Industrial Building with Four
For Sale
$790,000
400 NW PHOSPHATE Blvd, Mulberry, FL 33860
Industrial/commercial building on a corner lot with four separate units and existing block exterior wall.
Property Size8,032 SF
Lot Size0.65 Acres
Price / SF$98.36
Days on Market106
Property Features for 400 NW PHOSPHATE Blvd
General Information
Standard status
Active
Size
8,032 SF
Lot size
0.65 Acres
Property subtype
Industrial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,427
Building Details
Building Size
8,032 SF
Year Built
1960
Stories
1
Units
4
Listing Agency:
KELLER WILLIAMS REALTY SMART 1
(863) 274-1200
Listed By:
Logan Bennett · License #3333172
(863) 274-1200
Source:
Elliman
Added: May 18
Changed: Aug 24
Last Checked: Aug 30 at 4:43PM
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 KELLER WILLIAMS REALTY SMART 1
Investment Insights
Based on property information with market context.
This versatile industrial/commercial building is offered for sale and totals 8,032 square feet on a 0.65-acre corner lot at 400 NW Phosphate Blvd in Mulberry. The property is configured as four separate units, each approximately 2,000 square feet, supporting a range of operational layouts such as warehouse use, office/showroom combinations, or light industrial applications.
The building sits with prominent corner placement intended to support visibility and accessibility. The exterior includes a block wall, and the seller notes that a 60x70 warehouse could be placed on the backside of the building by tying into the existing block exterior wall to add additional business potential.
For buyers seeking flexibility in use and configuration, this multi-unit industrial asset offers a practical setup for owner-occupancy or income-producing possibilities within a single property footprint.
The building sits with prominent corner placement intended to support visibility and accessibility. The exterior includes a block wall, and the seller notes that a 60x70 warehouse could be placed on the backside of the building by tying into the existing block exterior wall to add additional business potential.
For buyers seeking flexibility in use and configuration, this multi-unit industrial asset offers a practical setup for owner-occupancy or income-producing possibilities within a single property footprint.
Key Highlights
- 8,032 SF industrial/commercial building on a 0.65‑acre corner lot at 400 NW Phosphate Blvd
- Building includes four separate units of approximately 2,000 SF each
- Existing block exterior wall supports potential placement of a 60x70 warehouse on the backside
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
$53,505
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
6.77%
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%
$1,070,100
$1.1M
Cap Rate 7%
$764,357
$764.4K
Cap Rate 9%
$594,500
$594.5K
Market Conditions
NOI Build-Up for 8,032 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
$68.3K $8.50/SF
− Vacancy
−$5.3K −$0.66/SF
EGI
$62.9K $7.84/SF
− OpEx
−$9.4K −$1.18/SF
NOI
$53.5K $6.66/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$8.50 /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%
$1,070,100
Cap Rate 7%
$764,357
Cap Rate 9%
$594,500
Alternative Uses
Best Use
Warehouse
$764.4K
$668.8K – $891.8K
NOI $53,505 @ 7.0% cap · market cap 6.77%
Second Best
Flex RnD
$617.5K
$540.4K – $720.5K
NOI $43,228 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,111 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33860, FL
24,932
Population
9,649
Households
2.6
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
98.4 sq mi
ZIP Area
253
Density / Sq Mi
$62,779
Median Household Income
$37,688
Median Earnings
$1,150
Median Rent
$221,400
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?
Flex space - Industrial/commercial building on a corner lot with four separate units and existing block exterior wall.
Where is this flex space located?
The property is located at 400 NW PHOSPHATE Blvd Mulberry, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 8,032 SF industrial/commercial building on a 0.65‑acre corner lot at 400 NW Phosphate Blvd; Building includes four separate units of approximately 2,000 SF each; Existing block exterior wall supports potential placement of a 60x70 warehouse on the backside
