Two-Unit Office
For Sale
$798,000
8245-8249 S VICELA DRIVE N 6 & 7, Sarasota, FL 34240
Refreshed 2008-built office space offers a flexible layout that can be split into two units for owner-occupancy or leasing.
Property Size3,000 SF
Price / SF$266
Days on Market62
Property Features for 8245-8249 S VICELA DRIVE N 6 & 7
General Information
Standard status
Active
Size
3,000 SF
Zoning
PID
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,866
Amenities
Dumpsters, Elevator
Sidewalks
Accessible Entrance, Accessible Approach with Ramp, Accessible Bedroom, Accessible Hallway(s), Accessible Kitchen
Central Air
Central, Electric
Refrigerator
Elevator
Lake, Water
Common
Building Details
Building Size
3,000 SF
Year Built
2008
Year Renovated
2017
Listing Agency:
RE/MAX Alliance Group
(941) 544-3718
Listed By:
Erick Shumway · License #3252868
(941) 544-3718
Source:
Evrealestate
Added: Jun 24
Changed: Aug 24
Last Checked: Aug 24 at 4:13AM
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 Alliance Group
Investment Insights
Based on property information with market context.
This professionally maintained office property was constructed in 2008 and has been recently repainted and refreshed, presenting like new. A floor plan is available for review, and the layout can be configured as two separate units by installing a partition wall between the existing kitchen areas. A complete build out was performed in 2017 by Fred Starling Construction Company, and the interior has remained in excellent condition following the seller’s repaints.
Conveniently located about 2 miles east of I-75, the property provides quick and easy access to the interstate. The office units are situated just behind the convenience store on Fruitville Road, supporting straightforward visitability for staff and clients. The rear units are described as offering scenic lake views.
The configuration and finish make this a practical fit for an owner-user looking to occupy one unit while leasing the other, or for an investor seeking flexibility in how the space is used. With the ability to divide the area into two offices, operators can align occupancy with team needs while maintaining a professional, move-in-ready appearance. The property’s refreshed condition and recent interior repainting further support straightforward transitions for qualified tenants.
Conveniently located about 2 miles east of I-75, the property provides quick and easy access to the interstate. The office units are situated just behind the convenience store on Fruitville Road, supporting straightforward visitability for staff and clients. The rear units are described as offering scenic lake views.
The configuration and finish make this a practical fit for an owner-user looking to occupy one unit while leasing the other, or for an investor seeking flexibility in how the space is used. With the ability to divide the area into two offices, operators can align occupancy with team needs while maintaining a professional, move-in-ready appearance. The property’s refreshed condition and recent interior repainting further support straightforward transitions for qualified tenants.
Key Highlights
- 2008‑built professional office property with 3,000 SF of flexible space
- Layout can be configured as two separate units by adding a partition wall between the existing kitchen areas
- Complete build out completed in 2017 by Fred Starling Construction Company
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
$48,989
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
6.14%
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%
$979,780
$979.8K
Cap Rate 7%
$699,843
$699.8K
Cap Rate 9%
$544,322
$544.3K
Market Conditions
NOI Build-Up for 3,000 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
$69.1K $23.04/SF
− Vacancy
−$3.8K −$1.27/SF
EGI
$65.3K $21.77/SF
− OpEx
−$16.3K −$5.44/SF
NOI
$49.0K $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%
$979,780
Cap Rate 7%
$699,843
Cap Rate 9%
$544,322
Alternative Uses
Best Use
Office B
$699.8K
$612.4K – $816.5K
NOI $48,989 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.2K
$771.9K – $1.03M
NOI $61,754 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
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
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Frequently Asked Questions
What type of property is this?
Office units - Refreshed 2008-built office space offers a flexible layout that can be split into two units for owner-occupancy or leasing.
Where is this office units located?
The property is located at 8245-8249 S VICELA DRIVE N 6 & 7 Sarasota, FL.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: 2008‑built professional office property with 3,000 SF of flexible space; Layout can be configured as two separate units by adding a partition wall between the existing kitchen areas; Complete build out completed in 2017 by Fred Starling Construction Company
