Functional Office
For Sale
Contact for pricing
6981 Curtiss Ave, Sarasota, FL 34231
Office condominium with reception, private offices, and two restrooms for professional or medical users.
Property Size1,309 SF
Price / SF$275.02
Days on Market236
Property Features for 6981 Curtiss Ave
General Information
Standard status
Active
Size
1,309 SF
Property subtype
OFFICE
Listing Agency:
American Property Group
(941) 544-2970
Listed By:
Brian Seidel, CCIM · License #3123085
(941) 544-2970
Source:
Moodyscre
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 7:54AM
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
Investment Insights
Based on property information with market context.
This 1,309-square-foot office condominium in Sarasota’s Gulf Gate area provides a practical configuration for professional or medical office operations. The interior includes a reception area, four private offices, and two restrooms, creating a defined arrangement for staff, visitors, and daily business functions.
Located at 6981 Curtiss Ave, the unit is part of a commercial office setting in Sarasota, Florida. Its combination of dedicated offices, visitor reception space, and restroom facilities supports a range of established office uses without relying on an open-plan layout.
Located at 6981 Curtiss Ave, the unit is part of a commercial office setting in Sarasota, Florida. Its combination of dedicated offices, visitor reception space, and restroom facilities supports a range of established office uses without relying on an open-plan layout.
Key Highlights
- 1,309 SF office condominium
- Reception area for visitors and daily operations
- Four private 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
$21,375
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
5.94%
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%
$427,500
$427.5K
Cap Rate 7%
$305,357
$305.4K
Cap Rate 9%
$237,500
$237.5K
Market Conditions
NOI Build-Up for 1,309 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
$30.2K $23.04/SF
− Vacancy
−$1.7K −$1.27/SF
EGI
$28.5K $21.77/SF
− OpEx
−$7.1K −$5.44/SF
NOI
$21.4K $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%
$427,500
Cap Rate 7%
$305,357
Cap Rate 9%
$237,500
Alternative Uses
Best Use
Office B
$305.4K
$267.2K – $356.3K
NOI $21,375 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condominium with reception, private offices, and two restrooms for professional or medical users.
Where is this office units located?
The property is located at 6981 Curtiss Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,309 SF office condominium; Reception area for visitors and daily operations; Four private offices
