Medical Office Building
For Sale
Contact for pricing
3844 Bee Ridge Road, Sarasota, FL 34233
Nine-building medical office portfolio in rapidly growing Southwest Florida.
Property Size164,677 SF
Price / SF$364.35
Days on Market269
Property Features for 3844 Bee Ridge Road
General Information
Standard status
Active
Size
164,677 SF
Property subtype
Office
Building Details
Building Size
164,677 SF
Listing Agency:
SVN COMMERCIAL ADVISORY GROUP
(941) 773-9984
Listed By:
Matt Fenske · License #FL #SL3373336
(941) 773-9984
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 7
Last Checked: Aug 17 at 4:16AM
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 portfolio features nine buildings totaling 164,677 square feet, strategically located along Florida’s Gulf Coast, spanning from Ellenton in North Manatee County through Bradenton and Sarasota, down to Venice and North Port in South Sarasota County. The portfolio consists of eight office/medical office buildings and one retail-style building. Anchored by MaxHealth, a physician-owned primary healthcare business with over 50 locations across Florida, the properties benefit from prominent road frontage along major highways and thoroughfares throughout the North Port–Sarasota–Bradenton MSA, ensuring strong visibility, ease of access, and close proximity to area hospitals and medical centers. Five buildings are larger multi-tenant buildings with MaxHealth as the primary anchor, and four are single-tenant MaxHealth buildings. The portfolio can be purchased as a whole, or buildings may be purchased individually, with the exception of the two Cortez Road buildings that are both located on the same deeded parcel. The anchor tenant, MaxHealth, is a strong Florida-centric medical group, with two thirds of the overall portfolio square footage built out as medical offices. The average in-place term is 7.2 years, with just under half of tenants having been in place for 5+ years. The region has experienced substantial growth and development, with tens of thousands of new residential units either completed or currently under construction, driving demand for high-quality medical services and facilities. The area’s aging population has led to a marked increase in demand for healthcare services, with approximately 49.2% of the area’s residents over the age of 55.
Key Highlights
- Anchored by MaxHealth, a strong physician‑owned primary healthcare business with over 50 locations, providing a stable tenant base.
- Located in rapidly growing Southwest Florida, an area experiencing substantial residential growth and an aging population driving demand for healthcare services.
- Portfolio of 9 buildings (eight office/medical office and one retail‑style) strategically positioned along Florida’s Gulf Coast.
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
$2,689,110
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
4.48%
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%
$53,782,200
$53.8M
Cap Rate 7%
$38,415,857
$38.4M
Cap Rate 9%
$29,879,000
$29.9M
Market Conditions
NOI Build-Up for 164,677 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
$3.79M $23.04/SF
− Vacancy
−$208.7K −$1.27/SF
EGI
$3.59M $21.77/SF
− OpEx
−$896.4K −$5.44/SF
NOI
$2.69M $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%
$53,782,200
Cap Rate 7%
$38,415,857
Cap Rate 9%
$29,879,000
Alternative Uses
Best Use
Office B
$38.42M
$33.61M – $44.82M
NOI $2,689,110 @ 7.0% cap · market cap 4.48%
Second Best
Healthcare Medical
$36.32M
$31.78M – $42.37M
NOI $2,542,382 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$48.43M
$42.37M – $56.50M
NOI $3,389,843 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34233, FL
18,723
Population
9,427
Households
2
Avg Household Size
52
Median Age
41%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
3,069
Density / Sq Mi
$77,041
Median Household Income
$44,222
Median Earnings
$1,787
Median Rent
$364,300
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?
Medical Office Space - Nine-building medical office portfolio in rapidly growing Southwest Florida.
Where is this medical office space located?
The property is located at 3844 Bee Ridge Road Sarasota, FL.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Anchored by **MaxHealth**, a strong physician‑owned primary healthcare business with over 50 locations, providing a stable tenant base.; Located in rapidly growing Southwest Florida, an area experiencing substantial residential growth and an aging population driving demand for healthcare services.; Portfolio of 9 buildings (eight office/medical office and one retail‑style) strategically positioned along Florida’s Gulf Coast.
