Medical Office Condo with Exam
New
For Sale
Contact for pricing
842 Sunset Lake Boulevard, Venice, FL 34292
Second-floor medical suite beside the elevator with updated finishes and a patient-focused layout.
Property Size5,253 SF
Price / SF$247.29
Days on Market6
Property Features for 842 Sunset Lake Boulevard
General Information
Standard status
Active
Size
5,253 SF
Elevators
Yes
Property subtype
Office
Additional Details
Floor
Second Floor
Building Details
Year Built
2002
Units
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
SVN | Commercial Advisory Group Sarasota
Listed By:
Matt Fenske · License #FL SL3373336
(941) 773-9984
Source:
Crexi
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 2 at 1:00PM
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 SVN | Commercial Advisory Group Sarasota
Investment Insights
Based on property information with market context.
This second-floor medical office condominium is positioned beside the elevator within Lakeside Medical Center. The suite includes a reception area, waiting room, patient refreshment counter, 14 exam rooms, conference room, kitchen, laboratory, storage, multiple bathrooms, and a centrally located nurses station. New flooring and interior paint provide updated finishes throughout. The existing tenant is expected to vacate at closing.
Built in 2002, the medical center occupies a lakefront setting in Venice with mature trees, a covered patient drop-off area, and ample parking serving staff and visitors. The property is located at 842 Sunset Lake Boulevard, Venice, Florida 34292.
Built in 2002, the medical center occupies a lakefront setting in Venice with mature trees, a covered patient drop-off area, and ample parking serving staff and visitors. The property is located at 842 Sunset Lake Boulevard, Venice, Florida 34292.
Key Highlights
- 5,243 +/- SF medical office condo
- 14 exam rooms plus conference room, kitchen, lab, storage, and multiple bathrooms
- Second‑floor location adjacent to the elevator
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
$96,439
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
7.42%
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%
$1,928,780
$1.9M
Cap Rate 7%
$1,377,700
$1.4M
Cap Rate 9%
$1,071,544
$1.1M
Market Conditions
NOI Build-Up for 5,253 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
$168.3K $32.04/SF
− Vacancy
−$7.6K −$1.44/SF
EGI
$160.7K $30.60/SF
− OpEx
−$64.3K −$12.24/SF
NOI
$96.4K $18.36/SF
Area
Sarasota County, FL
Vacancy
4.50%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
40.00%
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%
$1,928,780
Cap Rate 7%
$1,377,700
Cap Rate 9%
$1,071,544
Alternative Uses
Best Use
Healthcare Medical
$1.38M
$1.21M – $1.61M
NOI $96,439 @ 7.0% cap · market cap 7.42%
Second Best
Office B
$1.09M
$957.4K – $1.28M
NOI $76,589 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,506 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34292, FL
17,141
Population
10,559
Households
1.6
Avg Household Size
68
Median Age
43%
College-Educated
96%
High-School Grad
32.5 sq mi
ZIP Area
527
Density / Sq Mi
$80,274
Median Household Income
$41,719
Median Earnings
$1,924
Median Rent
$417,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- American Society-Veterinary — 620 Shamrock Blvd, Venice, FL 34293
- Garner Veterinary Services — 725 Shamrock Blvd, Venice, FL 34293
- Garner Veterinary Services- Dr. Kelley Garner (JACARANDA ANIMAL HOSPITAL) — 725 Shamrock Blvd, Venice, FL 34293
- Berkowitz Gary DVM — 1168 Jacaranda Blvd, Venice, FL 34292
- Veterinary Associates Of Jacaranda — 1168 Jacaranda Blvd, Venice, FL 34292
Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor medical suite beside the elevator with updated finishes and a patient-focused layout.
Where is this medical office space located?
The property is located at 842 Sunset Lake Boulevard Venice, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 5,243 +/- SF medical office condo; 14 exam rooms plus conference room, kitchen, lab, storage, and multiple bathrooms; Second‑floor location adjacent to the elevator
