Two-Building Office
For Sale
$5,950,000
5900 and 5902 PAN AMERICAN Boulevard, North Port, FL 34287
Commercial Sale, NORTH PORT, FL
Property Size29,366 SF
Lot Size2.76 Acres
Price / SF$212.11
Days on Market66
Property Features for 5900 and 5902 PAN AMERICAN Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PCD
Directions
US 41 NORTH > CORNER OF TAMIAMI TRAIL AND PAN AMERICAN BLVD
Subdivision
34287 - North Port/Venice
Standard status
Active
APN
0997005065
Size
28,052 SF
Lot size
2.76 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT INTRS OF C/L OF PAN AMERICAN BLVD & N R/W LINE OF TAMIAMI TR, TH SELY ALG CURVE TO RIGHT 40.03 FT FOR POB TH N-13-27-52-E 290.20 FT TO 100 FT CANAL R/W, TH SELY ALG CURVE TO RIGHT 220.85 FT TH S-76-32-08-E 74.20 FT TH SELY ALG CURVE TO RIGHT 219.91 FT TH S-13-27-52-W 150 FT TO NLY R/W OF TAMIAMI TR, TH N-76-32-08-W 214.20 FT TH NWLY ALG CURVE TO LEFT 220.85 FT TO POB, SUBJ TO 19275 C-SF DRAINAGE MAINTENANCE ESMT TO NORTH PORT ROAD & DRAINAGE DISTRICT AS DESC IN ORI 2006173327, CONTAINING 2.7 C-AC M/L
Tax Annual Amount
61429
Legal Description
COM AT INTRS OF C/L OF PAN AMERICAN BLVD & N R/W LINE OF TAMIAMI TR, TH SELY ALG CURVE TO RIGHT 40.03 FT FOR POB TH N-13-27-52-E 290.20 FT TO 100 FT CANAL R/W, TH SELY ALG CURVE TO RIGHT 220.85 FT TH S-76-32-08-E 74.20 FT TH SELY ALG CURVE TO RIGHT 219.91 FT TH S-13-27-52-W 150 FT TO NLY R/W OF TAMIAMI TR, TH N-76-32-08-W 214.20 FT TH NWLY ALG CURVE TO LEFT 220.85 FT TO POB, SUBJ TO 19275 C-SF DRAINAGE MAINTENANCE ESMT TO NORTH PORT ROAD & DRAINAGE DISTRICT AS DESC IN ORI 2006173327, CONTAINING 2.7 C-AC M/L
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
fountain
gazebo
Building Details
Year built
2007
Floors in Building
3
Building materials
Block, Stucco
Roof type
Tile
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 639-1376
Listed By:
Gerald Hayes · License #625093
(941) 456-1155
Added: Jul 20
Changed: Sep 23
Last Checked: Sep 23 at 11:06PM
MLS# C7528564
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property comprises two multi-story buildings with elevator service and block-and-stucco construction. Building 1 was completed in 2007 and offers two stories, 8,076 total square feet, and 7,672 square feet under air. Building 2 was completed in 2008 with three stories, 21,290 total square feet, and 20,380 square feet under air. Both buildings are served by central air conditioning and tile roofing.
The property is positioned at the corner of US 41 and Pan American Boulevard in North Port, with 100 parking spaces and public water and sewer. The grounds include a fountain and gazebo, while PCD zoning supports planned commerce development. The office configuration is suited to executive suites, medical practices, legal offices, educational facilities, and corporate headquarters.
The property is positioned at the corner of US 41 and Pan American Boulevard in North Port, with 100 parking spaces and public water and sewer. The grounds include a fountain and gazebo, while PCD zoning supports planned commerce development. The office configuration is suited to executive suites, medical practices, legal offices, educational facilities, and corporate headquarters.
Key Highlights
- Two office buildings with elevator service and multi‑story layouts
- Building 1: built in 2007; 2 stories; 8,076 total square feet; 7,672 sq ft under air
- Building 2: built in 2008; 3 stories; 21,290 total square feet; 20,380 under air
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
$408,998
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
6.87%
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%
$8,179,960
$8.2M
Cap Rate 7%
$5,842,829
$5.8M
Cap Rate 9%
$4,544,422
$4.5M
Market Conditions
NOI Build-Up for 28,052 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
$605.9K $21.60/SF
− Vacancy
−$60.6K −$2.16/SF
EGI
$545.3K $19.44/SF
− OpEx
−$136.3K −$4.86/SF
NOI
$409.0K $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 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%
$8,179,960
Cap Rate 7%
$5,842,829
Cap Rate 9%
$4,544,422
Alternative Uses
Best Use
Office B
$5.84M
$5.11M – $6.82M
NOI $408,998 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.97M
$6.98M – $9.30M
NOI $558,082 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Explore this area
Business Placement
Demographics for 34287, FL
26,277
Population
15,713
Households
1.7
Avg Household Size
59
Median Age
23%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
1,510
Density / Sq Mi
$64,229
Median Household Income
$39,509
Median Earnings
$1,296
Median Rent
$235,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office complex with elevator service, maintained grounds, public utilities, and PCD zoning.
Where is this office building located?
The property is located at 5900 and 5902 PAN AMERICAN Boulevard North Port, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Two office buildings with elevator service and multi‑story layouts; Building 1: built in 2007; 2 stories; 8,076 total square feet; 7,672 sq ft under air; Building 2: built in 2008; 3 stories; 21,290 total square feet; 20,380 under air
