Renovated Warehouse with Dock
For Sale
$6,937,000
Pending
1356 BENNETT Drive, Longwood, FL 32750
Commercial Sale, LONGWOOD, FL
Property Size46,560 SF
Lot Size2.38 Acres
Days on Market733
Property Features for 1356 BENNETT Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Security features
Security Lighting
Lot features
Industrial Park, Near Public Transit, Paved
Directions
South Ronald Reagan Blvd and North Street, Left onto North Street, Right onto Bennett Drive, property will be on your right.
Subdivision
32750 - Longwood East
Standard status
Pending
APN
01-21-29-5CK-750E-0001
Size
46,560 SF
Lot size
2.38 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LEG S 171.50 FT OF N 226.40 FT OF E 636 FT OF BLK E TRACT 75 SANLANDO SPRINGS PB 7 PG 2
Tax Annual Amount
39000
Legal Description
LEG S 171.50 FT OF N 226.40 FT OF E 636 FT OF BLK E TRACT 75 SANLANDO SPRINGS PB 7 PG 2
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Amenities
board meeting room
pantry
Building Details
Year built
1984
Flooring type
Concrete, Tile
Building materials
Metal Frame, Metal Siding
Roof type
Metal
Listing Agency:
CREEGAN GROUP
(407) 622-1111
Listed By:
Chris Creegan · License #3168853
(407) 622-1111
Added: Aug 27, 2024
Changed: Aug 19
Last Checked: Aug 29 at 5:06PM
MLS# O6236306
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 46,560-square-foot warehouse at 1356 Bennett Drive includes 11 offices, a 2,000-square-foot showroom, a 300-square-foot board meeting room, and 600 square feet of under-air storage. The building has 18-foot-plus ceilings, 40-by-30-foot column spacing, seven bathrooms, four dock-high doors, and two additional loading positions with a ramp and roll-up door. Four tenants currently occupy the property.
Built in 1984 and 1987, the facility received major renovations in 2008 and 2018. More recent work includes LED warehouse and overhead lighting, updated office and showroom flooring, ceiling tiles, bathroom fixtures, a pantry, paving and striping, gutters, landscaping, and underground stormwater piping. A fully fenced approximately 0.35-acre rear yard provides truck maneuvering space, while accessible ramps and stairs serve both the front and rear entrances.
The property is zoned IND and has public water and public sewer. It is located near UPS, FedEx, US 17/92, SR 434, SR 436, and I-4.
Built in 1984 and 1987, the facility received major renovations in 2008 and 2018. More recent work includes LED warehouse and overhead lighting, updated office and showroom flooring, ceiling tiles, bathroom fixtures, a pantry, paving and striping, gutters, landscaping, and underground stormwater piping. A fully fenced approximately 0.35-acre rear yard provides truck maneuvering space, while accessible ramps and stairs serve both the front and rear entrances.
The property is zoned IND and has public water and public sewer. It is located near UPS, FedEx, US 17/92, SR 434, SR 436, and I-4.
Key Highlights
- 46,560‑square‑foot warehouse on 2.38 acres
- Four dock‑high doors plus 2 loading positions with ramp and roll‑up door
- 18‑foot +/- ceiling height with 40'x30' column spacing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$315,831
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,316,620
$6.3M
Cap Rate 7%
$4,511,871
$4.5M
Cap Rate 9%
$3,509,233
$3.5M
Market Conditions
NOI Build-Up for 46,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$407.9K $8.76/SF
− Vacancy
−$36.3K −$0.78/SF
EGI
$371.6K $7.98/SF
− OpEx
−$55.7K −$1.20/SF
NOI
$315.8K $6.78/SF
Area
Seminole County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,316,620
Cap Rate 7%
$4,511,871
Cap Rate 9%
$3,509,233
Alternative Uses
Best Use
Warehouse
$4.51M
$3.95M – $5.26M
NOI $315,831 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.25M
$11.59M – $15.46M
NOI $927,475 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
4
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32750, FL
25,261
Population
10,541
Households
2.4
Avg Household Size
43
Median Age
37%
College-Educated
93%
High-School Grad
11.4 sq mi
ZIP Area
2,216
Density / Sq Mi
$85,227
Median Household Income
$48,311
Median Earnings
$1,633
Median Rent
$350,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Warehouse Location — 1355 Bennett Dr #233, Longwood, FL 32750
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-tenant industrial facility with offices, showroom, fenced yard, and loading infrastructure.
Where is this warehouse located?
The property is located at 1356 BENNETT Drive Longwood, FL.
What is the asking price?
The asking price for this property is $6,937,000.
What are key features of this property?
This property features: 46,560‑square‑foot warehouse on 2.38 acres; Four dock‑high doors plus 2 loading positions with ramp and roll‑up door; 18‑foot +/- ceiling height with 40'x30' column spacing
