Sarasota Retail/Office Building For
For Sale
Contact for pricing
Pending
3623 Webber St, Sarasota, FL 34232
2,934 SF retail/office building in the heart of Sarasota.
Property Size2,934 SF
Days on Market1111
Property Features for 3623 Webber St
General Information
Standard status
Pending
Size
2,934 SF
Class
B
Property subtype
Retail
Zoning
CG
Lease Type
Gross
Building Details
Year Built
1982
Buildings
1
Stories
2
Listing Agency:
Harry E Robbins Associate
(941) 724-2321
Listed By:
Kevin Robbins · License #SL3042951
Source:
Crexi
Added: Aug 7, 2023
Changed: Aug 8
Last Checked: Jul 24 at 6:05PM
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 Harry E Robbins Associate
Investment Insights
Based on property information with market context.
Located in the heart of Sarasota, this 2,934 SF retail/office building offers flexibility for an owner to relocate their business and occupy both suites, occupy one suite, or lease out both suites as a cash flow producing asset. The building is comprised of two separate 1,467 SF retail/office units, each with its own storefront entrance. The downstairs unit features a reception area, four private offices, multiple storage closets, a kitchenette, two bathrooms, and a shower. The upstairs unit features an open workspace, four private offices, and two restrooms. The property is ideally located at the Northeast corner of the high traffic intersection of Webber and Beneva, which features a daily traffic count of 30,000 + vehicles. Ample parking is available in the surface parking lot, providing easy access for customers and staff. The surrounding area within a 1-mile radius contains 6,521 households with an average household income of $75,884. The 5-mile radius contains 102,152 households with an average household income of $73,586, and the 10-mile radius contains 182,657 households with an average household income of $77,432.
Key Highlights
- High‑traffic location at the corner of Webber and Beneva with 30,000+ vehicles daily.
- Two separate 1,467 SF retail/office units with individual storefront entrances.
- Flexible use: Owner‑occupy both, occupy one, or lease both for income.
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
$47,911
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
6.85%
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%
$958,220
$958.2K
Cap Rate 7%
$684,443
$684.4K
Cap Rate 9%
$532,344
$532.3K
Market Conditions
NOI Build-Up for 2,934 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
$67.6K $23.04/SF
− Vacancy
−$3.7K −$1.27/SF
EGI
$63.9K $21.77/SF
− OpEx
−$16.0K −$5.44/SF
NOI
$47.9K $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%
$958,220
Cap Rate 7%
$684,443
Cap Rate 9%
$532,344
Alternative Uses
Best Use
Office B
$684.4K
$598.9K – $798.5K
NOI $47,911 @ 7.0% cap · market cap 6.85%
Second Best
Retail
$515.4K
$451.0K – $601.4K
NOI $36,081 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$862.8K
$755.0K – $1.01M
NOI $60,396 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 34232, FL
34,671
Population
17,248
Households
2
Avg Household Size
47
Median Age
34%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
3,152
Density / Sq Mi
$81,041
Median Household Income
$44,166
Median Earnings
$1,836
Median Rent
$332,600
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?
Retail space - 2,934 SF retail/office building in the heart of Sarasota.
Where is this retail space located?
The property is located at 3623 Webber St Sarasota, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: High‑traffic location at the corner of Webber and Beneva with 30,000+ vehicles daily.; Two separate 1,467 SF retail/office units with individual storefront entrances.; Flexible use: Owner‑occupy both, occupy one, or lease both for income.
