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    Property profile & analytics

    976 S River Rd Englewood, FL 34223

    • Warehouses
    • 16,000 SF
    • 1.10 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Oct 12, 2021
    $990,000
    Value Estimations
    $1,315,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2431843
    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

    • Warehouses

    Property Details for 976 S River Rd

    Year built
    1980
    Lot size
    1.10 lot acres
    Property size
    16,000 SF
    Zone code
    ILW
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    0850-05-0013
    APU
    850050013

    Description

    This exceptional 9-unit flex warehouse complex, located at 976 S River Rd, Englewood, FL 34223, presents a compelling investment opportunity. The property boasts a total of 16,000 square feet of versatile industrial space, situated on a generous 47,916 square foot lot. Currently, one 2,000 square foot unit is available for lease. Built in 1980, the property is zoned ILW and features a multi-tenant occupancy. The address is conveniently located in Sarasota County, Florida. The property's substantial size and flexible space make it ideal for a variety of businesses requiring warehouse and/or flex space. Its location in Englewood offers easy access to major transportation routes and amenities. The property's 1980 construction provides a solid foundation for future growth and adaptation. The ample lot size offers potential for expansion or future development. This is a rare opportunity to acquire a well-situated industrial property in a thriving Florida market. The property's Sarasota County location and ILW zoning provide a stable and attractive investment profile. The available unit presents immediate income potential, while the remaining units offer long-term rental income opportunities. The property's size and location make it an excellent choice for investors seeking a strong return on investment. The parcel number is 0850050013.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,335,000
      ML approach
      $1,200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $879,000
      Market price range: $803k - $1.94M

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

    Location Insight

    • Map
    • Local Demand
    City
    Englewood
    County
    Sarasota
    State
    Florida
    Longitude
    -82.3319
    Latitude
    26.9667
    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
    $16,927
    $219,700
    $725,600
    $945,300
    -
    $219,700
    $725,600
    $945,300

    Comparable in this City

    • Value Estimation
      $925,000
      80,850 SF

      540 Indiana Ave

      MINI-WAREHOUSE, STORAGE • 80,850 SF
      540 Indiana Ave, Englewood, FL 34223-2704
      View Details
    • Value Estimation
      $265,000
      4,000 SF

      858 Riv Rd

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      858 Riv Rd, Englewood, FL 34223-5208
      View Details
    • Value Estimation
      $200,000
      8,880 SF

      868 Riv Rd

      MINI-WAREHOUSE, STORAGE • 8,880 SF
      868 Riv Rd, Englewood, FL 34223-3981
      View Details
    • Value Estimation
      $3,910,000
      8,130 SF

      720 Indiana Ave

      MINI-WAREHOUSE, STORAGE • 8,130 SF
      720 Indiana Ave, Englewood, FL 34223-2708
      View Details
    • Value Estimation
      $290,000
      5,151 SF

      221 Langsner St

      MINI-WAREHOUSE, STORAGE • 5,151 SF
      221 Langsner St, Englewood, FL 34223-3275
      View Details
    • Value Estimation
      $560,000
      2,700 SF

      30 Mango St

      MINI-WAREHOUSE, STORAGE • 2,700 SF
      30 Mango St, Englewood, FL 34223-3241
      View Details

    Similar Nearby for Sale

    • $190,000

      Englewood Warehouse/Flex Space For Sale

      Warehouse/flex space in Morris Industrial Park with roll-up door.
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      View Details
    • $175,525
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      Englewood Warehouse Condo - $175K

      1,003 SF refrigerated warehouse condo with amazing views.
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    • $247,796

      Englewood Industrial Lot - $247K

      Prime 43,095 SF industrial lot in Englewood, FL.
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    • $290,300

      Englewood Industrial Lot - $290,300

      Prime 50,487 SF industrial lot in Englewood, FL.
      1455 Julie Anne Ct, Englewood, FL 34223
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    • $320,112

      Englewood Industrial Lot - $320K

      Prime 53K SF Industrial Land, Englewood, FL
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    • $1,295,000

      Industrial Building Near Wellen Park

      6355 SF commercial building with industrial zoning for sale.
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,000 SF

      Englewood Flex Warehouse Space

      2,000 SF flex warehouse space available for lease.
      976 S River Rd, Englewood, FL 34223
      View Details
    • $16 SF/Yr
      9,164 SF

      Englewood Medical Office Suites

      Three renovated suites available, ideal for medical practices.
      2061 Englewood Rd, Englewood, FL 34223
      View Details
    • $1,800 /Mo
      1,215 SF

      Commercial Space in High-Traffic Area

      High-visibility commercial space with ample parking in a prime location.
      1075 S Mccall Rd, 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
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    976 S River Rd
    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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