Mediterranean Office Center with
For Sale
$5,950,000
5900 PAN AMERICAN BOULEVARD, North Port, FL 34287
Two multi-story office buildings with elevator access, on 2.7 acres with 100 parking spaces.
Property Size29,366 SF
Lot Size2.70 Acres
Price / SF$202.62
Days on Market56
Property Features for 5900 PAN AMERICAN BOULEVARD
General Information
Standard status
Active
Size
29,366 SF
Total Parking Spaces
100
Lot size
2.70 Acres
Property subtype
Office
Zoning
PCD
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
elevator
fountain
gazebo
2.76 acres
Tile
Public Sewer
Additional parcels description:, Parcel Number: 0997005065, Public Survey Range: 21E, Public Survey Section: 31, Annual Amount: $61,429, Tax Book Number: 2-23, 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, Lot: 31, Year: 2025, Zoning: PCD
Central Air
Listing ID: MFRC7528564, Standard Status: Active, MLS Status: Active, Property Subtype: Office, On market as of 2026-07-20, 6 days on market, Special Conditions: None
Over 30 Spaces
Built in 2007, Living area: 28052, Living area units: Square Feet, 2 stories, Levels: Three Or More, Construction Materials: Block, Stucco
MLS Area (Major): 34287 - North Port/Venice, County/Parish: Sarasota
Public, Water Source: Public
Slab
Frontage Type: Access Road, City Street, Highway, Interstate, Turn Lanes, Road Responsibility: Public Maintained Road, Road Surface: Asphalt, Paved
Building Details
Year Built
2007
Construction
Mediterranean style
Listing Agency:
RE/MAX ALLIANCE GROUP
(941) 639-1376
Listed By:
Gerald Hayes · License #625093
(941) 456-1155
Source:
Miharaandassociates
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 12 at 6:48AM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
Pan American Professional Center features two multi-story Mediterranean-style office buildings with elevator service. Building #1 was built in 2007 and includes 2 stories. Building #2 was built in 2008 and includes 3 stories. The property also offers landscaped grounds with a fountain and gazebo.
The complex is located on a corner with frontage on US 41 and Pan American Blvd, and the remarks cite high traffic count and strong visibility. The property is zoned PCD (Planned Commerce Development).
With 100 parking spaces across the 2.7-acre site, the center is positioned for a range of professional uses such as executive suites, medical and offices, attorney offices, educational facilities, and corporate headquarters.
The complex is located on a corner with frontage on US 41 and Pan American Blvd, and the remarks cite high traffic count and strong visibility. The property is zoned PCD (Planned Commerce Development).
With 100 parking spaces across the 2.7-acre site, the center is positioned for a range of professional uses such as executive suites, medical and offices, attorney offices, educational facilities, and corporate headquarters.
Key Highlights
- Two multi‑story office buildings with elevator access on 2.7 acres.
- Building #1: 2007 build, 2 stories, 8,076 total SF with 7,672 SF under air.
- Building #2: 2008 build, 3 stories, 21,290 total SF with 20,380 SF 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
$428,156
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
7.20%
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%
$8,563,120
$8.6M
Cap Rate 7%
$6,116,514
$6.1M
Cap Rate 9%
$4,757,289
$4.8M
Market Conditions
NOI Build-Up for 29,366 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
$634.3K $21.60/SF
− Vacancy
−$63.4K −$2.16/SF
EGI
$570.9K $19.44/SF
− OpEx
−$142.7K −$4.86/SF
NOI
$428.2K $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%
$8,563,120
Cap Rate 7%
$6,116,514
Cap Rate 9%
$4,757,289
Alternative Uses
Best Use
Office B
$6.12M
$5.35M – $7.14M
NOI $428,156 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.35M
$7.30M – $9.74M
NOI $584,224 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
656
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
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Frequently Asked Questions
What type of property is this?
Office building - Two multi-story office buildings with elevator access, on 2.7 acres with 100 parking spaces.
Where is this office building located?
The property is located at 5900 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 multi‑story office buildings with elevator access on 2.7 acres.; Building #1: 2007 build, 2 stories, 8,076 total SF with 7,672 SF under air.; Building #2: 2008 build, 3 stories, 21,290 total SF with 20,380 SF under air.
