Two-Story Multi-Unit Office
For Sale
Contact for pricing
Pending
8482-8490 South Tamiami Trail, Sarasota, FL 34238
Five-unit, two-story office building with on-site parking and signage exposure along S Tamiami Trail in Sarasota.
Property Size10,632 SF
Days on Market125
Property Features for 8482-8490 South Tamiami Trail
General Information
Standard status
Pending
Size
10,632 SF
Property subtype
Mixed Use
Zoning
CG
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Renovated
2022
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
American Property Group of Sarasota Inc
Listed By:
Tyler Sluman · License #FL SL3487138
Source:
Crexi
Added: May 6
Changed: Aug 10
Last Checked: Aug 9 at 2:46PM
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 American Property Group of Sarasota Inc
Investment Insights
Based on property information with market context.
8482-8490 S Tamiami Trail is a 10,632 SF, two-story commercial building with multiple office units and a total of five units. The property offers on-site parking and signage exposure, creating leasing flexibility for office tenants and owner-users.
The building is located in Sarasota, FL, along Tamiami Trail and is described as being surrounded by established businesses, residential communities, and steady year-round traffic. Nearby, the redevelopment of Sarasota Square Mall is transforming the site into a 96-acre, open-air mixed-use project by Torburn Partners, featuring approximately 1,200 luxury residential units, 530,000 square feet of retail and restaurants (including Whole Foods), and significant outdoor community spaces.
Overall, the property’s multi-unit configuration and roadside visibility support a range of office uses for tenants seeking space on an active commercial corridor.
The building is located in Sarasota, FL, along Tamiami Trail and is described as being surrounded by established businesses, residential communities, and steady year-round traffic. Nearby, the redevelopment of Sarasota Square Mall is transforming the site into a 96-acre, open-air mixed-use project by Torburn Partners, featuring approximately 1,200 luxury residential units, 530,000 square feet of retail and restaurants (including Whole Foods), and significant outdoor community spaces.
Overall, the property’s multi-unit configuration and roadside visibility support a range of office uses for tenants seeking space on an active commercial corridor.
Key Highlights
- 10,632 SF two‑story, five‑unit office building on S Tamiami Trail (8482‑8490) in Sarasota, FL 34231
- Owner‑user flexibility with multiple units plus on‑site parking
- On‑site signage exposure along S Tamiami Trail
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
$173,616
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
5.99%
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%
$3,472,320
$3.5M
Cap Rate 7%
$2,480,229
$2.5M
Cap Rate 9%
$1,929,067
$1.9M
Market Conditions
NOI Build-Up for 10,632 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
$245.0K $23.04/SF
− Vacancy
−$13.5K −$1.27/SF
EGI
$231.5K $21.77/SF
− OpEx
−$57.9K −$5.44/SF
NOI
$173.6K $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%
$3,472,320
Cap Rate 7%
$2,480,229
Cap Rate 9%
$1,929,067
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.89M
NOI $173,616 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $218,858 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 34238, FL
22,050
Population
14,301
Households
1.5
Avg Household Size
64
Median Age
54%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
1,670
Density / Sq Mi
$94,583
Median Household Income
$52,322
Median Earnings
$1,828
Median Rent
$532,800
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 - Five-unit, two-story office building with on-site parking and signage exposure along S Tamiami Trail in Sarasota.
Where is this office units located?
The property is located at 8482-8490 South Tamiami Trail Sarasota, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 10,632 SF two‑story, five‑unit office building on S Tamiami Trail (8482‑8490) in Sarasota, FL 34231; Owner‑user flexibility with multiple units plus on‑site parking; On‑site signage exposure along S Tamiami Trail
