Flex Space with Overhead
New
For Sale
$275,000
1090 Innovation Ave # A107, North Port, FL 34289
A finished office area accompanies warehouse space with direct access through a roll-up door.
Property Size1,225 SF
Price / SF$224.49
Days on Market2
Property Features for 1090 Innovation Ave # A107
General Information
Standard status
Active
Size
1,225 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Clear Height
17 ft
Building Details
Building Size
1,225 SF
Year Built
2005
Listing Agency:
Hembree & Associates Inc
Listed By:
Michael Hollander
(941) 404-9850
Source:
Hembreeco
Added: Sep 24
Last Checked: Sep 24 at 2:45PM
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 Hembree & Associates Inc
Investment Insights
Based on property information with market context.
This 1,225-square-foot flex property combines finished office space with a warehouse area. A roll-up overhead door provides warehouse access, and the ceiling height from the floor to the underside of the roof trusses is approximately 17 feet. The building dates to 2005.
Situated in the North Port Park of Commerce on Toledo Blade, the property is 1 mile from I-75 and 4 miles from US 41. SR 776 provides north, south, and west travel connections from the area.
Situated in the North Port Park of Commerce on Toledo Blade, the property is 1 mile from I-75 and 4 miles from US 41. SR 776 provides north, south, and west travel connections from the area.
Key Highlights
- 1,225 SF of finished office and warehouse space
- Warehouse ceiling height is approximately 17 feet to the underside of the roof trusses
- Warehouse access through a roll‑up overhead door
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
$17,153
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
6.24%
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%
$343,060
$343.1K
Cap Rate 7%
$245,043
$245.0K
Cap Rate 9%
$190,589
$190.6K
Market Conditions
NOI Build-Up for 1,225 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
$21.0K $17.16/SF
− Vacancy
−$841 −$0.69/SF
EGI
$20.2K $16.47/SF
− OpEx
−$3.0K −$2.47/SF
NOI
$17.2K $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 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%
$343,060
Cap Rate 7%
$245,043
Cap Rate 9%
$190,589
Alternative Uses
Best Use
Warehouse
$245.0K
$214.4K – $285.9K
NOI $17,153 @ 7.0% cap · market cap 6.24%
Second Best
Industrial
$201.8K
$176.6K – $235.4K
NOI $14,126 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$348.2K
$304.6K – $406.2K
NOI $24,371 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
17 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34289, FL
3,359
Population
1,923
Households
1.7
Avg Household Size
52
Median Age
33%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
933
Density / Sq Mi
$93,952
Median Household Income
$51,681
Median Earnings
$1,769
Median Rent
$338,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - A finished office area accompanies warehouse space with direct access through a roll-up door.
Where is this flex space located?
The property is located at 1090 Innovation Ave # A107 North Port, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,225 SF of finished office and warehouse space; Warehouse ceiling height is approximately 17 feet to the underside of the roof trusses; Warehouse access through a roll‑up overhead door
