500 Paul Morris DrEnglewood, FL 34223

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.

• 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

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