Fully Leased Office Investment
For Sale
$550,000
72 SARASOTA CENTER BOULEVARD #72, Sarasota, FL 34240
Turnkey office suites near Waterside Lakewood Ranch, fully leased.
Property Size2,102 SF
Lot Size1.01 Acres
Price / SF$261.66
Days on Market426
Property Features for 72 SARASOTA CENTER BOULEVARD #72
General Information
Standard status
Active
Size
2,102 SF
Lot size
1.01 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,570
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
2003
Listing Agency:
ALTIER & COMPANY
(941) 713-1933
Listed By:
ABIGAIL ALTIER
Source:
Corcoran
Added: Jun 20, 2025
Changed: Aug 11
Last Checked: Aug 18 at 5:42AM
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 ALTIER & COMPANY
Investment Insights
Based on property information with market context.
This is an exceptional office investment opportunity located minutes from Waterside Lakewood Ranch. The property features a well-maintained professional office space comprising six fully leased private office suites within a larger executive suite. The property provides immediate and consistent income. Tenants benefit from shared access to a welcoming lobby entry, a conference room, an oversized break room and kitchen, two restrooms, and a spacious common work area. All leases are currently in place and will convey with the sale. The property size is 2102 square feet. This turnkey property is suited for investors seeking reliable rental income in the growing Sarasota market.
Key Highlights
- Fully leased office suites providing immediate and steady rental income.
- Prime location minutes from Waterside Lakewood Ranch in a growing Sarasota market.
- Turnkey investment property with all leases in place and conveying at sale.
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
$34,325
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
6.24%
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%
$686,500
$686.5K
Cap Rate 7%
$490,357
$490.4K
Cap Rate 9%
$381,389
$381.4K
Market Conditions
NOI Build-Up for 2,102 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
$48.4K $23.04/SF
− Vacancy
−$2.7K −$1.27/SF
EGI
$45.8K $21.77/SF
− OpEx
−$11.4K −$5.44/SF
NOI
$34.3K $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%
$686,500
Cap Rate 7%
$490,357
Cap Rate 9%
$381,389
Alternative Uses
Best Use
Office B
$490.4K
$429.1K – $572.1K
NOI $34,325 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$618.1K
$540.9K – $721.2K
NOI $43,269 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 34240, FL
14,428
Population
7,570
Households
1.9
Avg Household Size
49
Median Age
52%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
217
Density / Sq Mi
$126,048
Median Household Income
$53,284
Median Earnings
$2,306
Median Rent
$622,100
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 - Turnkey office suites near Waterside Lakewood Ranch, fully leased.
Where is this office units located?
The property is located at 72 SARASOTA CENTER BOULEVARD #72 Sarasota, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fully leased office suites providing immediate and steady rental income.; Prime location minutes from Waterside Lakewood Ranch in a growing Sarasota market.; Turnkey investment property with all leases in place and conveying at sale.
