Multi-Building Office
For Sale
$900,000
37220 GLENWOOD Avenue, Myakka City, FL 34251
Commercial Sale, MYAKKA CITY, FL
Property Size3,338 SF
Lot Size2.40 Acres
Price / SF$269.62
Days on Market257
Property Features for 37220 GLENWOOD Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
VIL
Accessibility
Accessible Approach with Ramp
Subdivision
MYAKKA CITY
Directions
From I-75 and State Road 70, drive East on State Road 70 approximately 2o miles tom Myakka City, just 300 feet east of the caution light in Myakka, and on the east side of the gas station. North Side of SR 70. Turn on Lebanon and then immediately on the right after the metal buiilding.
Standard status
Active
APN
192000107
Size
3,338 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 9, 10, 11, 12 & 13 BLK 90 MYAKKA CITY REC IN PB 3 P 12 (1473/2853) PI#1920.0010/7 Also, 3 Additional Legal Descrip. See files.
Tax Annual Amount
6900
Legal Description
LOTS 9, 10, 11, 12 & 13 BLK 90 MYAKKA CITY REC IN PB 3 P 12 (1473/2853) PI#1920.0010/7 Also, 3 Additional Legal Descrip. See files.
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Year built
2000
Floors in Building
1
Flooring type
Laminate, Linoleum, Tile - Ceramic
Building materials
Block, Metal Frame, Stucco, Vinyl Siding
Roof type
Metal
Additional Structures
Outbuilding
Listing Agency:
EXIT KING REALTY · EXIT Realty
(941) 497-6060
Listed By:
Christina Dakin · License #0636561
(941) 737-5058
Added: Dec 15, 2025
Changed: Aug 25
Last Checked: Aug 29 at 8:06PM
MLS# A4675359
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property comprises three buildings totaling 3,338 square feet on 2.4 acres. The primary building includes a reception area, open workspace, conference room, private office, two separate addresses, and two bathrooms. A second building contains three examination rooms, a business office, and two bathrooms, while the third building provides storage space with metal-sided construction.
The property is visible from State Road 70 and includes four parcels, two wells, electricity available, and a septic tank. Construction materials include block, metal frame, stucco, and vinyl siding. Interior finishes include ceramic tile, laminate, and linoleum. Built in 2000, the property has electric heating, central air, a metal roof, and an accessible approach with ramp. VIL zoning is identified for the site.
The property is visible from State Road 70 and includes four parcels, two wells, electricity available, and a septic tank. Construction materials include block, metal frame, stucco, and vinyl siding. Interior finishes include ceramic tile, laminate, and linoleum. Built in 2000, the property has electric heating, central air, a metal roof, and an accessible approach with ramp. VIL zoning is identified for the site.
Key Highlights
- 3,338‑square‑foot office property on 2.4 acres
- Three buildings with office, examination, and storage areas
- Primary building has two separate addresses and two bathrooms
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
$54,508
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
6.06%
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%
$1,090,160
$1.1M
Cap Rate 7%
$778,686
$778.7K
Cap Rate 9%
$605,644
$605.6K
Market Conditions
NOI Build-Up for 3,338 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
$76.9K $23.04/SF
− Vacancy
−$4.2K −$1.27/SF
EGI
$72.7K $21.77/SF
− OpEx
−$18.2K −$5.44/SF
NOI
$54.5K $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%
$1,090,160
Cap Rate 7%
$778,686
Cap Rate 9%
$605,644
Alternative Uses
Best Use
Office B
$778.7K
$681.4K – $908.5K
NOI $54,508 @ 7.0% cap · market cap 6.06%
Second Best
Healthcare Medical
$736.2K
$644.2K – $858.9K
NOI $51,534 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$981.6K
$858.9K – $1.15M
NOI $68,712 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 34251, FL
7,061
Population
2,323
Households
3
Avg Household Size
42
Median Age
20%
College-Educated
93%
High-School Grad
299.0 sq mi
ZIP Area
24
Density / Sq Mi
$86,487
Median Household Income
$47,314
Median Earnings
$1,194
Median Rent
$506,300
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.
Frequently Asked Questions
What type of property is this?
Office building - Three-building office property with separate office, medical, and storage areas across a flexible commercial layout.
Where is this office building located?
The property is located at 37220 GLENWOOD Avenue Myakka City, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 3,338‑square‑foot office property on 2.4 acres; Three buildings with office, examination, and storage areas; Primary building has two separate addresses and two bathrooms
