Move-In Ready Osprey Office
For Sale
$1,099,000
3976 DESTINATION DRIVE #A411, Osprey, FL 34229
Fully furnished office space in Baystreet Village, Osprey.
Property Size2,314 SF
Price / SF$474.94
Days on Market453
Property Features for 3976 DESTINATION DRIVE #A411
General Information
Standard status
Active
Size
2,314 SF
Taxes and HOA fees
Annual Taxes
$5,440
Building Details
Year Built
2008
Listing Agency:
PREMIER PROPERTIES OF SRQ LLC
Listed By:
JOHN YILMAZ
Source:
Corcoran
Added: Jun 3, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 PROPERTIES OF SRQ LLC
Investment Insights
Based on property information with market context.
Located in Osprey, this office space at 3976 Destination Drive, Unit A-411, is situated within Baystreet Village, a commercial area featuring a mix of retail and office spaces. The location provides access to The Oaks, Casey Key, and Pineview School. This office space features modern finishes and furnishings. The layout is designed for efficiency. The property size is 2314 square feet. This move-in ready office space is suitable for businesses looking to expand or start fresh. The location offers connections to Sarasota and surrounding areas.
Key Highlights
- Move‑in ready: Newly built‑out and fully furnished office space.
- Prime location in Baystreet Village, Osprey's sought‑after commercial enclave.
- Proximity to The Oaks, Casey Key, and Pineview School.
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
$33,738
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
3.07%
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%
$674,760
$674.8K
Cap Rate 7%
$481,971
$482.0K
Cap Rate 9%
$374,867
$374.9K
Market Conditions
NOI Build-Up for 2,314 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
$50.0K $21.60/SF
− Vacancy
−$5.0K −$2.16/SF
EGI
$45.0K $19.44/SF
− OpEx
−$11.2K −$4.86/SF
NOI
$33.7K $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 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%
$674,760
Cap Rate 7%
$481,971
Cap Rate 9%
$374,867
Alternative Uses
Best Use
Office B
$482.0K
$421.7K – $562.3K
NOI $33,738 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$657.7K
$575.5K – $767.3K
NOI $46,036 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Fully furnished office space in Baystreet Village, Osprey.
Where is this office units located?
The property is located at 3976 DESTINATION DRIVE #A411 Osprey, FL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Move‑in ready: Newly built‑out and fully furnished office space.; Prime location in Baystreet Village, Osprey's sought‑after commercial enclave.; Proximity to The Oaks, Casey Key, and Pineview School.
