Second-Floor Office
For Sale
$250,000
E214-2831 Ringling Blvd, Sarasota, FL 34236
Second-floor suite with reception area, three private offices, private restroom, kitchenette, elevator access, and covered balconies.
Property Size635 SF
Price / SF$393.70
Days on Market33
Property Features for E214-2831 Ringling Blvd
General Information
Standard status
Active
Size
635 SF
Taxes and HOA fees
Annual Taxes
$2,086
Listing Agency:
LOYD ROBBINS & CO. LLC
(941) 321-5147
Listed By:
Ali Marks · License #3560076
(941) 321-5147
Source:
Exprealty
Added: Jul 21
Changed: Aug 20
Last Checked: Aug 22 at 12:14PM
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 LOYD ROBBINS & CO. LLC
Investment Insights
Based on property information with market context.
Ringling Professional Center offers a well-maintained second-floor office condominium with 635 SF of functional space. The suite begins with a reception/work area and flows into three private offices, providing options for individual workspaces, conference use, or administrative functions. Large windows, two private covered balconies, a private restroom, and a kitchenette support day-to-day client and staff needs, and elevator access provides added convenience.
The professional office community features mature landscaping, ample parking, and attractive architecture, with easy access from Ringling Boulevard or Fruitville Rd. CN zoning supports a wide variety of professional office users.
This property is offered for sale and is positioned for both owner-users looking to reduce ongoing leasing and investors seeking a centrally located office condominium within the Ringling Professional Center.
The professional office community features mature landscaping, ample parking, and attractive architecture, with easy access from Ringling Boulevard or Fruitville Rd. CN zoning supports a wide variety of professional office users.
This property is offered for sale and is positioned for both owner-users looking to reduce ongoing leasing and investors seeking a centrally located office condominium within the Ringling Professional Center.
Key Highlights
- Second‑floor office condominium suite with 635 SF of office space
- Suite layout includes a reception/work area plus three private offices
- Features include a private restroom and a kitchenette
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
$10,369
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
4.15%
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%
$207,380
$207.4K
Cap Rate 7%
$148,129
$148.1K
Cap Rate 9%
$115,211
$115.2K
Market Conditions
NOI Build-Up for 635 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
$14.6K $23.04/SF
− Vacancy
−$805 −$1.27/SF
EGI
$13.8K $21.77/SF
− OpEx
−$3.5K −$5.44/SF
NOI
$10.4K $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%
$207,380
Cap Rate 7%
$148,129
Cap Rate 9%
$115,211
Alternative Uses
Best Use
Office B
$148.1K
$129.6K – $172.8K
NOI $10,369 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$186.7K
$163.4K – $217.9K
NOI $13,071 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor suite with reception area, three private offices, private restroom, kitchenette, elevator access, and covered balconies.
Where is this office units located?
The property is located at E214-2831 Ringling Blvd Sarasota, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Second‑floor office condominium suite with 635 SF of office space; Suite layout includes a reception/work area plus three private offices; Features include a private restroom and a kitchenette
