End-Unit Flex
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For Sale
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2555 PORTER LAKE DR, Sarasota, FL 34240
End-unit commercial suite with private offices, conditioned storage, and PID - Planned Industrial Development zoning.
Property Size1,000 SF
Price / SF$275
Days on Market6
Property Features for 2555 PORTER LAKE DR
General Information
Standard status
Active
Size
1,000 SF
Class
B
Property subtype
Office, Industrial
Zoning
PID - PLANNED INDUSTRIAL DEVELOPMENT
Building Details
Year Built
2003
Year Renovated
2020
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Harry E. Robbins Associates, Inc
(941) 356-1613
Listed By:
Troy Robbins · License #FL 3169642
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 18 at 5:22AM
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 Harry E. Robbins Associates, Inc
Investment Insights
Based on property information with market context.
This 1,000 SF flex condominium at 2555 Porter Lake Dr. #101, Sarasota, is configured as an end unit with a reception and waiting area, two private offices, and a private restroom. The suite also includes an air-conditioned storage room with a kitchenette, accessed through a 6' double-door entry. Built in 2003, the unit does not include an overhead door.
The layout supports office-oriented use as well, with a reception area, two private offices, and a large open workroom with kitchenette. The property is zoned PID - Planned Industrial Development, providing a defined industrial-development setting for the flex space.
The layout supports office-oriented use as well, with a reception area, two private offices, and a large open workroom with kitchenette. The property is zoned PID - Planned Industrial Development, providing a defined industrial-development setting for the flex space.
Key Highlights
- 1,000 SF end‑unit flex condominium
- Reception and waiting area with 2 private offices
- Private restroom included
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
$16,330
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
5.94%
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%
$326,600
$326.6K
Cap Rate 7%
$233,286
$233.3K
Cap Rate 9%
$181,444
$181.4K
Market Conditions
NOI Build-Up for 1,000 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
$23.0K $23.04/SF
− Vacancy
−$1.3K −$1.27/SF
EGI
$21.8K $21.77/SF
− OpEx
−$5.4K −$5.44/SF
NOI
$16.3K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$326,600
Cap Rate 7%
$233,286
Cap Rate 9%
$181,444
Alternative Uses
Best Use
Office B
$233.3K
$204.1K – $272.2K
NOI $16,330 @ 7.0% cap · market cap 5.94%
Second Best
Flex RnD
$140.8K
$123.2K – $164.3K
NOI $9,855 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$294.1K
$257.3K – $343.1K
NOI $20,585 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,121
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - End-unit commercial suite with private offices, conditioned storage, and PID - Planned Industrial Development zoning.
Where is this flex space located?
The property is located at 2555 PORTER LAKE DR Sarasota, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,000 SF end‑unit flex condominium; Reception and waiting area with 2 private offices; Private restroom included
