Sarasota Studio Condo with Gulf
For Sale
$110,000
7150 N TAMIAMI Trl S521, Sarasota, FL 34243
Updated studio condo with no rental restrictions and gulf access.
Property Size348 SF
Days on Market109
Property Features for 7150 N TAMIAMI Trl S521
General Information
Standard status
Active
Size
348 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,767
Building Details
Building Size
348 SF
Year Built
1959
Stories
1
Listing Agency:
(727) 639-2121
Listed By:
Angie Clark · License #SL3061005
(727) 639-2121
Source:
Elliman
Added: Apr 27
Changed: Aug 7
Last Checked: Aug 13 at 6:47AM
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 Angie Clark
Investment Insights
Based on property information with market context.
This studio condo in Sarasota, Florida, offers direct access to the Gulf waters and has no rental restrictions. The updated unit includes a full bathroom, microwave, cooktop, and mini fridge. Owners can rent it out through Airbnb, VRBO, or the onsite program. The condos surround a marina with gulf access, allowing residents to step onto the dock and access boats or kayaks. The Ramada Hotel's resort lifestyle includes amenities such as a waterfront restaurant/tiki bar (Tarpon Bay Grill and Tiki Bar), a heated waterfront pool, beach volleyball, a fitness room, roaming security, community laundry, and other common areas. The monthly condo/HOA fees cover all utilities. The property is centrally located near Sarasota Airport, downtown Sarasota, beaches, St. Armands Circle, IMG Academy, Anna Maria, and Siesta Key Islands. The bike score is 40, indicating it is somewhat bikeable, and the walk score is 24, suggesting car dependence.
Key Highlights
- No Rental Restrictions: Ideal for Airbnb, VRBO, or onsite program rentals.
- Direct Gulf Access: Waterfront community with marina access for boating and water activities.
- All Utilities Included: Monthly condo/HOA fees cover all utilities, simplifying budgeting.
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
$4,211
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
3.83%
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%
$84,220
$84.2K
Cap Rate 7%
$60,157
$60.2K
Cap Rate 9%
$46,789
$46.8K
Market Conditions
NOI Build-Up for 348 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
$8.1K $23.28/SF
− Vacancy
−$446 −$1.28/SF
EGI
$7.7K $22.00/SF
− OpEx
−$3.4K −$9.90/SF
NOI
$4.2K $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%
$84,220
Cap Rate 7%
$60,157
Cap Rate 9%
$46,789
Alternative Uses
Best Use
Apartment 5plus
$60.2K
$52.6K – $70.2K
NOI $4,211 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$102.3K
$89.6K – $119.4K
NOI $7,164 @ 7.0% cap · market cap 6.51%
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?
Short term rental property - Updated studio condo with no rental restrictions and gulf access.
Where is this short term rental property located?
The property is located at 7150 N TAMIAMI Trl S521 Sarasota, FL.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: No Rental Restrictions: Ideal for Airbnb, VRBO, or onsite program rentals.; Direct Gulf Access: Waterfront community with marina access for boating and water activities.; All Utilities Included: Monthly condo/HOA fees cover all utilities, simplifying budgeting.
