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    2641 201 Sarasota, FL 34237

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    2641 201 Sarasota, FL 34237

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    • Office properties & Spaces
    • 1,250 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2641 201

    Year built
    2023
    Property size
    1,250 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 1,250-square-foot office condominium unit is situated on the second floor of a brand-new, three-story professional office building in Sarasota's Foundation Park. Completed in 2023, this Class A space boasts a desirable multi-tenancy configuration and is available for sale as an owner-user opportunity. The unit features four executive-sized private offices, a reception/administrative area, a comfortable waiting room, a convenient break room, and a private restroom. Large windows in most offices provide ample natural light. Currently approximately 85% complete, this turnkey space allows the new owner to personalize the finishing touches to perfectly suit their needs. The property is zoned for Office Regional District (ORD) use and offers fee simple ownership. The unit is ready for occupancy on November 1, 2024. Located at 2641 Fruitville Road, Unit 1-201, Sarasota, FL 34237, this property presents a fantastic investment opportunity in a thriving Sarasota location. The property includes one building and is part of a larger multi-unit complex. The asking price is $437,500. Property APN is 2028162002.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.5176
    Latitude
    27.3391

    Comparable in this City

    • Value Estimation by Request
      1,250 SF

      2641 203

      Medical Office Space • 1,250 SF
      2641 203, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      45,645 SF

      2805 Fruitville Rd

      Medical Office Space • 45,645 SF
      2805 Fruitville Rd, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      1,250 SF

      2641 201

      Medical Office Space • 1,250 SF
      2641 201, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      1,750 SF

      2641 301 Blvd

      Medical Office Space • 1,750 SF
      2641 301 Blvd, Sarasota, FL 34237
      View Details
    • Value Estimation by Request
      1,104 SF

      2750 Ringling Blvd Ste, Unit 1

      MEDICAL BUILDING • 1,104 SF
      2750 Ringling Blvd Ste, Sarasota, FL 34237-6300
      View Details
    • Value Estimation
      $22,545,000
      88,178 SF

      1 School Ave

      MEDICAL BUILDING • 88,178 SF
      1 School Ave, Sarasota, FL 34237-6014
      View Details

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    2641 201
    Sarasota, FL 34237
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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
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