Two-Unit Flex
For Sale
$1,200,000
1882 PORTER LAKE DR #107/108, Sarasota, FL 34240
The two spaces can operate together or separately for office, showroom, or light industrial use.
Property Size3,792 SF
Price / SF$316.46
Days on Market212
Property Features for 1882 PORTER LAKE DR #107/108
General Information
Standard status
Active
Size
3,792 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$8,220
Building Details
Building Size
3,792 SF
Year Built
1998
Listing Agency:
REALTY ONE GROUP MVP
Listed By:
Michelle Morin
(800) 896-8790
Source:
Bascomgrooms
Added: Apr 1
Changed: Oct 26
Last Checked: Oct 26 at 3:32PM
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.
This 3,792-square-foot flex property consists of units 107 and 108, built in 1998. The units can be used as a single space or separated. The stated use options include office, showroom, and light industrial applications.
Warehouse flooring has received a new epoxy finish, and new carpet is being installed in the office area. These existing improvements provide distinct warehouse and office components within the combined property.
Warehouse flooring has received a new epoxy finish, and new carpet is being installed in the office area. These existing improvements provide distinct warehouse and office components within the combined property.
Key Highlights
- 3,792 square feet across units 107 and 108
- Built in 1998
- Units can be operated together or separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,098
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,061,960
$1.1M
Cap Rate 7%
$758,543
$758.5K
Cap Rate 9%
$589,978
$590.0K
Market Conditions
NOI Build-Up for 3,792 SF
Gross rent
$65.1K $17.16/SF
− Vacancy
−$2.6K −$0.69/SF
EGI
$62.5K $16.47/SF
− OpEx
−$9.4K −$2.47/SF
NOI
$53.1K $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%
$1,061,960
Cap Rate 7%
$758,543
Cap Rate 9%
$589,978
Alternative Uses
Best Use
Warehouse
$758.5K
$663.7K – $885.0K
NOI $53,098 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$624.7K
$546.6K – $728.8K
NOI $43,728 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.08M
$943.0K – $1.26M
NOI $75,440 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open 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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The two spaces can operate together or separately for office, showroom, or light industrial use.
Where is this flex space located?
The property is located at 1882 PORTER LAKE DR #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: 3,792 square feet across units 107 and 108; Built in 1998; Units can be operated together or separately
