Combined Flex Warehouse
For Sale
$1,200,000
1882 Porter Lake Drive 107/108, Sarasota, FL 34240
Units 107 and 108 combine office space with warehouse area, with newly epoxied warehouse floors and new office carpet.
Property Size3,792 SF
Price / SF$316.46
Days on Market45
Property Features for 1882 Porter Lake Drive 107/108
General Information
Standard status
Active
Size
3,792 SF
Building Details
Year Built
1998
Listing Agency:
REALTY ONE GROUP MVP
(941) 307-5489
Listed By:
Michelle Morin
Source:
Whitesandsfl
Added: Jul 20
Changed: Aug 15
Last Checked: Sep 1 at 10:48PM
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.
This offering presents combined Units 107/108 with a flexible layout that can be operated as one cohesive space or separated for different operational needs. The warehouse floors have just been newly epoxied, and the office area flooring has been modified, with brand new carpet being installed.
The property is presented for sale as a flex-style warehouse/office configuration, suitable for businesses looking for an efficient day-to-day space with the option to tailor the layout to how they operate.
With the office and warehouse components under one combined configuration, the space is designed to support both workday functions and light industrial-style activity within the warehouse area.
The property is presented for sale as a flex-style warehouse/office configuration, suitable for businesses looking for an efficient day-to-day space with the option to tailor the layout to how they operate.
With the office and warehouse components under one combined configuration, the space is designed to support both workday functions and light industrial-style activity within the warehouse area.
Key Highlights
- Units 107 and 108 combine office and warehouse space into one flexible commercial setup
- Warehouse floors have been newly epoxied
- Brand new carpet is being installed in the office area
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
$38,737
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
3.23%
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%
$774,740
$774.7K
Cap Rate 7%
$553,386
$553.4K
Cap Rate 9%
$430,411
$430.4K
Market Conditions
NOI Build-Up for 3,792 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
$47.3K $12.48/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$45.6K $12.02/SF
− OpEx
−$6.8K −$1.80/SF
NOI
$38.7K $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%
$774,740
Cap Rate 7%
$553,386
Cap Rate 9%
$430,411
Alternative Uses
Best Use
Warehouse
$553.4K
$484.2K – $645.6K
NOI $38,737 @ 7.0% cap · market cap 3.23%
Second Best
Flex RnD
$533.9K
$467.1K – $622.9K
NOI $37,371 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.12M
$975.7K – $1.30M
NOI $78,058 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Units 107 and 108 combine office space with warehouse area, with newly epoxied warehouse floors and new office carpet.
Where is this flex space located?
The property is located at 1882 Porter Lake Drive 107/108 Sarasota, 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: Units 107 and 108 combine office and warehouse space into one flexible commercial setup; Warehouse floors have been newly epoxied; Brand new carpet is being installed in the office area
