Flex Office/Warehouse
For Sale
$575,000
106-1882 Porter Lake Dr, Sarasota, FL 34240
Unit 106 includes a front office and rear warehouse with a roll-up overhead door for loading and storage operations.
Property Size1,896 SF
Price / SF$303.27
Days on Market161
Property Features for 106-1882 Porter Lake Dr
General Information
Standard status
Active
Size
1,896 SF
Additional Details
Highway Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$4,137
Building Details
Year Built
1998
Listing Agency:
REALTY ONE GROUP MVP
(800) 896-8790
Listed By:
Michelle Morin
(941) 307-5489
Source:
Exprealty
Added: Mar 31
Changed: Aug 31
Last Checked: Sep 6 at 3:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REALTY ONE GROUP MVP
Investment Insights
Based on property information with market context.
Unit 106 at 1882 Porter Lake Drive is a flex office/warehouse space built in 1998. The layout combines a professional front office area with a functional rear warehouse, supporting both administrative and operational needs in one unit. The warehouse is equipped with a roll-up overhead door, providing direct access for deliveries, loading, and day-to-day storage.
The property is located in Sarasota with convenient access to major transportation routes. It sits in a growing commercial corridor near I-75 and the Fruitville area.
This unit is well-suited for a range of business uses, including light industrial, storage, distribution, service-based operations, or an office/warehouse combination.
The property is located in Sarasota with convenient access to major transportation routes. It sits in a growing commercial corridor near I-75 and the Fruitville area.
This unit is well-suited for a range of business uses, including light industrial, storage, distribution, service-based operations, or an office/warehouse combination.
Key Highlights
- Unit 106 at 1882 Porter Lake Drive, Sarasota—approximately 1,896 SF flex office/warehouse space
- Front office plus rear warehouse layout for a blend of administrative and operational use
- Warehouse has a roll‑up overhead door for loading, deliveries, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,369
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,380
$387.4K
Cap Rate 7%
$276,700
$276.7K
Cap Rate 9%
$215,211
$215.2K
Market Conditions
NOI Build-Up for 1,896 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.7K $12.48/SF
− Vacancy
−$875 −$0.46/SF
EGI
$22.8K $12.02/SF
− OpEx
−$3.4K −$1.80/SF
NOI
$19.4K $10.22/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,380
Cap Rate 7%
$276,700
Cap Rate 9%
$215,211
Alternative Uses
Best Use
Warehouse
$276.7K
$242.1K – $322.8K
NOI $19,369 @ 7.0% cap · market cap 3.37%
Second Best
Flex RnD
$266.9K
$233.6K – $311.4K
NOI $18,686 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$557.6K
$487.9K – $650.5K
NOI $39,029 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
935
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34240, FL
14,428
Population
7,570
Households
1.9
Avg Household Size
49
Median Age
52%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
217
Density / Sq Mi
$126,048
Median Household Income
$53,284
Median Earnings
$2,306
Median Rent
$622,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Unit 106 includes a front office and rear warehouse with a roll-up overhead door for loading and storage operations.
Where is this flex space located?
The property is located at 106-1882 Porter Lake Dr Sarasota, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Unit 106 at 1882 Porter Lake Drive, Sarasota—approximately 1,896 SF flex office/warehouse space; Front office plus rear warehouse layout for a blend of administrative and operational use; Warehouse has a roll‑up overhead door for loading, deliveries, and storage
