Lakewood Ranch Office Condominiums
For Sale
$1,495,000
560 Communications Parkway, Sarasota, FL 34240
Three commercial office condominiums for sale in Lakewood Ranch Corporate Park.
Property Size4,050 SF
Days on Market178
Property Features for 560 Communications Parkway
General Information
Standard status
Active
Size
4,050 SF
Class
B
Property subtype
Office
Building Details
Building Size
4,050 SF
Year Built
2006
Listing Agency:
Hembree & Associates Inc
(941) 404-9850
Listed By:
Michael Hollander
Source:
Hembreeco
Added: Mar 6
Changed: Aug 27
Last Checked: Aug 30 at 2:40PM
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 Hembree & Associates Inc
Investment Insights
Based on property information with market context.
A package of three commercial office condominiums is available for purchase in the Tech Park area of Lakewood Ranch Corporate Park. These units are located in the highly sought after Tech Park area in Lakewood Ranch Corporate Park.
Key Highlights
- Rarely available commercial office condominium package for sale.
- Located in the highly sought‑after Tech Park area.
- Located in Lakewood Ranch Corporate Park.
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
$66,135
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
4.42%
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%
$1,322,700
$1.3M
Cap Rate 7%
$944,786
$944.8K
Cap Rate 9%
$734,833
$734.8K
Market Conditions
NOI Build-Up for 4,050 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
$93.3K $23.04/SF
− Vacancy
−$5.1K −$1.27/SF
EGI
$88.2K $21.77/SF
− OpEx
−$22.0K −$5.44/SF
NOI
$66.1K $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%
$1,322,700
Cap Rate 7%
$944,786
Cap Rate 9%
$734,833
Alternative Uses
Best Use
Office B
$944.8K
$826.7K – $1.10M
NOI $66,135 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,368 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 34240, FL
14,428
Population
7,570
Households
1.9
Avg Household Size
49
Median Age
52%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
217
Density / Sq Mi
$126,048
Median Household Income
$53,284
Median Earnings
$2,306
Median Rent
$622,100
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 units - Three commercial office condominiums for sale in Lakewood Ranch Corporate Park.
Where is this office units located?
The property is located at 560 Communications Parkway Sarasota, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Rarely available commercial office condominium package for sale.; Located in the highly sought‑after Tech Park area.; Located in Lakewood Ranch Corporate Park.
