Medical Office Space
For Sale
Contact for pricing
Pending
1800 S Tuttle Ave, Sarasota, FL 34239
2,444 SF medical office space for sale or lease.
Property Size2,444 SF
Days on Market696
Property Features for 1800 S Tuttle Ave
General Information
Standard status
Pending
Size
2,444 SF
Class
B
Property subtype
Office
Zoning
OPB
Lease Type
NNN
Building Details
Stories
1
Units
2
Listing Agency:
Ian Black Real Estate LLC
Listed By:
Brie Tulp · License #FL SL3493495
(551) 206-4390
Source:
Crexi
Added: Nov 19, 2024
Changed: Oct 8
Last Checked: Oct 14 at 7:52PM
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 Ian Black Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,444 square foot space is available for sale or lease immediately. The property features a natural separation into two suites. Suite 1800, comprising 1,222 square feet, formerly operated as a physical therapy and cryotherapy office. It includes a large, open reception area, four private treatment rooms, a private office with a restroom, and a kitchen break area. Suite 1810, also 1,222 square feet, was previously a physical therapy office. It offers a large, open reception area, three former private treatment rooms, a kitchen and break room, a private office, and a bathroom. Estimated expenses are $13.66 per square foot.
Key Highlights
- 2,444 SF available for sale or lease ASAP.
- Natural separation into two 1,222 SF suites.
- Suite 1800: Includes reception area, 4 treatment rooms, office with restroom, and kitchen.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,869
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,380
$897.4K
Cap Rate 7%
$640,986
$641.0K
Cap Rate 9%
$498,544
$498.5K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$78.3K $32.04/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$74.8K $30.60/SF
− OpEx
−$29.9K −$12.24/SF
NOI
$44.9K $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 Rate 5%
$897,380
Cap Rate 7%
$640,986
Cap Rate 9%
$498,544
Alternative Uses
Best Use
Healthcare Medical
$641.0K
$560.9K – $747.8K
NOI $44,869 @ 7.0% cap · market cap 5.99%
Second Best
Office B
$509.1K
$445.4K – $593.9K
NOI $35,634 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$694.6K
$607.8K – $810.4K
NOI $48,622 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34239, FL
15,049
Population
8,044
Households
1.9
Avg Household Size
52
Median Age
45%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,420
Density / Sq Mi
$76,378
Median Household Income
$42,017
Median Earnings
$1,522
Median Rent
$418,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Bayshore Animal Clinic — 2145 Hillview St, Sarasota, FL 34239
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,444 SF medical office space for sale or lease.
Where is this medical office space located?
The property is located at 1800 S Tuttle Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,444 SF available for sale or lease ASAP.; Natural separation into two 1,222 SF suites.; Suite 1800: Includes reception area, 4 treatment rooms, office with restroom, and kitchen.
