Office Units with Two-Unit
For Sale
Under Contract
$798,000
8245-8249 S VICELA Drive N, Sarasota, FL 34240
SINGLE_FAMILY - SARASOTA, FL
Property Size3,000 SF
Lot Size1.30 Acres
Price / SF$266
Days on Market55
Property Features for 8245-8249 S VICELA Drive N
General Information
Property type
Residential
Property subtype
Office
Zoning
PID
Accessibility
Accessible Approach with Ramp
Appliances
Refrigerator
Subdivision
PALEO 8
Lot features
Cul-De-Sac, Industrial Condo, Industrial Park, Paved
View
Lake
Directions
I-75 to Fruitville Rd Exit 210 go East approximately 2 miles to Vicela Dr, turn left North & follow to last building on your left. Units 6 & 7 are on the 1st floor Eastern corner of the building.
Standard status
Active Under Contract
APN
02190410006
Size
3,000 SF
Lot size
1.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Units 6 & 7, Paleo 8, Sarasota County
Tax Annual Amount
7866
Legal Description
Units 6 & 7, Paleo 8, Sarasota County
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Block, Stucco
Roof type
Concrete, Tile
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Erick Shumway · License #3252868
(941) 544-3718
Added: Jun 24
Changed: Aug 13
Last Checked: Aug 17 at 3:06AM
MLS# A4697948
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained office units at 8245-8249 S Vicela Drive N, Sarasota, FL 34240, constructed in 2008 and refreshed with recent interior repainting. The property totals 3,000 square feet and is configured with two existing kitchen areas, allowing the space to be separated into two units by installing a partition wall. The layout supports an owner-user approach with the option to occupy one unit and lease the second.
The rear units offer scenic lake views. The complex is located just behind the convenience store on Fruitville Road and is about 2 miles east of I-75, providing convenient interstate access. A complete build out was completed in 2017 by Fred Starling Construction Company, and the improvements remain in like-new condition.
Building materials include block and stucco, with a tile and concrete roof. Interior finishes include hardwood flooring. Heating is electric with central systems, and cooling is provided via central air. The property offers an accessible approach with a ramp, public water, and public sewer.
The rear units offer scenic lake views. The complex is located just behind the convenience store on Fruitville Road and is about 2 miles east of I-75, providing convenient interstate access. A complete build out was completed in 2017 by Fred Starling Construction Company, and the improvements remain in like-new condition.
Building materials include block and stucco, with a tile and concrete roof. Interior finishes include hardwood flooring. Heating is electric with central systems, and cooling is provided via central air. The property offers an accessible approach with a ramp, public water, and public sewer.
Key Highlights
- 3,000 SF office units with 1.3‑acre lot
- Constructed in 2008 with recently repainted interiors
- Create two separate units by installing a partition wall between kitchen areas
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
Yes
Paved road 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 - 2008-built office units on a 1.3-acre site with accessible ramp approach and the flexibility to create two units.
Where is this office units located?
The property is located at 8245-8249 S VICELA Drive N 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: 3,000 SF office units with 1.3‑acre lot; Constructed in 2008 with recently repainted interiors; Create two separate units by installing a partition wall between kitchen areas
