Sarasota Industrial Property with Outside
For Sale
Contact for pricing
1227 Hardin Ave, Sarasota, FL 34243
Multi-building industrial property with heavy power and outside storage.
Property Size40,496 SF
Lot Size3.35 Acres
Price / SF$127.17
Days on Market205
Property Features for 1227 Hardin Ave
General Information
Standard status
Active
Size
40,496 SF
Lot size
3.35 Acres
Property subtype
Industrial
Zoning
LM
Building Details
Buildings
2
Stories
1
Listing Agency:
American Property Group of Sarasota Inc
(941) 923-0535
Listed By:
Brian Seidel · License #FL 3123085
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 2:38PM
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 American Property Group of Sarasota Inc
Investment Insights
Based on property information with market context.
This multi-building industrial property offers approximately 40,496 square feet of space on approximately 3.354 acres. It features substantial building area, heavy power, extensive loading capabilities, and approximately 1.1 acres of outside storage. The property is strategically located just north of Sarasota–Bradenton International Airport (SRQ), providing excellent regional connectivity for distribution, logistics, and manufacturing purposes. The site includes a single-story warehouse with multiple overhead doors, both dock-high and grade-level loading options, ample parking, and asphalt-paved drives and loading areas. Zoned LM with future land use designated IL, the property offers flexibility for a wide range of industrial users.
Key Highlights
- Substantial Building Area: ±40,496 SF combined building area provides ample space for operations.
- Extensive Loading: Multiple overhead doors, dock‑high and grade‑level loading facilitate efficient logistics.
- Outside Storage: Approximately ±1.1 acres of outside storage (IOS) caters to businesses requiring outdoor space.
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
$413,687
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
8.03%
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%
$8,273,740
$8.3M
Cap Rate 7%
$5,909,814
$5.9M
Cap Rate 9%
$4,596,522
$4.6M
Market Conditions
NOI Build-Up for 40,496 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
$505.4K $12.48/SF
− Vacancy
−$18.7K −$0.46/SF
EGI
$486.7K $12.02/SF
− OpEx
−$73.0K −$1.80/SF
NOI
$413.7K $10.22/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /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%
$8,273,740
Cap Rate 7%
$5,909,814
Cap Rate 9%
$4,596,522
Alternative Uses
Best Use
Warehouse
$5.91M
$5.17M – $6.89M
NOI $413,687 @ 7.0% cap · market cap 8.03%
Second Best
Industrial
$4.87M
$4.26M – $5.68M
NOI $340,683 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$11.91M
$10.42M – $13.89M
NOI $833,602 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Multi-building industrial property with heavy power and outside storage.
Where is this industrial property located?
The property is located at 1227 Hardin Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: Substantial Building Area: **±40,496 SF combined building area provides ample space for operations.**; Extensive Loading: **Multiple overhead doors, dock‑high and grade‑level loading facilitate efficient logistics.**; Outside Storage: Approximately ±1.1 acres of outside storage (IOS) caters to businesses requiring outdoor space.
