For-Sale Office
New
For Sale
$2,500,000
423 North Lemon Avenue, Sarasota, FL 34236
Office building offered for sale at 423 North Lemon Avenue in Sarasota, Florida.
Days on Market6
Property Features for 423 North Lemon Avenue
General Information
Standard status
Active
Property subtype
Office
Building Details
Building Size
4,483 SF
Year Built
1946
Listing Agency:
MSC Commercial
(941) 809-6351
Listed By:
Eric Barnes · License #604760
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 27 at 2:16AM
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 MSC Commercial
Investment Insights
Based on property information with market context.
This property is being offered for sale as an office building, with a commercial real estate focus on office use. The listing information reflects a ForSale transaction for an office asset.
The property is located at 423 North Lemon Avenue in Sarasota, Florida (34236). The available details do not specify building configuration, size, amenities, or unit mix.
Additional property characteristics such as interior layout, condition, parking, and any tenant occupancy are not provided in the supplied information, so prospective buyers should request a full offering package for verification.
The property is located at 423 North Lemon Avenue in Sarasota, Florida (34236). The available details do not specify building configuration, size, amenities, or unit mix.
Additional property characteristics such as interior layout, condition, parking, and any tenant occupancy are not provided in the supplied information, so prospective buyers should request a full offering package for verification.
Key Highlights
- Office building for sale at 423 North Lemon Avenue in Sarasota, Florida
- Built in 1946
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.3k | $23.04 |
| − Vacancy | −$5.7k | −$1.27 |
| EGI | $97.6k | $21.77 |
| − OpEx | −$24.4k | −$5.44 |
| NOI | $73.2k | $16.33 |
4,483 SF · lease $23.04/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.05M
$915.1K – $1.22M
NOI $73,206 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,282 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
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 building - Office building offered for sale at 423 North Lemon Avenue in Sarasota, Florida.
Where is this office building located?
The property is located at 423 North Lemon Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Office building for sale at 423 North Lemon Avenue in Sarasota, Florida; Built in 1946
