Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    500 Paul Morris Dr Englewood, FL 34223-3960

    • Industrial land
    • 1.73 lot acres
    OFF-MARKET
    Last Sale
    Feb 10, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8597255
    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

    • Industrial land

    Property Details for 500 Paul Morris Dr

    Lot size
    1.73 lot acres
    Zone code
    PID
    Property type
    Industrial land
    APN
    0849-09-0006
    APU
    849090006

    Description

    This exceptional 1.73-acre industrial land parcel in Englewood, Florida (Sarasota County, zip code 34223, located at 500 Paul Morris Dr) presents a unique investment opportunity. Priced at $625,000, this property boasts a pro-forma cap rate of 9.17% and a pro-forma NOI of $89,628. The lot is already cleared, filled, and raised to exceed county standards, fully fenced with a double-wide sliding gate, and equipped with four FPL LED light posts. Essential utilities, including water and power connections, are already installed and paid for, eliminating significant upfront costs. The property is zoned PID and offers ample parking for 51 vehicles. Building plans for a 10,000 square foot warehouse are available upon request. This turnkey solution is ideal for immediate development, offering significant potential for a variety of industrial uses. The land value is $750,000/SF. This property represents a compelling investment opportunity with strong potential for high returns.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Englewood
    County
    Sarasota
    State
    Florida
    Longitude
    -82.3216
    Latitude
    26.9719
    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
    $3,231
    $272,200
    $0.00
    $272,200
    -
    $272,200
    $0.00
    $272,200

    Comparable in this City

    • Value Estimation by Request
      1.22 Acres

      1455 Floyd Potter Ave

      INDUSTRIAL - VACANT LAND • 1.22 Acres
      1455 Floyd Potter Ave, Englewood, FL 34223-4097
      View Details
    • Value Estimation by Request
      1.16 Acres

      Julie Anne Ct

      INDUSTRIAL - VACANT LAND • 1.16 Acres
      Julie Anne Ct, Englewood, FL 34223
      View Details
    • Value Estimation by Request
      2.00 Acres

      Paul Morris Dr

      INDUSTRIAL - VACANT LAND • 2.00 Acres
      Paul Morris Dr, Englewood, FL 34223
      View Details
    • Value Estimation by Request
      1.02 Acres

      1458 Julie Anne Ct

      INDUSTRIAL - VACANT LAND • 1.02 Acres
      1458 Julie Anne Ct, Englewood, FL 34223-4092
      View Details
    • Value Estimation by Request
      0.93 Acres

      Julie Anne Ct

      INDUSTRIAL - VACANT LAND • 0.93 Acres
      Julie Anne Ct, Englewood, FL 34223
      View Details
    • Value Estimation
      $1,485,000
      6.18 Acres

      101 Paul Morris Dr

      INDUSTRIAL - VACANT LAND • 6.18 Acres
      101 Paul Morris Dr, Englewood, FL 34223-4036
      View Details

    Similar Nearby for Sale

    • $353,409
      50,487 SF

      Englewood Industrial Lots For Sale

      Industrial lots available across from Wellen Park Development in Englewood.
      1455 Julie Anne Ct, Englewood, FL 34223
      View Details
    • $303,779
      43,397 SF

      Englewood Industrial Lots For Sale

      Industrial lots available across from Wellen Park Development.
      576 Rusty Marshall Dr, Englewood, FL 34223
      View Details
    • $373,464
      53,352 SF

      Englewood Industrial Lots For Sale

      Industrial lots available across from Wellen Park Development.
      1455 Floyd Potter Ave, Englewood, FL 34223
      View Details
    • $304,843
      43,549 SF

      Industrial Lots in Sarasota County

      Lowest priced industrial lots, near Wellen Park Development.
      578 Rusty Marshall Dr, Englewood, FL 34223
      View Details
    • $358,498
      51,214 SF

      Englewood Industrial Lots For Sale

      Industrial lots available across from Wellen Park Development.
      1456 Floyd Potter Ave, Englewood, FL 34223
      View Details
    • $299,544
      42,792 SF

      Industrial Lots Near Wellen Park

      Industrial land available near Wellen Park development in Sarasota County.
      568 Rusty Marshall Dr, Englewood, FL 34223
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Englewood Land Parcel For Rent

      Land parcel available for rent in Englewood, Florida.
      555 Rusty Marshall Dr, Englewood, FL 34223
      View Details
    • $13 SF/Yr
      22,091 SF

      Englewood Retail/Medical Space For Rent

      Highly visible retail or medical space on a major commercial corridor.
      612 N Indiana Ave, Englewood, FL 34223
      View Details
    • $13 SF/Yr
      3,200 SF

      Englewood Shopping Center Retail Space

      Retail space available in a busy Englewood shopping center.
      1720 S Mccall Rd, Englewood, FL 34223
      View Details
    • $1,308 /Mo
      3,561 SF

      Englewood Office Space For Rent

      Flexible office spaces with shared amenities in a professional building.
      473 S Indiana Ave, Englewood, FL 34223
      View Details
    • New
      $1,500 /Mo
      900 SF

      Retail Space in Englewood, FL

      Retail space with high traffic exposure in Englewood, Florida.
      1221 S Mccall Rd, Englewood, FL 34223
      View Details
    • $20 SF/Yr
      4,156 SF

      Englewood Retail Space Available

      Retail space available for lease in Englewood, Florida.
      2 Buchans Lndg, Englewood, FL 34223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    500 Paul Morris Dr
    Englewood, FL 34223-3960
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.