Built-Out Medical Office
For Sale
Contact for pricing
5715 21st Ave W, Bradenton, FL 34209
Configured for medical operations with exam, laboratory, administrative, and patient-facing areas in a professional center.
Property Size3,095 SF
Price / SF$355.41
Days on Market59
Property Features for 5715 21st Ave W
General Information
Standard status
Active
Size
3,095 SF
Class
A
Total Parking Spaces
2
Property subtype
Office
Zoning
P
Building Details
Units
4
Listing Agency:
American Property Group of Sarasota Inc
Listed By:
Adam Doak · License #FL 3271713
(941) 923-0535
Source:
Crexi
Added: Jul 29
Changed: Sep 23
Last Checked: Sep 24 at 10:16AM
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 American Property Group of Sarasota Inc
Investment Insights
Based on property information with market context.
This 3,095-square-foot medical office suite is fully built out within Oak Park Medical and Professional Center. The layout includes four exam rooms, a laboratory, multiple private offices, a patient reception and waiting area, a billing office, and a dedicated data and phone room. Six restrooms are provided, including private facilities in three of the four offices. A breakroom with kitchen area completes the interior configuration.
The property is located at 5715 21st Ave W in Bradenton, next to HCA Florida Blake Hospital. The suite includes two covered parking spaces and a private entrance, adding dedicated access for physicians or staff. The property is zoned P.
The property is located at 5715 21st Ave W in Bradenton, next to HCA Florida Blake Hospital. The suite includes two covered parking spaces and a private entrance, adding dedicated access for physicians or staff. The property is zoned P.
Key Highlights
- 3,095 SF medical office suite in Oak Park Medical and Professional Center
- Four exam rooms plus laboratory and multiple private offices
- Six restrooms, including private facilities in three of four offices
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
$50,540
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
4.59%
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%
$1,010,800
$1.0M
Cap Rate 7%
$722,000
$722.0K
Cap Rate 9%
$561,556
$561.6K
Market Conditions
NOI Build-Up for 3,095 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
$71.3K $23.04/SF
− Vacancy
−$3.9K −$1.27/SF
EGI
$67.4K $21.77/SF
− OpEx
−$16.8K −$5.44/SF
NOI
$50.5K $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%
$1,010,800
Cap Rate 7%
$722,000
Cap Rate 9%
$561,556
Alternative Uses
Best Use
Office B
$722.0K
$631.8K – $842.3K
NOI $50,540 @ 7.0% cap · market cap 4.59%
Second Best
Healthcare Medical
$682.6K
$597.3K – $796.4K
NOI $47,782 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$910.1K
$796.4K – $1.06M
NOI $63,710 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34209, FL
32,940
Population
18,896
Households
1.7
Avg Household Size
58
Median Age
36%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
2,614
Density / Sq Mi
$80,829
Median Household Income
$41,649
Median Earnings
$1,847
Median Rent
$357,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for medical operations with exam, laboratory, administrative, and patient-facing areas in a professional center.
Where is this medical office space located?
The property is located at 5715 21st Ave W Bradenton, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,095 SF medical office suite in Oak Park Medical and Professional Center; Four exam rooms plus laboratory and multiple private offices; Six restrooms, including private facilities in three of four offices
