Urban Infill Commercial
For Sale
$24,500,000
801 N Orange Avenue, Sarasota, FL 34236
Downtown Edge-zoned land within Sarasota’s Rosemary District, positioned for urban residential or mixed-use planning.
Property Size61,339 SF
Price / SF$399.42
Days on Market45
Property Features for 801 N Orange Avenue
General Information
Standard status
Active
Size
61,339 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
MSC Commercial
Listed By:
Lee DeLieto, Jr.
(941) 323-0060
Source:
Msccommercial
Added: Aug 9
Changed: Sep 21
Last Checked: Sep 21 at 7:41AM
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 MSC Commercial
Investment Insights
Based on property information with market context.
This approximately five-acre commercial land holding is currently improved as the Sarasota Military Academy campus. The contiguous site is zoned Downtown Edge (DTE) and falls within the Rosemary Residential Overlay District, which provides a density bonus mechanism for qualifying attainable housing components. The property is also positioned for consideration under Florida’s Live Local Act, subject to applicable requirements and approvals.
Located at 801 North Orange Avenue, the site is bounded by North Orange Avenue and sits a few blocks from downtown Sarasota’s cultural core and the Sarasota Bay waterfront. Conceptual sketch plans have been prepared for both a code-compliant scenario and a Live Local Act scenario, illustrating potential development configurations. The source information identifies multifamily and mixed-use redevelopment as potential planning directions, with the existing campus improvements providing the current site context.
Located at 801 North Orange Avenue, the site is bounded by North Orange Avenue and sits a few blocks from downtown Sarasota’s cultural core and the Sarasota Bay waterfront. Conceptual sketch plans have been prepared for both a code-compliant scenario and a Live Local Act scenario, illustrating potential development configurations. The source information identifies multifamily and mixed-use redevelopment as potential planning directions, with the existing campus improvements providing the current site context.
Key Highlights
- Approximately +/- five acres of contiguous commercial land
- Downtown Edge (DTE) zoning in the City of Sarasota
- Located within the Rosemary Residential Overlay District (RROD)
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
$1,075,349
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
4.39%
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%
$21,506,980
$21.5M
Cap Rate 7%
$15,362,129
$15.4M
Cap Rate 9%
$11,948,322
$11.9M
Market Conditions
NOI Build-Up for 61,339 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
$1.84M $30.00/SF
− Vacancy
−$119.6K −$1.95/SF
EGI
$1.72M $28.05/SF
− OpEx
−$645.2K −$10.52/SF
NOI
$1.08M $17.53/SF
Area
Manatee County, FL
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$21,506,980
Cap Rate 7%
$15,362,129
Cap Rate 9%
$11,948,322
Alternative Uses
Best Use
Mixed Use
$15.36M
$13.44M – $17.92M
NOI $1,075,349 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$10.60M
$9.28M – $12.37M
NOI $742,188 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$18.04M
$15.78M – $21.04M
NOI $1,262,651 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Commercial land - Downtown Edge-zoned land within Sarasota’s Rosemary District, positioned for urban residential or mixed-use planning.
Where is this commercial land located?
The property is located at 801 N Orange Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $24,500,000.
What are key features of this property?
This property features: Approximately +/- five acres of contiguous commercial land; Downtown Edge (DTE) zoning in the City of Sarasota; Located within the Rosemary Residential Overlay District (RROD)
