Office Condominium
For Sale
$525,000
3976 Destination Drive Suite 204, Osprey, FL 34229
The condominium format allows for either owner occupancy or use by a tenant.
Property Size1,313 SF
Price / SF$399.85
Days on Market16
Property Features for 3976 Destination Drive Suite 204
General Information
Standard status
Active
Size
1,313 SF
Property subtype
Commercial
Building Details
Year Built
2008
Listing Agency:
MSC Commercial
Listed By:
Eric Massey · License #604760
(941) 809-6351
Source:
Msccommercial
Added: Sep 27
Changed: Oct 11
Last Checked: Oct 11 at 9:43AM
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 MSC Commercial
Investment Insights
Based on property information with market context.
This office condominium is located at 3976 Destination Drive, Suite 204, in Osprey, Florida. The building was constructed in 2008. The suite is offered for sale and can accommodate either an owner-user or tenant occupancy.
Key Highlights
- Office condominium at 3976 Destination Drive, Suite 204, Osprey, FL 34229
- Building completed in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,144
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,880
$382.9K
Cap Rate 7%
$273,486
$273.5K
Cap Rate 9%
$212,711
$212.7K
Market Conditions
NOI Build-Up for 1,313 SF
Gross rent
$28.4K $21.60/SF
− Vacancy
−$2.8K −$2.16/SF
EGI
$25.5K $19.44/SF
− OpEx
−$6.4K −$4.86/SF
NOI
$19.1K $14.58/SF
Area
Sarasota County, FL
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,880
Cap Rate 7%
$273,486
Cap Rate 9%
$212,711
Alternative Uses
Best Use
Office B
$273.5K
$239.3K – $319.1K
NOI $19,144 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.2K
$326.5K – $435.4K
NOI $26,122 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 34229, FL
7,780
Population
4,662
Households
1.7
Avg Household Size
63
Median Age
58%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
1,297
Density / Sq Mi
$93,949
Median Household Income
$56,047
Median Earnings
$2,008
Median Rent
$635,800
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 - The condominium format allows for either owner occupancy or use by a tenant.
Where is this office units located?
The property is located at 3976 Destination Drive Suite 204 Osprey, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Office condominium at 3976 Destination Drive, Suite 204, Osprey, FL 34229; Building completed in 2008
