Two-Story Flex
For Sale
$1,700,000
100 Tech Drive, Sanford, FL 32771
Newly renovated two-story building with 100% air-conditioning, wet fire sprinklers, and two demised spaces.
Property Size9,041 SF
Lot Size0.52 Acres
Price / SF$188.03
Days on Market845
Property Features for 100 Tech Drive
General Information
Standard status
Active
Size
9,041 SF
Total Parking Spaces
11
Lot size
0.52 Acres
Zoning
RI-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Drive-In Doors
3
Sprinkler System
Yes
Building Details
Stories
2
Listing Agency:
(407) 706-3579
Listed By:
Kevin Eaton · License #BK3315857
(407) 706-3579
Source:
Expcommercial
Added: May 10, 2024
Changed: Aug 31
Last Checked: Aug 31 at 12:37PM
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 Kevin Eaton
Investment Insights
Based on property information with market context.
Newly renovated two-story office & industrial building totaling 9,041 square feet, with 100% air-conditioning throughout. The entire building is served by a wet fire sprinkler system, supporting flexible use considerations. The property includes interior rolling storm shutters on every window and a wet fire alarm monitoring box (new in 2023), along with a new 7.5-ton HVAC unit (2023).
The building sits on a 0.52-acre corner lot and is accessed via two driveways, one off Tech Drive and one via a shared driveway off St. Johns Pkwy. Paved concrete driveways and parking include 11 striped spaces, with the rear of the building designed to accommodate up to 20 vehicles. The configuration includes two demised spaces separated by a four-hour firewall and two pedestrian door openings.
The larger space features an entry lobby, kitchenette, restrooms, private offices, and open work/storage/R&D areas, and is serviced by two 12-foot at-grade roll-up doors. The smaller space includes private offices, a restroom, and open work/storage/R&D areas, and also includes a 12-foot at-grade roll-up door. The property is zoned RI-1, Restricted Industrial, with permitted uses listed as including college, university or vocational schools, vehicular uses, business and services, and industrial uses.
The building sits on a 0.52-acre corner lot and is accessed via two driveways, one off Tech Drive and one via a shared driveway off St. Johns Pkwy. Paved concrete driveways and parking include 11 striped spaces, with the rear of the building designed to accommodate up to 20 vehicles. The configuration includes two demised spaces separated by a four-hour firewall and two pedestrian door openings.
The larger space features an entry lobby, kitchenette, restrooms, private offices, and open work/storage/R&D areas, and is serviced by two 12-foot at-grade roll-up doors. The smaller space includes private offices, a restroom, and open work/storage/R&D areas, and also includes a 12-foot at-grade roll-up door. The property is zoned RI-1, Restricted Industrial, with permitted uses listed as including college, university or vocational schools, vehicular uses, business and services, and industrial uses.
Key Highlights
- Newly renovated 9,041 SF two‑story office & industrial building with 100% air‑conditioning throughout.
- Entire building is protected by a wet fire sprinkler system and includes fire alarm monitoring (2023 new monitoring box).
- On a 0.52‑acre corner lot in Sanford Central Park with two driveways and paved concrete parking (11 striped spaces).
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
$61,328
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
3.61%
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%
$1,226,560
$1.2M
Cap Rate 7%
$876,114
$876.1K
Cap Rate 9%
$681,422
$681.4K
Market Conditions
NOI Build-Up for 9,041 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
$79.2K $8.76/SF
− Vacancy
−$7.0K −$0.78/SF
EGI
$72.2K $7.98/SF
− OpEx
−$10.8K −$1.20/SF
NOI
$61.3K $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%
$1,226,560
Cap Rate 7%
$876,114
Cap Rate 9%
$681,422
Alternative Uses
Best Use
Warehouse
$876.1K
$766.6K – $1.02M
NOI $61,328 @ 7.0% cap · market cap 3.61%
Second Best
Industrial
$721.5K
$631.3K – $841.8K
NOI $50,505 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,097 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
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?
Flex space - Newly renovated two-story building with 100% air-conditioning, wet fire sprinklers, and two demised spaces.
Where is this flex space located?
The property is located at 100 Tech Drive Sanford, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Newly renovated 9,041 SF two‑story office & industrial building with 100% air‑conditioning throughout.; Entire building is protected by a wet fire sprinkler system and includes fire alarm monitoring (2023 new monitoring box).; On a 0.52‑acre corner lot in Sanford Central Park with two driveways and paved concrete parking (11 striped spaces).
