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    Property profile & analytics

    473 S Indiana Ave Englewood, FL 34223

    • Office buildings
    • 3,287 SF
    • 0.45 lot acres
    For Lease
    View listing
    $1,308 /Mo
    Last Sale
    Jul 03, 2025
    $1,133,000
    Value Estimations
    $820,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1371193
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 473 S Indiana Ave

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.45 lot acres
    Property size
    3,287 SF
    Zone code
    CG
    Property type
    Office buildings
    APN
    0853-13-0002
    APU
    853130002

    Description

    This exceptional 3,287 square foot free-standing office building presents a unique investment opportunity in the heart of Englewood, Florida. Situated on a 0.45-acre outparcel within a centrally located shopping center on State Road 776 (Indiana Avenue), this property boasts a prime location and high visibility. Previously used as a bank, medical office, and most recently a real estate office, the building is beautifully finished and ready for immediate occupancy. The interior features an oversized reception and waiting area, ample space for multiple workstations, and five individual offices, each equipped with a common sound system, telephone outlets, and internet hookups. Water and utility sinks are readily restorable in all offices. Two large file storage rooms provide ample storage, complemented by an additional 300 square feet of storage on the second floor. A full kitchen and break room, along with a large storage room with exterior access, add to the building's functionality. The property benefits from upgraded lighted signage on two sides of the building, including a double-sided, lighted sign facing the road, ensuring maximum visibility. Ample parking is available with 15 designated spaces, additional parking behind the building, and numerous non-designated spaces within the shopping center. Automatic front entrance and exit doors add to the convenience. All systems are fully functional. The property is zoned CG, allowing for direct sales. This is a truly attractive office building in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $850,000
      6.5%
      $785,000
      7%
      $730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $989,000
      Market price range: $520k - $1.38M
      AI Estimate
      $631,000
      Market price range: $318k - $906k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $975,000
      Current use
      MEDICAL BUILDING
      $1,260,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $925,000
      Change: -5% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Englewood
    County
    Sarasota
    State
    Florida
    Longitude
    -82.3527
    Latitude
    26.9542
    CBSA code
    35840
    CBSA name
    NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,039
    $170,500
    $302,300
    $472,800
    -
    $170,500
    $302,300
    $472,800

    Comparable in this City

    • Value Estimation by Request
      2,466 SF

      1505 Mccall Rd

      PROFESSIONAL BUILDING • 2,466 SF
      1505 Mccall Rd, Englewood, FL 34223-4876
      View Details
    • Value Estimation
      $1,090,000
      2,604 SF

      684 Indiana Ave

      PROFESSIONAL BUILDING • 2,604 SF
      684 Indiana Ave, Englewood, FL 34223-3706
      View Details
    • Value Estimation
      $1,600,000
      7,330 SF

      579 Indiana Ave

      OFFICE BUILDING • 7,330 SF
      579 Indiana Ave, Englewood, FL 34223-3751
      View Details
    • Value Estimation
      $995,000
      4,542 SF

      359 Dearborn St

      OFFICE BUILDING • 4,542 SF
      359 Dearborn St, Englewood, FL 34223-3156
      View Details
    • Value Estimation by Request
      580 SF

      300 Dearborn St

      OFFICE BUILDING • 580 SF
      300 Dearborn St, Englewood, FL 34223-3146
      View Details
    • Value Estimation
      $620,000
      2,730 SF

      75 Dearborn St

      PROFESSIONAL BUILDING • 2,730 SF
      75 Dearborn St, Englewood, FL 34223-3234
      View Details

    Similar Nearby for Sale

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      Medical Complex with Income Potential

      Medical complex for sale with income opportunity in Englewood, FL.
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    Similar Nearby for Lease

    • $16 SF/Yr
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      Englewood Medical Office Suites

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      Englewood Retail/Medical Space For Rent

      Highly visible retail or medical space on a major commercial corridor.
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    • $1,308 /Mo
      3,561 SF

      Englewood Office Space For Rent

      Flexible office spaces with shared amenities in a professional building.
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    • $1,500 /Mo
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      ENGLEWOOD, FL Retail Space

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    • $4,000 /Mo
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      Customizable Englewood Office Space

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    • $16 SF/Yr
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      Englewood Medical Office Building

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    473 S Indiana Ave
    Englewood, FL 34223
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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