Furnished Hotel-Condo in Waterfront
For Sale
$95,000
7150 N TAMIAMI S-600, Sarasota, FL 34243
Renovated 1-bedroom hotel-condo with resort amenities and no rental restrictions.
Property Size274 SF
Days on Market216
Property Features for 7150 N TAMIAMI S-600
General Information
Standard status
Active
Size
274 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$271
Building Details
Building Size
274 SF
Year Built
1959
Listing Agency:
Re/Max Harbor Realty
Listed By:
Geri Vice · License #3211212
(239) 771-0227
Source:
Elliman
Added: Mar 11
Changed: Sep 26
Last Checked: Oct 11 at 6:37AM
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 Harbor Realty
Investment Insights
Based on property information with market context.
This fully furnished, renovated 1-bedroom, 1-bath hotel-condo is located in the Sarasota Cay Club within the Ramada by Wyndham Sarasota Waterfront Resort. It is suitable for short-term or long-term rentals, with no minimum rental restrictions. The unit includes all utilities in the HOA fee: electric, cable, internet, water, sewer, phone, pest control, and exterior maintenance. Situated on the second floor, the unit features 2 queen beds, a 70" TV, desk, microwave, coffee maker, and an updated bathroom with a walk-in shower and stone-topped vanity. Stylish flooring and fresh finishes are present throughout. The resort provides a waterfront heated pool, on-site Tarpon Bay Grill & Tiki Bar, breakfast café, boat and kayak rentals, fitness center, game room, business lounge, corn hole, and walking paths along the bay. Optional housekeeping, laundry, and EV charging stations are available. The property is located minutes from Sarasota-Bradenton International Airport, downtown Sarasota, and beaches including Lido Key, Siesta Key, and Longboat Key. Nearby attractions include the Ringling Museum, Van Wezel Performing Arts Hall, St. Armands Circle, and IMG Academy. This unit is an opportunity to own in Sarasota’s short-term rental market.
Key Highlights
- Turnkey, fully furnished hotel‑condo with no rental restrictions, ideal for short‑term or long‑term rentals.
- All utilities included in HOA fee (electric, cable, internet, water, sewer, phone, pest control, exterior maintenance).
- Located within the Ramada by Wyndham Sarasota Waterfront Resort, offering a waterfront heated pool, on‑site restaurant and tiki bar, and other resort amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,315
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$66,300
$66.3K
Cap Rate 7%
$47,357
$47.4K
Cap Rate 9%
$36,833
$36.8K
Market Conditions
NOI Build-Up for 274 SF
Gross rent
$6.4K $23.28/SF
− Vacancy
−$351 −$1.28/SF
EGI
$6.0K $22.00/SF
− OpEx
−$2.7K −$9.90/SF
NOI
$3.3K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$66,300
Cap Rate 7%
$47,357
Cap Rate 9%
$36,833
Alternative Uses
Best Use
Apartment 5plus
$47.4K
$41.4K – $55.3K
NOI $3,315 @ 7.0% cap · market cap 3.49%
Second Best
Hotel Hospitality
$15.1K
$13.2K – $17.6K
NOI $1,054 @ 7.0% cap · market cap 1.11%
Theoretical Best
Office A
$80.6K
$70.5K – $94.0K
NOI $5,640 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Hotel - Renovated 1-bedroom hotel-condo with resort amenities and no rental restrictions.
Where is this hotel located?
The property is located at 7150 N TAMIAMI S-600 Sarasota, FL.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: Turnkey, fully furnished hotel‑condo with no rental restrictions, ideal for short‑term or long‑term rentals.; All utilities included in HOA fee (electric, cable, internet, water, sewer, phone, pest control, exterior maintenance).; Located within the Ramada by Wyndham Sarasota Waterfront Resort, offering a waterfront heated pool, on‑site restaurant and tiki bar, and other resort amenities.
