Englewood Commercial Condos Investment
406 North Indiana Avenue Suite 3 & 4 Englewood, FL 34223
406 North Indiana Avenue Suite 3 & 4, Englewood, FL, 34223
$400,000
For Sale
$400,000
Two commercial condo units for sale, fully leased, remodeled.
Property Size2,000 SF
Price / SF$200
Days on Market113
Property Features for 406 North Indiana Avenue Suite 3 & 4
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Office
Building Details
- Year Built
- 1984
Listing agency
MICHAEL SAUNDERS & COMPANY
(941) 769-2222
Listed by
Tammy Shaw · License #FL #BK3336061
(941) 769-2222
Source
Tcnworldwide
Added: Apr 1 Updated: Jul 10 at 3:55PM Checked: Jul 22 at 5:13AM
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 (2000 square feet total) or individually (1000 square feet each). Both units are currently leased, with the option for owner-user occupancy in one. The property has been newly remodeled, featuring a new roof, soffit, facial, and gutters with warranties, along with new signage and updated plumbing. The condos, units 3 and 4 of the Plaza, offer ample on-site parking. Situated on the north side of Englewood (Sarasota County) along the main state route 776, the location is suitable for medical, office, or retail use in a beachfront community. The building is in good condition and features new resurfacing and stripping. The location on main route 776 provides adequate ingress and egress. The property offers income from both units, with one unit having an owner-user option.
Key Highlights
- Fully leased investment property with option for owner/user to occupy one unit.
- Newly remodeled with new roof, soffit, fascia, gutters (with warranties), signage, and updated plumbing.
- Located on main state route 776 in a desirable area for medical/office/retail in a beach front community.
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
Property Profile
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 for sale, fully leased, remodeled.
Where is this office units located?
The property is located at 406 North Indiana Avenue Suite 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: Fully leased investment property with option for owner/user to occupy one unit.; Newly remodeled with **new roof, soffit, fascia, gutters (with warranties), signage, and updated plumbing.**; Located on main state route 776 in a desirable area for medical/office/retail in a beach front community.
