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    6851 Professional Pkwy Sarasota, FL 34240

    Sponsored
    For Sale
    $9,000,000

    26,774 SF Office, $9M, 100% Occupied

    Property size:
    26,774 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 26,774 square foot, two-story office building in Sarasota, Florida, presents a compelling investment opportunity. Located at 6851 Professional Pkwy W, Sarasota, FL 34240, this single-tenant, traditional office building sits on a 2.3-acre lot and boasts 69 parking spaces. Built in 2005, the property is currently 100% occupied, with the lease expiring January 1, 2026, under a NNN lease structure. The building features a PCD zoning designation and is ideally suited for a variety of uses, including flex space or R&D. Recent upgrades include new ceilings, carpeting, and LED lighting throughout. The property also includes glass door offices with keypad entry, a robust network system, dedicated mechanical and data center rooms with individual HVAC units, and CAT5 wiring. Its strategic location provides easy access to major thoroughfares and is conveniently close to shopping, dining, and the amenities of Lakewood Ranch. The building is capable of supporting high-density floor loading requirements and mission-critical systems and data needs. The asking price is $9,000,000, representing a price per square foot of $336.15. This is a rare opportunity to acquire a high-quality, fully occupied office building in a desirable Sarasota location.

    Property Features for 6851 Professional Pkwy

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    26,774 SF
    Lot Size
    100,188 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    2

    HighLights

    • $9,000,000 asking price for this 26,774 SF office building.
    • Located at 6851 Professional Pkwy W, Sarasota, FL 34240, on a 2.3‑acre lot.
    • Features 69 parking spaces and is 100% occupied, with lease expiration in 01/01/2026.
    • This two‑story, 2005‑built building offers a NNN lease structure in a PCD‑zoned area.
    • The property includes updated features such as new ceilings, carpet, and LED lighting, along with glass door offices and a robust network system.
    • Suitable for mission‑critical uses, with data center rooms and dedicated HVAC units.
    Property Profile Location Intelligence

    Current Use by Public Records

    CACI Software Company LTC Engineering Associates Engineering Consultant CACI Bit Systems Corporate Office

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Wholesale Shop Dental Office Spa & Massage Law Firm Hair Salon Clothing Store Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4357005
    Latitude
    27.3825342

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    FAQs

    What type of property is this?
    Office Property / Space - 26,774 SF Office, $9M, 100% Occupied
    Where is this office property / space located?
    The property is located at 6851 Professional Pkwy Sarasota, FL.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: $9,000,000 asking price for this 26,774 SF office building.; Located at 6851 Professional Pkwy W, Sarasota, FL 34240, on a 2.3-acre lot.; Features 69 parking spaces and is 100% occupied, with lease expiration in 01/01/2026.
    (813) 787-5669
    Request Owner's contact information
    6851 Professional Pkwy Sarasota, FL 34240
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    Sarasota, FL 34240
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6851 Professional Pkwy Sarasota, FL 34240
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