Building Details

Year Built 1998

Listing Agency: REALTY ONE GROUP MVP Show Phone

Listed By: Michelle Morin Show Phone

Source: Exprealty

Added: Mar 31 Changed: Oct 1 Last Checked: Oct 20 at 10:12PM

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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

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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.

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 / Yr

$26,549

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$530,980 $531.0K

Cap Rate 7%

$379,271 $379.3K

Cap Rate 9%

$294,989 $295.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,896 SF

Gross rent

$32.5K $17.16/SF

− Vacancy

−$1.3K −$0.69/SF

EGI

$31.2K $16.47/SF

− OpEx

−$4.7K −$2.47/SF

NOI

$26.5K $14.00/SF

Area

Sarasota County, FL

Vacancy

4.00%

Lease Rate

$17.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$530,980

Cap Rate 7%

$379,271

Cap Rate 9%

$294,989

Alternative Uses

Best Use

Warehouse

$379.3K

$331.9K – $442.5K (±1% cap)

NOI $26,549 @ 7.0% cap · market cap 4.62%

Second Best

Industrial

$312.3K

$273.3K – $364.4K (±1% cap)

NOI $21,864 @ 7.0% cap · market cap 3.80%

Theoretical Best

Office A

$538.9K

$471.5K – $628.7K (±1% cap)

NOI $37,720 @ 7.0% cap · market cap 6.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Restaurant Real Estate Agency Spa & Massage Center Hair Salon Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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