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 Market95
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
Listed By:
Michelle Morin
(941) 307-5489
Source:
Whitesandsfl
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 7 at 5:18PM
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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Review the available facts, identify missing information and prepare questions for the agent.
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 / 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
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
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
