Medical Complex with Income
655 N Indiana Avenue Englewood, FL 34223
For Sale
$1,350,000
9,698 SF medical complex on 0.95 acres for sale.
Property Size9,698 SF
Lot Size0.95 Acres
Price / SF$139.20
Days on Market428
Property Features for 655 N Indiana Avenue
General Information
Standard status
Active
Size
9,698 SF
Lot size
0.95 Acres
Property subtype
OFC, OFC-MED
Building Details
Year Built
1991
Listing Agency:
Asset and Key
(727) 625-1100
Listed By:
Bradley Meinck
(727) 625-1100
Source:
Realnex
Added: May 29, 2025
Changed: Jul 10
Last Checked: Jul 10 at 3:54PM
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 Asset and Key
Investment Insights
Based on property information with market context.
This commercial property features a 9,698-square-foot building on 0.95 acres. It is zoned OPI (Office, Professional, or Institutional), allowing for mixed-use and various other applications. The property is currently configured as a medical complex. The owner occupies 3,472 square feet of medical office space and will vacate upon closing. A tenant occupies the remaining 5,266-square-foot building, providing income potential. Additionally, there is a garage behind the medical office that could be used by the owner or leased for additional income. A new roof is scheduled for installation in 2025.
Key Highlights
- Owner‑user medical complex with existing tenant income to offset costs
- 9,698 sq ft building on .95 acre
- OPI zoning allows for various uses, including mixed‑use
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 | $209.5k | $21.60 |
| − Vacancy | −$49.4k | −$5.10 |
| EGI | $160.0k | $16.50 |
| − OpEx | −$40.0k | −$4.13 |
| NOI | $120.0k | $12.38 |
9,698 SF · lease $21.60/SF/yr · vacancy 23.60% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$1.94M
$1.70M – $2.26M
NOI $135,612 @ 7.0% cap · market cap 10.05%
Second Best
Office B
$1.71M
$1.50M – $2.00M
NOI $120,030 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$3.18M
$2.78M – $3.70M
NOI $222,278 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Englewood Animal Hospital — 340 N Indiana Ave, Englewood, FL 34223
- Gilkison Janis DVM — 340 N Indiana Ave, Englewood, FL 34223
Frequently Asked Questions
What type of property is this?
Medical Office Space - 9,698 SF medical complex on 0.95 acres for sale.
Where is this medical office space located?
The property is located at 655 N Indiana Avenue Englewood, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Owner‑user medical complex with existing tenant income to offset costs; 9,698 sq ft building on .95 acre; OPI zoning allows for various uses, including mixed‑use
