Flex Space with Office and
For Sale
$450,000
517 PAUL MORRIS DR #C-2 and C-4, Englewood, FL 34223
Two commercial condominium units combine office, storage, workspace, and a garage bay for varied business operations.
Property Size2,414 SF
Days on Market74
Property Features for 517 PAUL MORRIS DR #C-2 and C-4
General Information
Standard status
Active
Size
2,414 SF
Property subtype
Industrial
Warehouse & Industrial
Drive-In Doors
1
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,937
Building Details
Building Size
2,414 SF
Year Built
1985
Listing Agency:
RE/MAX ALLIANCE GROUP
Listed By:
Carla Stiver, PA · License #3039882
(941) 270-1460
Source:
Nixandassociates
Added: Aug 4
Changed: Oct 11
Last Checked: Oct 15 at 7:42AM
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 RE/MAX ALLIANCE GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex-space offering includes commercial condominium Units C-2 and C-4, sold together within Paul Morris Industrial Park. The combined layout includes reception and foyer areas, private offices, meeting or work areas, shelving, counters, storage, and a garage bay. Unit C-4 also has unfinished upper-level storage, while Unit C-2 provides an open work area and a private office. One HVAC system serves the office areas, and the property includes three-phase electric service, gutters and downspouts, smoke detectors, and a newer roof. The building was constructed in 1985.
The property sits just off River Road with access to SR-776, US-41, and Interstate 75. Its location provides connectivity among Englewood, Venice, North Port, and Port Charlotte, with Wellen Park also nearby. The combination of office, warehouse, storage, and garage functionality supports a range of professional, contractor, service, light industrial, and investment uses identified for the property.
The property sits just off River Road with access to SR-776, US-41, and Interstate 75. Its location provides connectivity among Englewood, Venice, North Port, and Port Charlotte, with Wellen Park also nearby. The combination of office, warehouse, storage, and garage functionality supports a range of professional, contractor, service, light industrial, and investment uses identified for the property.
Key Highlights
- Two commercial condominium units, C‑2 and C‑4, offered together
- Unit C‑2 includes a garage bay with an approximately 10‑foot wide by 8‑foot tall roll‑up door
- Three‑phase electric service supports the property’s commercial configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,878
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,560
$597.6K
Cap Rate 7%
$426,829
$426.8K
Cap Rate 9%
$331,978
$332.0K
Market Conditions
NOI Build-Up for 2,414 SF
Gross rent
$52.1K $21.60/SF
− Vacancy
−$12.3K −$5.10/SF
EGI
$39.8K $16.50/SF
− OpEx
−$10.0K −$4.13/SF
NOI
$29.9K $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 Rate 5%
$597,560
Cap Rate 7%
$426,829
Cap Rate 9%
$331,978
Alternative Uses
Best Use
Office B
$426.8K
$373.5K – $498.0K
NOI $29,878 @ 7.0% cap · market cap 6.64%
Second Best
Warehouse
$323.6K
$283.2K – $377.6K
NOI $22,653 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$790.4K
$691.6K – $922.2K
NOI $55,329 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
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
Frequently Asked Questions
What type of property is this?
Flex space - Two commercial condominium units combine office, storage, workspace, and a garage bay for varied business operations.
Where is this flex space located?
The property is located at 517 PAUL MORRIS DR #C-2 and C-4 Englewood, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two commercial condominium units, C‑2 and C‑4, offered together; Unit C‑2 includes a garage bay with an approximately 10‑foot wide by 8‑foot tall roll‑up door; Three‑phase electric service supports the property’s commercial configuration
