system noted as 02/26. The office is currently occupied by a medically related tenant and is located within an established office complex built in 1985.
The property is one block from Manatee Avenue and near the courthouse, with nearby professional businesses, retail shops, and restaurants. On-site parking is available, and the location records a walk score of 64, a bike score of 46, and a transit score of 35. The office configuration may suit legal, mortgage, insurance, therapy, medical, and other professional uses.
The property is one block from Manatee Avenue and near the courthouse, with nearby professional businesses, retail shops, and restaurants. On-site parking is available, and the location records a walk score of 64, a bike score of 46, and a transit score of 35. The office configuration may suit legal, mortgage, insurance, therapy, medical, and other professional uses.
Key Highlights
- Office condominium with large reception area, three offices, one bathroom, and kitchenette
- Updated flooring and soft‑color interior finishes
- New A/C noted as 02/26
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
$14,697
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
8.65%
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%
$293,940
$293.9K
Cap Rate 7%
$209,957
$210.0K
Cap Rate 9%
$163,300
$163.3K
Market Conditions
NOI Build-Up for 900 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
$20.7K $23.04/SF
− Vacancy
−$1.1K −$1.27/SF
EGI
$19.6K $21.77/SF
− OpEx
−$4.9K −$5.44/SF
NOI
$14.7K $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%
$293,940
Cap Rate 7%
$209,957
Cap Rate 9%
$163,300
Alternative Uses
Best Use
Office B
$210.0K
$183.7K – $245.0K
NOI $14,697 @ 7.0% cap · market cap 8.65%
Second Best
Healthcare Medical
$198.5K
$173.7K – $231.6K
NOI $13,895 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$264.7K
$231.6K – $308.8K
NOI $18,526 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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 - Professional office condominium with reception, three offices, a kitchenette, and proximity to Manatee Avenue.
Where is this office units located?
The property is located at 353 6TH W Bradenton, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Office condominium with large reception area, three offices, one bathroom, and kitchenette; Updated flooring and soft‑color interior finishes; New A/C noted as 02/26
