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 Market229
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
Listed By:
Michael Hollander
(941) 404-9850
Source:
Hembreeco
Added: Mar 6
Changed: Oct 10
Last Checked: Oct 20 at 5:36PM
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
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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 / Yr
$59,049
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,980
$1.2M
Cap Rate 7%
$843,557
$843.6K
Cap Rate 9%
$656,100
$656.1K
Market Conditions
NOI Build-Up for 4,050 SF
Gross rent
$87.5K $21.60/SF
− Vacancy
−$8.7K −$2.16/SF
EGI
$78.7K $19.44/SF
− OpEx
−$19.7K −$4.86/SF
NOI
$59.0K $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%
$1,180,980
Cap Rate 7%
$843,557
Cap Rate 9%
$656,100
Alternative Uses
Best Use
Office B
$843.6K
$738.1K – $984.2K
NOI $59,049 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,573 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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
Frequently Asked Questions
What type of property is this?
Office unit - Three commercial office condominiums for sale in Lakewood Ranch Corporate Park.
Where is this office unit 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.
