Industrial Warehouse with
For Sale
$6,937,000
Pending
1356 BENNETT DRIVE, Longwood, FL 32750
Updated industrial warehouse with dock-high loading, fenced yard, and office/showroom improvements for flexible tenant use.
Property Size46,560 SF
Lot Size2.50 Acres
Days on Market736
Property Features for 1356 BENNETT DRIVE
General Information
Standard status
Pending
Size
46,560 SF
Lot size
2.50 Acres
Property subtype
Industrial
Zoning
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
6
Additional Details
Office Units
11
Taxes and HOA fees
Annual Taxes
$39,000
Building Details
Building Size
46,560 SF
Year Built
1984
Year Renovated
2018
Tenancy
Multi
Listing Agency:
CREEGAN GROUP
(407) 622-1111
Listed By:
Chris Creegan · License #3168853
(407) 622-1111
Source:
Rockmelinvestments
Added: Aug 27, 2024
Changed: Aug 21
Last Checked: Aug 31 at 12:40PM
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 CREEGAN GROUP
Investment Insights
Based on property information with market context.
This updated, super-clean industrial warehouse offers a combination of warehouse space and built-out office amenities. The building includes 11 offices, a 2,000 SF showroom, a 300 SF board meeting room, and a 600 SF under-air storage area. Office interiors feature 10-foot ceilings, and the property provides seven bathrooms, including a full bathroom with shower within the office area. Warehouse lighting upgrades include LED motion detection warehouse lighting and newly installed LED overhead lighting, along with new interior floors in the office and showroom areas, modern ceiling tiles, and updated bathroom fixtures. Exterior improvements include recently paved and striped parking, new gutters, underground piped rainwater run-off, refreshed landscaping, and accessible ramps with stairs leading to the property at both the front and rear. The building was constructed in 1984 and 1987 and underwent major renovations in 2008 and 2018.
The property sits on 2.5 acres and provides excellent frontage on Bennett Drive with ample parking in front and rear of the building. Dock loading includes four dock-high doors, plus an additional two doors served by a loading ramp and roll-up door. The fenced yard behind the building is approximately 0.35 acres and is sized to accommodate a semi-truck turnaround. The warehouse column spacing is 40' x 30', with ceiling height of approximately 18' +/-.
Designed for industrial and logistics tenants, the site offers functional loading, substantial yard space, and dedicated office and meeting space in one property. The current setup is tenant occupied by four tenants, and there is room to increase square footage for future tenants depending on whether an occupant needs part of the space or is purchasing as an investment. The property is zoned industrial.
The property sits on 2.5 acres and provides excellent frontage on Bennett Drive with ample parking in front and rear of the building. Dock loading includes four dock-high doors, plus an additional two doors served by a loading ramp and roll-up door. The fenced yard behind the building is approximately 0.35 acres and is sized to accommodate a semi-truck turnaround. The warehouse column spacing is 40' x 30', with ceiling height of approximately 18' +/-.
Designed for industrial and logistics tenants, the site offers functional loading, substantial yard space, and dedicated office and meeting space in one property. The current setup is tenant occupied by four tenants, and there is room to increase square footage for future tenants depending on whether an occupant needs part of the space or is purchasing as an investment. The property is zoned industrial.
Key Highlights
- 46,560 SF industrial warehouse on 2.5 acres in Longwood industrial area, built in 1984 (major renovations in 2008 and 2018).
- 40' x 30' column spacing with 18' +/- ceiling height; zoned industrial.
- 6 dock‑high/loading options: 4 dock‑high doors plus 2 additional doors with a loading ramp and roll‑up door.
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
6
Dock-high doors
11
Office units
Multi-tenant
Tenancy
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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Frequently Asked Questions
What type of property is this?
Warehouse - Updated industrial warehouse with dock-high loading, fenced yard, and office/showroom improvements for flexible tenant use.
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 SF industrial warehouse on 2.5 acres in Longwood industrial area, built in 1984 (major renovations in 2008 and 2018).; 40' x 30' column spacing with 18' +/- ceiling height; zoned industrial.; 6 dock‑high/loading options: 4 dock‑high doors plus 2 additional doors with a loading ramp and roll‑up door.
