Multi-Tenant Office/Warehouse
For Sale
$2,000,000
112-5508 Benchmark Ln, Sanford, FL 32773
Multi-tenant flex building with office space, ample parking, and 16 drive-in bays on a fully fenced lot.
Property Size10,898 SF
Price / SF$183.52
Days on Market80
Property Features for 112-5508 Benchmark Ln
General Information
Standard status
Active
Size
10,898 SF
Taxes and HOA fees
Annual Taxes
$9,263
Listing Agency:
COMMERCIAL REAL ESTATE PROF IN
(407) 737-9797
Listed By:
Mark Allen
(407) 737-9797
Source:
Exprealty
Added: Jun 11
Changed: Aug 20
Last Checked: Aug 28 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMMERCIAL REAL ESTATE PROF IN
Investment Insights
Based on property information with market context.
This M1-zoned, multi-tenant office/warehouse flex building offers a combination of office and warehouse functionality in one property. The site is fully fenced and includes ample parking to support tenant and customer access. Warehouse operations are supported by 16 drive-in bays.
The property is located in an industrial area of Sanford, Florida, with easy access to N. Ronald Reagan Blvd, Hwy 17, and State Road 419. The combination of highway connectivity and on-site parking helps accommodate daily traffic needs for a variety of industrial and light commercial users.
As a flex configuration, the building can be suitable for tenants that need both operational warehouse space and dedicated office space, while also benefiting from multiple drive-in access points for loading and deliveries. The fully fenced yard and drive-in bays make it practical for logistics, distribution, and service-oriented industrial uses that rely on direct vehicle access.
The property is located in an industrial area of Sanford, Florida, with easy access to N. Ronald Reagan Blvd, Hwy 17, and State Road 419. The combination of highway connectivity and on-site parking helps accommodate daily traffic needs for a variety of industrial and light commercial users.
As a flex configuration, the building can be suitable for tenants that need both operational warehouse space and dedicated office space, while also benefiting from multiple drive-in access points for loading and deliveries. The fully fenced yard and drive-in bays make it practical for logistics, distribution, and service-oriented industrial uses that rely on direct vehicle access.
Key Highlights
- M1 zoned multi‑tenant office/warehouse flex building on a 1.00‑acre fully fenced lot
- Over 10,898 SF total building size
- Industrial‑area location with easy access to N. Ronald Reagan Blvd, Hwy 17, and State Road 419
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
$73,924
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
3.70%
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%
$1,478,480
$1.5M
Cap Rate 7%
$1,056,057
$1.1M
Cap Rate 9%
$821,378
$821.4K
Market Conditions
NOI Build-Up for 10,898 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
$95.5K $8.76/SF
− Vacancy
−$8.5K −$0.78/SF
EGI
$87.0K $7.98/SF
− OpEx
−$13.0K −$1.20/SF
NOI
$73.9K $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%
$1,478,480
Cap Rate 7%
$1,056,057
Cap Rate 9%
$821,378
Alternative Uses
Best Use
Warehouse
$1.06M
$924.1K – $1.23M
NOI $73,924 @ 7.0% cap · market cap 3.70%
Second Best
Industrial
$869.7K
$761.0K – $1.01M
NOI $60,879 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,088 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32773, FL
33,990
Population
13,402
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
1,232
Density / Sq Mi
$63,496
Median Household Income
$40,479
Median Earnings
$1,482
Median Rent
$259,600
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.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant flex building with office space, ample parking, and 16 drive-in bays on a fully fenced lot.
Where is this flex space located?
The property is located at 112-5508 Benchmark Ln Sanford, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: M1 zoned multi‑tenant office/warehouse flex building on a 1.00‑acre fully fenced lot; Over 10,898 SF total building size; Industrial‑area location with easy access to N. Ronald Reagan Blvd, Hwy 17, and State Road 419
