Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    3623 Webber St Sarasota, FL 34232

    Sponsored
    For Sale
    $699,000

    Prime Sarasota Retail, Vacant, 2934 SF

    Property size:
    2,934 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This freestanding, two-story, 2,934 square foot shopping center is located in Sarasota, Florida, at the high-traffic intersection of Webber and Beneva Streets, boasting over 30,000 vehicles daily. Built in 1982, this Class B property features two 1,467 square foot units, each with its own storefront entrance. The ground floor unit includes a reception area, four private offices, multiple storage closets, a kitchenette, two bathrooms, and a shower. The upper unit offers an open workspace, four private offices, and two restrooms. The property sits on a 3,086 square foot lot and is zoned CG. Ample surface parking ensures convenient access. The asking price is $699,000, translating to $238.24 per square foot. This vacant property presents an excellent opportunity for owner-occupancy or lease-out for strong cash flow. The surrounding area demonstrates significant residential density and high average household income: within one mile, there are 6,521 households with an average income of $75,884; within five miles, 102,152 households with an average income of $73,586; and within ten miles, 182,657 households with an average income of $77,432. This property offers a compelling investment opportunity in a thriving Sarasota location. The gross lease type and vacant tenancy provide flexibility for the new owner.

    Property Features for 3623 Webber St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    2,934 SF
    Class
    B

    Building Details

    Year Built
    1982
    Buildings
    1
    Stories
    2

    HighLights

    • $699,000 asking price for a vacant, 2,934 square foot retail shopping center.
    • Gross lease, Class B property with two stories, built in 1982.
    • Located at 3623 Webber St, Sarasota, FL 34232, on a 3,086 square foot lot, zoned CG.
    • Features two 1,467 SF units, each with a separate storefront entrance.
    • High traffic location at the intersection of Webber and Beneva Streets, with ample parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    New Moka Oriental ... Massage Spa Super Circle Fitness Personal Trainer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.49712181781
    Latitude
    27.30906784655

    Nearby Similar for Sale

    • $3,800,000
      8,165 SF

      Downtown Sarasota Mixed-Use Building

      Three-story mixed-use building in downtown Sarasota with penthouse residence.
      1345 2Nd St, Sarasota, FL 34236
      View Details
    • $6,249,000
      7,934 SF

      Equestrian Estate on 20 Acres

      Sarasota equestrian estate with barns, multiple residences, and equestrian facilities.
      8200 Ibis St, Sarasota, FL 34241
      View Details
    • $600,000
      Pending

      Unique Triplex in Laurel Park

      Triplex in Laurel Park neighborhood, close to downtown and Sarasota Bay.
      1825 Hawkins Ct, Sarasota, FL 34236
      View Details
    • New
      $1,525,000
      1,708 SF

      Siesta Key Income Property

      Rare duplex zoned for daily rentals near Siesta Key Beach.
      1123 Crescent St, Sarasota, FL 34242
      View Details
    • $1,790,000
      3,249 SF

      Sarasota Triplex Near Siesta Key

      Fully furnished triplex near Siesta Key with pool and courtyard.
      2069 Bougainvillea St, Sarasota, FL 34239
      View Details
    • $1,650,000
      Pending

      Corner Commercial Property Near Siesta Key

      Corner commercial property near Siesta Key, suitable for restaurant.
      6200 S Tamiami Trl, Sarasota, FL 34231
      View Details
    • New
      $825,000
      1,628 SF

      Remodeled Duplex Near Siesta Key

      Sarasota duplex with income potential, near Siesta Key Beach.
      2237 Michele Dr, Sarasota, FL 34231
      View Details
    • $825,000
      2,118 SF

      Updated Duplex in Sarasota, FL

      Updated duplex with income potential near Siesta Key Beach.
      2227 Montclair Dr, Sarasota, FL 34231
      View Details
    • $450,000
      9,882 SF

      Profitable Coastal Rental Business Opportunity

      Turnkey coastal rental business with immediate cash flow and growth potential.
      2239 15Th St, Sarasota, FL 34237
      View Details
    • $450,000

      Profitable Coastal Rental Business Opportunity

      Turnkey rental business with high sales and growth potential.
      2239 15Th St, Sarasota, FL 34237
      View Details
    • $5,499,000
      0.37 Acres

      Siesta Key Bayfront Land

      Exceptional bayfront property with breathtaking views and premier boating access.
      843 Norsota Way, Sarasota, FL 34242
      View Details
    • $2,450,000
      1,920 SF

      Duplex Near Siesta Key Beach

      Duplex with shared pool, near beach, shops, and restaurants.
      308 Canal Rd, Sarasota, FL 34242
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Prime Sarasota Retail, Vacant, 2934 SF
    Where is this lifestyle center 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: $699,000 asking price for a vacant, 2,934 square foot retail shopping center.; Gross lease, Class B property with two stories, built in 1982.; Located at 3623 Webber St, Sarasota, FL 34232, on a 3,086 square foot lot, zoned CG.
    Request Owner's contact information
    3623 Webber St Sarasota, FL 34232
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3623 Webber St
    Sarasota, FL 34232
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3623 Webber St Sarasota, FL 34232
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.