Englewood Commercial Condo Investment
406 N INDIANA AVENUE #3 & 4 Englewood, FL 34223
406 N INDIANA AVENUE #3 & 4, Englewood, FL, 34223
$400,000
For Sale
$400,000
Two commercial condo units in Englewood, suitable for investment/owner-user.
Property Size2,000 SF
Lot Size1.37 Acres
Price / SF$200
Days on Market475
Property Features for 406 N INDIANA AVENUE #3 & 4
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Lot size
- 1.37 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing agency
MICHAEL SAUNDERS & COMPANY
(941) 957-3730
Listed by
TAMMY SHAW · License ##BK3336061
Source
Corcoran
Added: Apr 4, 2025 Updated: Jul 10 at 3:46PM Checked: Jul 22 at 8:30AM
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 MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
Two commercial condo units are available for sale, either together or separately for $200,000 each. Each unit offers 1,000 square feet, totaling 2,000 square feet for both. These units have been recently remodeled, featuring a new roof, soffit, fascia, and gutters with warranties, along with new signage and updated plumbing. Located on the north side of Englewood in Sarasota County, the condos are units 3 and 4 of the Plaza, situated on the main state route 776. Ample parking is available on-site. This location is suitable for medical, office, or retail businesses in a beachfront community. The area is served by the Englewood Water District and the Englewood Fire District. Popular entertainment options include the beach, restaurants, and a small shopping district primarily along Dearborn Street. This property presents a superb investment opportunity.
Key Highlights
- Two commercial condo units available, offering flexibility for investment or owner‑user.
- Prime location on State Route 776 in Englewood, Sarasota County, ideal for medical, office, or retail businesses.
- Newly remodeled with significant upgrades: new roof, soffit, fascia, gutters (with warranties), new signage, and updated plumbing.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $21.60 |
| − Vacancy | −$10.2k | −$5.10 |
| EGI | $33.0k | $16.50 |
| − OpEx | −$8.3k | −$4.13 |
| NOI | $24.8k | $12.38 |
2,000 SF · lease $21.60/SF/yr · vacancy 23.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$353.6K
$309.4K – $412.6K
NOI $24,754 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$654.9K
$573.0K – $764.0K
NOI $45,840 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Two commercial condo units in Englewood, suitable for investment/owner-user.
Where is this office units located?
The property is located at 406 N INDIANA AVENUE #3 & 4 Englewood, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two commercial condo units available, offering flexibility for investment or owner‑user.; Prime location on State Route 776 in Englewood, Sarasota County, ideal for medical, office, or retail businesses.; Newly remodeled with significant upgrades: **new roof, soffit, fascia, gutters (with warranties), new signage, and updated plumbing.**
