2023 Office Space Rent & Sales
- $31.06 2023 Avg. Asking Rent
- 12.83% 2023 Office Vacancy Rate
Sarasota City office price per square foot in 2023 was $31.06 on average. The local office market recorded an average vacancy rate of 12.83% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Florida Class A & A+ Office Space$36.87
- Florida Class B Office Space$27.52
- Florida Class C Office Space$32.32
Sarasota City, FL Office Asking Rents by Class
2023 Office Vacancy Rates in Sarasota City
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Sarasota | $31.05 | 14.57% |
| Outlying Sarasota County | $30.83 | 6.20% |
| Bradenton | $29.06 | 18.51% |
Office Spaces for Rent in Florida
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Coworking Spaces in Florida
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2023 Office Construction in Sarasota City, FL
- Sarasota City, FL Total SF completed in 2023 42,480
During 2023, 42,480 square feet of new office space were delivered across the market. At the close of 2023, the Sarasota City office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 42,480 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Office and High-end Work Studio Property on N Washington Blvd. | 4139 N Washington Blvd, 34234 | 9,250 | 2008 |
| HARD TO FIND OFFICE CONDO IN DOWNTOWN SARASOTA! | 505 S. Orange Ave., Ste.'s C1 & C2, 34236 | 3,863 | 2007 |
| 1348 Fruitville Rd | 1348 Fruitville Road #301, 34236 | 19,540 | 2005 |
| Fruitville Professional Villas | 1348 Fruitville Rd Suite 301, 34236 | 19,540 | 2005 |
| Courthouse Centre | 1990 Main Street, 34236 | 93,756 | 2004 |
| 1517 State Street | 1517 State St, 34236 | 14,352 | 2004 |
| 2480 Fruitville Rd | 2480 Fruitville Rd, 34237 | 8,900 | 2004 |
| 3325 South Tamiami Trail | 3325 South Tamiami Trail, 34239 | 18,924 | 2002 |
| Kane Plaza | 1 S. School Ave, 34237 | 88,178 | 2000 |
| Waldemere Medical Plaza | 1921 Waldemere Street, 34239 | 148,961 | 1990 |
Worth noting among recent office completions on the Sarasota City market is Office and High-end Work Studio Property on N Washington Blvd., which is currently the largest new office development in the city, at 9,250 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Sarasota City commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.