Move-in Ready Industrial/Flex
For Sale
Contact for pricing
1891 Porter Lake Dr, Sarasota, FL 34240
1,896 SF industrial/flex space in Lake Industrial Park.
Property Size1,896 SF
Price / SF$276.90
Days on Market185
Property Features for 1891 Porter Lake Dr
General Information
Standard status
Active
Size
1,896 SF
Property subtype
Industrial
Building Details
Tenancy
Single
Listing Agency:
Ian Black Real Estate LLC
(941) 906-8688
Listed By:
George W. Brusco · License #FL BK3406425
Source:
Crexi
Added: Feb 23
Changed: Aug 14
Last Checked: Aug 24 at 8:58PM
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 Ian Black Real Estate LLC
Investment Insights
Based on property information with market context.
This 1,896 SF industrial/flex space is located in Lake Industrial Park, providing access to I-75 and Fruitville Rd. The property offers a layout suitable for industrial and commercial uses. The space includes approximately 550 SF of office space, featuring a reception area, an executive office/showroom, two private offices, and two newly renovated restrooms. The warehouse space is fully air-conditioned and has a 16-foot clear ceiling height, a 250 SF mezzanine, and a 12-foot overhead door. The space is equipped with a security system.
Key Highlights
- Move‑in ready 1,896 SF industrial/flex space.
- Located in the highly desirable Lake Industrial Park with convenient access to I‑75 and Fruitville Rd.
- Fully air‑conditioned warehouse with 16' clear ceiling height.
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
$18,686
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
3.56%
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%
$373,720
$373.7K
Cap Rate 7%
$266,943
$266.9K
Cap Rate 9%
$207,622
$207.6K
Market Conditions
NOI Build-Up for 1,896 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
$30.3K $15.96/SF
− Vacancy
−$1.5K −$0.80/SF
EGI
$28.7K $15.16/SF
− OpEx
−$10.1K −$5.31/SF
NOI
$18.7K $9.86/SF
Area
Manatee County, FL
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$373,720
Cap Rate 7%
$266,943
Cap Rate 9%
$207,622
Alternative Uses
Best Use
Flex RnD
$266.9K
$233.6K – $311.4K
NOI $18,686 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$227.9K
$199.4K – $265.9K
NOI $15,951 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$557.6K
$487.9K – $650.5K
NOI $39,029 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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Frequently Asked Questions
What type of property is this?
Flex space - 1,896 SF industrial/flex space in Lake Industrial Park.
Where is this flex space located?
The property is located at 1891 Porter Lake Dr Sarasota, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Move‑in ready 1,896 SF industrial/flex space.; Located in the highly desirable Lake Industrial Park with convenient access to I‑75 and Fruitville Rd.; Fully air‑conditioned warehouse with 16' clear ceiling height.
