Medical Office Building
For Sale
$51,000,000
3844 Bee Ridge Road, Sarasota, FL 34233
Nine medical office buildings in rapidly growing Southwest Florida.
Property Size164,677 SF
Days on Market216
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
Listed By:
Matt Fenske · License #FL #SL3373336
(941) 773-9984
Source:
Suncoastsvn
Added: Mar 6
Changed: Oct 6
Last Checked: Oct 7 at 9:47AM
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 offering comprises a portfolio of nine NNN medical office buildings situated in the rapidly growing Southwest Florida region. The portfolio includes a mix of single-tenant and multi-tenant buildings located throughout Manatee and Sarasota Counties. A significant portion of the portfolio's square footage is occupied by medical offices, with MaxHealth, a Florida-centric medical group, serving as the anchor tenant. The average in-place lease term is 7.2 years, and nearly half of the tenants have been in place for more than five years, indicating tenant longevity and commitment. Purchase options are available for the entire portfolio or individual buildings.
Key Highlights
- Strong anchor tenant MaxHealth occupies two‑thirds of the portfolio square footage.
- Located in rapidly‑growing Southwest Florida.
- NNN Medical Office Building (MOB) portfolio reduces landlord responsibilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,023,292
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$60,465,840
$60.5M
Cap Rate 7%
$43,189,886
$43.2M
Cap Rate 9%
$33,592,133
$33.6M
Market Conditions
NOI Build-Up for 164,677 SF
Gross rent
$5.28M $32.04/SF
− Vacancy
−$237.4K −$1.44/SF
EGI
$5.04M $30.60/SF
− OpEx
−$2.02M −$12.24/SF
NOI
$3.02M $18.36/SF
Area
Sarasota County, FL
Vacancy
4.50%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$60,465,840
Cap Rate 7%
$43,189,886
Cap Rate 9%
$33,592,133
Alternative Uses
Best Use
Healthcare Medical
$43.19M
$37.79M – $50.39M
NOI $3,023,292 @ 7.0% cap · market cap 5.93%
Second Best
Office B
$34.30M
$30.01M – $40.02M
NOI $2,400,991 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$46.80M
$40.95M – $54.60M
NOI $3,276,176 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Nine medical office buildings 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 $51,000,000.
What are key features of this property?
This property features: Strong anchor tenant MaxHealth occupies two‑thirds of the portfolio square footage.; Located in rapidly‑growing Southwest Florida.; NNN Medical Office Building (MOB) portfolio reduces landlord responsibilities.
