31 Sarasota Center BlvdSarasota, FL 34240

Property Details for 31 Sarasota Center Blvd

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.50 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,148,400

  6.5%

  $1,060,060

  7%

  $984,342

• Comparable approach

  Method

  Valuation

  Relative Method

  $766,329

  Geo Method

  $697,647

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,082,910

  Retail / Commercial

  $1,068,910

  Mixed-Use / Specialty

  $1,065,730

  Hospitality / Lodging

  $782,719

  Institutional / Educational

  $1,108,160

  Residential Income

  $1,296,550

  Multifamily

  $1,551,490

  Automotive / Energy

  $949,850

  Parking / Income-Based Land

  $327,155

  Restaurant / Food Service

  $555,649

  Healthcare / Senior Housing

  $1,092,240

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.34

Longitude

-82.4062

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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