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Property profile & analytics
OFF-MARKET Estimated value $1,900,000
Warehouses

4515 Northgate Ct Sarasota, FL 34234-2124

5,950 SF 0.54 ac lot Built 1995
Entity Owned 6-yr Hold Absentee Owner Free & Clear
Property ID
US18-2937460
Property summary
AI-generated overview

This exceptional Northgate flex space offers 12,160 square feet of versatile industrial space, ideally suited for a variety of businesses. The property comprises two single-story buildings, constructed in 1995 and extensively renovated in 2023, ensuring modern amenities and functionality. The space is currently divided into 30 individual suites, with a minimum divisible space of 1,500 square feet and a total of 3,000 square feet currently vacant. Seven convenient drive-in bays provide easy access for loading and unloading. The property is classified as Class B and is zoned CI, offering flexibility for various commercial uses. The property's Asset Property Number (APN) is 0026010012. This multi-tenant property presents a unique opportunity for businesses seeking a well-maintained, conveniently located industrial space. The recent renovations ensure modern infrastructure and efficient operations. The available space is highly adaptable, making it suitable for a range of businesses needing flexible layouts. With its strategic location in Northgate and ample parking, this property offers a compelling combination of functionality and accessibility. The minimum leasable space is 1,500 square feet, while a larger contiguous block of 3,000 square feet is currently available. This presents a rare opportunity to secure a well-maintained and updated industrial space in a desirable location.

Property profile
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1995
Total area 5,950 SF
Lot 0.54 ac (23,451 SF)
Zoning code CI
APN 0026-01-0013
UPID US18-2937460
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Siesta Pops Bakery Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.90M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.90M
Owner & transaction history
Elx Warehouse Holdings LLC · 6 yrs held
Elx Warehouse Holdings LLC
since 2019
Last sale
$1.9M
4 recorded transactions
2019
$100
2015
$725,000
2012
Price N/A
2008
Price N/A
Zoning & alternative use
CI · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The intent and purpose of the CI district is to permit and facilitate the proper development of high intensity commercial development

Zone name Commercial Intensive
General category COMMERCIAL
Zone area 91.35 ac
Source Realmo
Top alternative use upside
Auto repair, garage $2.6M +155.9%
Office building $2.4M +139.2%
Medical building $2.4M +131.5%
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