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

    31 Sarasota Center Blvd Sarasota, FL 34240

    • Office buildings
    • 3,820 SF
    • 0.50 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9182640
    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

    • C & S Community Management Services / Corporate Office
    • C & S Community Management / Homeowners' Association / Property Management Company
    • Prime Pharmacy Services / Pharmacy
    • WebSearchFX SEO / Internet Marketing Service / Marketing Agency
    • Addingtons Heater Repairs / Hot Water System Supplier

    Property Details for 31 Sarasota Center Blvd

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.50 lot acres
    Property size
    3,820 SF
    Zone code
    PID
    Property type
    Office buildings
    APN
    0219-02-0091
    APU
    219020091

    Description

    This 3,820-square-foot freestanding office building is ideally situated at the entrance to Sarasota Center Boulevard, one of three main entrances to Lakewood Ranch, Florida. Its convenient location offers easy access to I-75 and is close to prominent residential communities like Waterside, Founders, and Laurel Oak. Currently configured as three office suites with the potential for subdivision into four, each suite boasts a storefront entrance and access to a large, private parking lot located at the rear of the building for enhanced security and privacy. Abundant natural light floods the space through numerous windows. The property is enhanced by mature oak trees and features a recently installed new roof. Currently, half of the building is leased, generating passive income, making it an attractive investment opportunity. The building is vacant as of September 1st, 2024, presenting a chance to customize the space to suit a variety of professional uses, including but not limited to contractor, CPA, attorney, real estate, development, or financial planning firms. The property's strategic location and features make it a compelling option for both owner-occupiers and investors seeking a strong return.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $990,000
      6.5%
      $915,000
      7%
      $850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,105,000
      Market price range: $897k - $1.76M
      AI Estimate
      $755,000
      Market price range: $407k - $1.26M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,230,000
      Current use
      MEDICAL BUILDING
      $1,520,000
      Change: +23% Conversion: Easy
      RETAIL STORES
      $1,510,000
      Change: +22% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4062
    Latitude
    27.34
    CBSA code
    35840
    CBSA name
    NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,457
    $252,800
    $337,700
    $590,500
    -
    $252,800
    $337,700
    $590,500

    Comparable in this City

    • Value Estimation
      $1,820,000
      6,123 SF

      78 Sarasota Ctr Blvd

      OFFICE BUILDING (MULTI-STORY) • 6,123 SF
      78 Sarasota Ctr Blvd, Sarasota, FL 34240-9770
      View Details
    • Value Estimation
      $2,090,000
      11,434 SF

      7329 International Pl

      OFFICE BUILDING • 11,434 SF
      7329 International Pl, Lakewood Ranch, FL 34240-8418
      View Details
    • Value Estimation
      $2,830,000
      10,980 SF

      7337 International Pl

      OFFICE BUILDING • 10,980 SF
      7337 International Pl, Lakewood Ranch, FL 34240-8418
      View Details
    • Value Estimation
      $15,150,000
      60,949 SF

      5501 Communications Pkwy

      OFFICE BUILDING • 60,949 SF
      5501 Communications Pkwy, Lakewood Ranch, FL 34240-8474
      View Details
    • Value Estimation
      $1,495,000
      12,530 SF

      6305 Initiative Blvd

      PROFESSIONAL BUILDING • 12,530 SF
      6305 Initiative Blvd, Sarasota, FL 34240-1261
      View Details
    • Value Estimation
      $3,440,000
      14,412 SF

      6801 Energy Ct

      OFFICE BUILDING (MULTI-STORY) • 14,412 SF
      6801 Energy Ct, Lakewood Ranch, FL 34240-5817
      View Details

    Similar Nearby for Sale

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      Freestanding Warehouse Investment Opportunity

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      Office/Flex building with security and comfort features, available 2026.
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    • $550,000
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      Fully Leased Office Investment Opportunity

      Turnkey office suites near Waterside Lakewood Ranch, fully leased.
      72 Sarasota Center Blvd, Sarasota, FL 34240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      Modern Office Building in Sarasota

      Three-story office building with modern architectural details and central location.
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      View Details
    • $1,800 /Mo
      1,250 SF

      Office/Warehouse Near I-75 Available

      Office/warehouse near I-75, Fruitville, Bee Ridge, and Cattlemen Road.
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    • $25 SF/Yr
      3,820 SF

      Sarasota Office Building For Sale

      3,820 sq ft freestanding office, prime location.
      31 Sarasota Center Blvd, Sarasota, FL 34240
      View Details
    • $21 SF/Yr
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      Prime Office Space For Lease

      Office space for lease near Fruitville Rd. with ample parking.
      40 Sarasota Center Blvd, Sarasota, FL 34240
      View Details
    • $28 SF/Yr
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      Prime Sarasota Office Space

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      View Details
    • $21,000
      5,000 SF

      Lakewood Ranch Stand-Alone Building

      5,000 SF commercial building with high-end finishes and ample parking.
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      View Details
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    Sarasota, FL 34240
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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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