Fully Leased Five-Unit Strip
New
For Sale
$1,200,000
119 S Indiana Ave, Englewood, FL 34223
Retail property with established occupancy, on-site parking, and prominent state highway exposure in Old Englewood Village.
Property Size5,640 SF
Price / SF$212.77
Days on Market2
Property Features for 119 S Indiana Ave
General Information
Standard status
Active
Size
5,640 SF
Occupancy
100%
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
LASBURY-TRACY REALTY INC.
Listed By:
Bart Tracy II, Austin Tracy
Source:
Livewelltampabay
Added: Sep 18
Last Checked: Sep 18 at 3:42PM
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 LASBURY-TRACY REALTY INC.
Investment Insights
Based on property information with market context.
This fully occupied strip plaza contains five retail units and is anchored by a newer roof, an updated parking lot, and on-site signage. Two units are leased to one tenant under a five-year term, while the remaining three spaces are occupied under month-to-month agreements. The property was built in 1958 and is positioned within the X500 flood zone.
Located at 119 S Indiana Ave in Englewood, the plaza fronts SR776 in Historic Old Englewood Village. The site includes parking for customers and tenants, with retail storefront space suited to both established occupancy and owner-user consideration. Its location along a major state highway provides direct exposure to passing traffic.
Located at 119 S Indiana Ave in Englewood, the plaza fronts SR776 in Historic Old Englewood Village. The site includes parking for customers and tenants, with retail storefront space suited to both established occupancy and owner-user consideration. Its location along a major state highway provides direct exposure to passing traffic.
Key Highlights
- Five‑unit retail plaza with all spaces occupied
- Two units leased to one tenant under a five‑year lease
- Three additional units occupied on month‑to‑month leases
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
$100,330
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
8.36%
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%
$2,006,600
$2.0M
Cap Rate 7%
$1,433,286
$1.4M
Cap Rate 9%
$1,114,778
$1.1M
Market Conditions
NOI Build-Up for 5,640 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
$148.2K $26.28/SF
− Vacancy
−$4.9K −$0.87/SF
EGI
$143.3K $25.41/SF
− OpEx
−$43.0K −$7.62/SF
NOI
$100.3K $17.79/SF
Area
Charlotte County, FL
Vacancy
3.30%
Lease Rate
$26.28 /SF/Yr
Expense Ratio
30.00%
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%
$2,006,600
Cap Rate 7%
$1,433,286
Cap Rate 9%
$1,114,778
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,330 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,269 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail property with established occupancy, on-site parking, and prominent state highway exposure in Old Englewood Village.
Where is this strip mall located?
The property is located at 119 S Indiana Ave Englewood, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five‑unit retail plaza with all spaces occupied; Two units leased to one tenant under a five‑year lease; Three additional units occupied on month‑to‑month leases
