500 Paul Morris DrEnglewood, FL 34223

  • Industrial land
  • 1.73 AC
For Sale
$625,000 View listing

Property Details for 500 Paul Morris Dr

Lot size
1.73 AC
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $44,577,900
    6.5%
    $41,148,900
    7%
    $38,209,700
  • Comparable approach

    Method
    Valuation
    Relative Method
    $24,222,700
    Geo Method
    $22,051,800
  • Alternative Use

    Use
    Valuation
    Retail / Commercial
    $21,116,800
    Mixed-Use / Specialty
    $21,054,100
    Hospitality / Lodging
    $15,463,000
    Office
    $20,942,000
    Institutional / Educational
    $21,892,200
    Residential Income
    $25,613,900
    Multifamily
    $30,650,500
    Automotive / Energy
    $18,764,800
    Parking / Income-Based Land
    $6,463,120
    Restaurant / Food Service
    $10,977,100
    Healthcare / Senior Housing
    $21,577,700

Location Insight

City
Englewood
County
Sarasota
State
Florida
Latitude
26.9719
Longitude
-82.3216
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
-
$272,200
-
$272,200
-
$272,200

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