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    505 Orange Ave Sarasota, FL 34236

    Sponsored
    For Sale
    $1,525,000

    Prime Sarasota Office, 6% Cap Rate

    Property size:
    3,863 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a two-story, 3,863-square-foot Class B office condo located at 505 S. Orange Ave., Sarasota, FL 34236. Built in 2007, this property boasts a desirable Downtown Core (DTC) zoning, ensuring high visibility and accessibility within the thriving Sarasota market. Currently, a triple-net (NNN) lease is in place, expiring June 30th, 2027, and yielding a 6.00% capitalization rate. The asking price is $1,525,000, translating to $394.77 per square foot. The property is suitable for various office uses, including traditional and creative office spaces. A significant advantage is the inclusion of 13 covered, secured parking spaces. This versatile property offers a compelling investment opportunity for those seeking a strong return in a prime Sarasota location. The property can be purchased as an investment or delivered vacant upon lease expiration. Its modern design and strategic location make it an attractive option for investors looking to capitalize on the robust Sarasota real estate market. Don't miss this chance to add a high-value asset to your portfolio.

    Property Features for 505 Orange Ave

    General Information

    Property type
    Office space
    Square Feet
    3,863 SF
    Class
    B

    Building Details

    Year Built
    2007

    HighLights

    • Class B office condo, 3,863 square feet, located at 505 S. Orange Ave., Sarasota, FL 34236.
    • Built in 2007, with Downtown Core (DTC) zoning.
    • NNN lease in place, expiring June 30, 2027, yielding a 6.00% cap rate.
    • Asking price: $1,525,000 ($394.77/SF).
    • Includes 13 covered parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mc Cormack Thomas Acupuncture Clinic Cayuga Hospitality Consultants Consultant Quantum Consultancy, LLC Engineering Consultant Fyzical Offices Business Development Service Environmental Science Associates Environmental Consultant

    Suggested Use

    Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Daycare Center Building Supply Auto Repair Shop 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
    -82.5381813
    Latitude
    27.3323093

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    FAQs

    What type of property is this?
    Office space - Prime Sarasota Office, 6% Cap Rate
    Where is this office space located?
    The property is located at 505 Orange Ave Sarasota, FL.
    What is the asking price?
    The asking price for this property is $1,525,000.
    What are key features of this property?
    This property features: Class B office condo, 3,863 square feet, located at 505 S. Orange Ave., Sarasota, FL 34236.; Built in 2007, with Downtown Core (DTC) zoning.; NNN lease in place, expiring June 30, 2027, yielding a 6.00% cap rate.
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    Realmo Value Estimation

    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.

    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.

    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
    505 Orange Ave Sarasota, FL 34236
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