Freestanding Office
New
For Sale
$3,950,000
8660 S Tamiami Tr., Sarasota, FL 34238
Single-story commercial property with contiguous space, CG zoning, and direct US 41 frontage.
Property Size14,200 SF
Lot Size1.27 Acres
Price / SF$278.17
Days on Market4
Property Features for 8660 S Tamiami Tr.
General Information
Standard status
Active
Size
14,200 SF
Class
B
Total Parking Spaces
50
Lot size
1.27 Acres
Property subtype
Office
Zoning
CG
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
14,200 SF
Year Built
1972
Year Renovated
2002
Buildings
1
Stories
1
Construction
masonry
Tenancy
Single
Parking Ratio
3.52 per 1,000 SF
Owner Occupied
Yes
Listing Agency:
Michael Saunders & Company
(941) 809-6351
Listed By:
Eric Massey · License #604760
Source:
Tcnworldwide
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 2:58PM
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 Michael Saunders & Company
Investment Insights
Based on property information with market context.
This freestanding masonry office building provides approximately 14,200 square feet of contiguous, single-story space on 1.27 acres. Built in 1972 and renovated in 2002, the property was owner-occupied during its recent hold period and is scheduled for vacant delivery at closing in Q1/Q2 2027. The layout can be divided for multi-tenant occupancy, while the CG-zoned site supports office, medical, retail, and service uses. A 0.26 FAR and 50 surface parking spaces, calculated at 3.52 spaces per 1,000 square feet, are part of the property.
The building has direct frontage on US 41 and monument signage exposure. It is located less than one mile from the Sarasota Square Trade Center Redevelopment, which is planned as an approximately 100-acre mixed-use town center with Whole Foods, Costco, Trader Joe’s, approximately 530,000 square feet of retail, dining, and office space, and 1,200 residential units.
The building has direct frontage on US 41 and monument signage exposure. It is located less than one mile from the Sarasota Square Trade Center Redevelopment, which is planned as an approximately 100-acre mixed-use town center with Whole Foods, Costco, Trader Joe’s, approximately 530,000 square feet of retail, dining, and office space, and 1,200 residential units.
Key Highlights
- Approximately 14,200 SF of contiguous single‑story office space
- 1.27‑acre site with CG zoning and 0.26 FAR
- Vacant delivery at closing scheduled for Q1/Q2 2027
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
$231,880
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
5.87%
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%
$4,637,600
$4.6M
Cap Rate 7%
$3,312,571
$3.3M
Cap Rate 9%
$2,576,444
$2.6M
Market Conditions
NOI Build-Up for 14,200 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
$327.2K $23.04/SF
− Vacancy
−$18.0K −$1.27/SF
EGI
$309.2K $21.77/SF
− OpEx
−$77.3K −$5.44/SF
NOI
$231.9K $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%
$4,637,600
Cap Rate 7%
$3,312,571
Cap Rate 9%
$2,576,444
Alternative Uses
Best Use
Office B
$3.31M
$2.90M – $3.86M
NOI $231,880 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.18M
$3.65M – $4.87M
NOI $292,304 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
716
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 building - Single-story commercial property with contiguous space, CG zoning, and direct US 41 frontage.
Where is this office building located?
The property is located at 8660 S Tamiami Tr. Sarasota, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Approximately 14,200 SF of contiguous single‑story office space; 1.27‑acre site with CG zoning and 0.26 FAR; Vacant delivery at closing scheduled for Q1/Q2 2027
