2477 Stickney Point RdSarasota, FL 34231

Property Details for 2477 Stickney Point Rd

Year built

1982

Property size (Sq ft)

1,491 SF

Zone code

OPI

Property type

Healthcare properties

Property subtype

Medical offices

APN

0103-10-1020

APU

103101020

Description

This exceptional investment opportunity presents a fully leased portfolio of four executive office condos in Sarasota, Florida. Located at 2477 Stickney Point Rd, this property boasts a total of 5,531 square feet across two buildings, situated on a 2.5-acre lot. The portfolio comprises four non-contiguous units ranging in size from 880 to 1,780 square feet of net rentable space, with a total net rentable area of 1,780 square feet. Built in 1984, the two-story buildings offer a solid foundation for a strong return on investment. Each unit is under a triple net (NNN) lease, minimizing landlord responsibilities. The property commands an asking price of $1,650,000, representing a compelling price per square foot of $298.32 and a strong 6.26% capitalization rate, generating a net operating income (NOI) of $103,271. This turnkey investment is ideally suited for a 1031 exchange, offering a stable income stream and significant upside potential in the desirable Sarasota submarket, zip code 34231. The property's location in Sarasota County, Florida provides excellent access to local amenities and a thriving business community. This is a rare opportunity to acquire a well-maintained, high-performing office portfolio with minimal management requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $431,175

  6.5%

  $398,008

  7%

  $369,579

• Comparable approach

  Method

  Valuation

  Relative Method

  $296,990

  Geo Method

  $272,301

• Alternative Use

  Use

  Valuation

  Residential

  $493,530

  Hospitality

  $452,071

  Educational

  $376,118

  Medical

  $389,053

  Retail

  $585,072

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.2653

Longitude

-82.5188

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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