Fully Leased Five-Unit Strip
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 Market47
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
Changed: Oct 25
Last Checked: Oct 7 at 2:08PM
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.
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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 / Yr
$100,330
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
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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
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Market
Vacancy Rate% for Retail in South region
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
