Newly Remodeled Office Condo
406 N Indiana Avenue 3 & 4 Englewood, FL 34223
New
406 N Indiana Avenue 3 & 4, Englewood, FL, 34223
$400,000
For Sale
$400,000
Two office condo units totaling 2,000 sf are newly remodeled with a new roof, signage, and updated plumbing.
Property Size2,000 SF
Price / SF$200
Days on Market3
Property Features for 406 N Indiana Avenue 3 & 4
General Information
- Standard status
- Active
- Size
- 2,000 SF
Building Details
- Year Built
- 1984
Listing agency
MICHAEL SAUNDERS & COMPANY
(941) 955-8200
Listed by
Michael Saunders · License #0114236
Source
Whitesandsfl
Added: Jul 20 Updated: Jul 21 at 6:44PM Checked: Jul 22 at 4:50AM
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.
This offering includes two office condo units in the Plaza, identified as units 3 and 4. The spaces are newly remodeled and include a new roof with new soffit, fascia, and gutters with warranties. Additional improvements referenced include updated plumbing and new signage. The property is being sold as commercial condo units, with both units available together or individually.
The condos are located on the north side (Sarasota County) of Englewood on the main state route 776, with ample on-site parking. The area is described as a beachfront community with an established small shopping district primarily along Dearborn Street, and entertainment options including the beach and restaurants.
The sale includes two 1,000 sf units for a combined 2,000 sf of office condo space. The property configuration supports either an owner-user setup or an investment approach within the Plaza building.
The condos are located on the north side (Sarasota County) of Englewood on the main state route 776, with ample on-site parking. The area is described as a beachfront community with an established small shopping district primarily along Dearborn Street, and entertainment options including the beach and restaurants.
The sale includes two 1,000 sf units for a combined 2,000 sf of office condo space. The property configuration supports either an owner-user setup or an investment approach within the Plaza building.
Key Highlights
- 1984‑built commercial condo with 2 office units (condos 3 and 4), 1,000 SF each (2,000 SF total)
- Newly remodeled with new roof, soffit, fascia, and gutters with warranties
- Updated plumbing and new signage
Local Financial Insights For Healthcare Medical
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 | $52.1k | $26.04 |
| − Vacancy | −$5.5k | −$2.73 |
| EGI | $46.6k | $23.31 |
| − OpEx | −$18.6k | −$9.32 |
| NOI | $28.0k | $13.98 |
2,000 SF · lease $26.04/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$399.5K
$349.6K – $466.1K
NOI $27,967 @ 7.0% cap · market cap 6.99%
Second Best
Office B
$353.6K
$309.4K – $412.6K
NOI $24,754 @ 7.0% cap · market cap 6.19%
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
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FAQs
What type of property is this?
Office units - Two office condo units totaling 2,000 sf are newly remodeled with a new roof, signage, and updated plumbing.
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: 1984‑built commercial condo with 2 office units (condos 3 and 4), 1,000 SF each (2,000 SF total); Newly remodeled with new roof, soffit, fascia, and gutters with warranties; Updated plumbing and new signage
