Three-Unit Office
For Sale
$975,000
501 S Indiana Ave, Englewood, FL 34223
Corner-lot office asset with flexible suites, dedicated parking, and OPI zoning for professional business uses.
Property Size4,851 SF
Price / SF$200.99
Days on Market41
Property Features for 501 S Indiana Ave
General Information
Standard status
Active
Size
4,851 SF
Total Parking Spaces
31
Zoning
OPI
Additional Details
Office Units
3
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
COMPASS FLORIDA
(941) 205-8478
Listed By:
Brian Helgemo · License #274501399
Source:
Livewelltampabay
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:03AM
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 COMPASS FLORIDA
Investment Insights
Based on property information with market context.
This 4,851-square-foot office property contains three suites within a building constructed in 1986. Suite A measures approximately 1,700 SF and includes reception, four private offices, an equipment room, break room, conference room, and two restrooms; it is currently leased to a long-term tenant. Suite B offers approximately 600 SF with front and rear office areas, an office/mailroom, and a kitchen. Suite C encompasses approximately 1,900 SF with reception, administrative, conference, storage, copier, open workspace, three cubicles, two private offices, and two restrooms. Suites B and C were most recently occupied together.
The property occupies a prominent corner parcel at 501 S Indiana Ave in Englewood, Florida. It is zoned OPI (Office, Professional, Institutional) and provides 31 parking spaces, including two ADA-compliant spaces. Access is available from both northbound and southbound routes along the surrounding commercial corridor.
The property occupies a prominent corner parcel at 501 S Indiana Ave in Englewood, Florida. It is zoned OPI (Office, Professional, Institutional) and provides 31 parking spaces, including two ADA-compliant spaces. Access is available from both northbound and southbound routes along the surrounding commercial corridor.
Key Highlights
- 4,851 SF office property with three suites
- OPI (Office, Professional, Institutional) zoning
- 31 parking spaces, including two ADA‑compliant spaces
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
$60,040
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
6.16%
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%
$1,200,800
$1.2M
Cap Rate 7%
$857,714
$857.7K
Cap Rate 9%
$667,111
$667.1K
Market Conditions
NOI Build-Up for 4,851 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
$104.8K $21.60/SF
− Vacancy
−$24.7K −$5.10/SF
EGI
$80.1K $16.50/SF
− OpEx
−$20.0K −$4.13/SF
NOI
$60.0K $12.38/SF
Area
Charlotte County, FL
Vacancy
23.60%
Lease Rate
$21.60 /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%
$1,200,800
Cap Rate 7%
$857,714
Cap Rate 9%
$667,111
Alternative Uses
Best Use
Office B
$857.7K
$750.5K – $1.00M
NOI $60,040 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,185 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Corner-lot office asset with flexible suites, dedicated parking, and OPI zoning for professional business uses.
Where is this office units located?
The property is located at 501 S Indiana Ave Englewood, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,851 SF office property with three suites; OPI (Office, Professional, Institutional) zoning; 31 parking spaces, including two ADA‑compliant spaces
