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 Market171
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
Stories
1
Listing Agency:
Re/Max Harbor Realty
(239) 771-0227
Listed By:
Geri Vice · License #3211212
(239) 771-0227
Source:
Elliman
Added: Mar 11
Changed: Aug 27
Last Checked: Aug 26 at 9:43AM
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 = 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
$3,315
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
3.49%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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.
