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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2415 University Pkwy Sarasota, FL 34243

    • Medical offices
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1901599
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Joseph Conrad / Psychologist / Counselor
    • Kimberly Tyler / Nurse Practitioner / Family Practice Physician
    • Reichbach Center - Ketamine, Medical Cannabis & Psychotropics / Medical Clinic
    • Morgan Jr Randall Col MD / Orthopedic Surgeon
    • Dr. Alexander Fine / Psychiatrist / Internist

    Property Details for 2415 University Pkwy

    Property type
    Medical offices

    Description

    This exceptional medical office suite, located at 2415 University Parkway, Suite 216, Sarasota, FL 34243, presents a fantastic leasing opportunity. Situated on a highly visible corner lot at the signalized intersection of University Parkway and Shade Avenue within the well-maintained University Health Park, this single-tenant space offers unparalleled convenience and accessibility. The suite boasts a thoughtfully designed layout, perfect for a variety of medical practices. Features include a welcoming reception area complete with a check-in/check-out desk, a dedicated administrative office, five treatment rooms, a spacious doctor's office or therapy room, and a private restroom. The building is equipped with elevators for easy access to all floors. The property is zoned PD-O and its APN is 2040000209. This location provides excellent visibility and accessibility for patients, situated along the heavily traveled University Parkway corridor. The property's prime location and well-designed layout make it an ideal choice for medical professionals seeking a thriving practice environment in Sarasota, Florida. This is a single-tenant occupancy space. Interested parties should inquire for lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.520907538761
    Latitude
    27.3904816805

    Comparable in this City

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      University Parkway Office Suites

      Class A Sarasota Office Space, Sublease Available
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      Medical Suite on University Parkway

      Medical suite for lease in University Health Park.
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    • $22 SF/Yr
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      Medical Office in University Park

      Ground floor medical office space for lease in Sarasota, FL.
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    • $22 SF/Yr
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      Class A Office Space Available

      Prestigious Class A office space in prime University Parkway location.
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    Similar Nearby for Lease

    • $22 SF/Yr
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      University Parkway Office Suites

      Class A Sarasota Office Space, Sublease Available
      2970 University Pkwy, Sarasota, FL 34243
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    • $27 SF/Yr
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      Tamiami Trail Sarasota Office Space

      Prime Sarasota Office, 2681 sq ft
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      View Details
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      2,681 SF

      Sarasota Office Space for Lease

      Prime Tamiami Trail location, 2681 sq ft.
      7430 Tamiami Trl, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
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      Medical Suite on University Parkway

      Medical suite for lease in University Health Park.
      8451 N Shade Ave, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
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      Medical Office in University Park

      Ground floor medical office space for lease in Sarasota, FL.
      2401 University Pkwy, Sarasota, FL 34243
      View Details
    • $22 SF/Yr
      4,350 SF

      Class A Office Space Available

      Prestigious Class A office space in prime University Parkway location.
      2970 University Pkwy, Sarasota, FL 34243
      View Details
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    2415 University Pkwy
    Sarasota, FL 34243
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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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