Freestanding Warehouse with Additional
For Sale
Contact for pricing
1312 N Lime Ave, Sarasota, FL 34237
Includes private offices, showroom areas, production space, and multiple restrooms.
Property Size11,400 SF
Price / SF$175
Days on Market151
Property Features for 1312 N Lime Ave
General Information
Standard status
Active
Size
11,400 SF
Property subtype
Industrial
Zoning
IHD & IGD
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1971
Stories
1
Tenancy
Single
Listing Agency:
Ian Black Real Estate LLC
(407) 650-3615
Listed By:
Melissa Harris, SIOR · License #SL3253250
Source:
Crexi
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 11:25AM
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 Ian Black Real Estate LLC
Investment Insights
Based on property information with market context.
This freestanding warehouse property contains 11,400 square feet of improvements built in 1971. The layout includes private offices, open showroom areas, multiple production zones, five restrooms, and a loft that provides additional storage capacity. The building formerly served as a cabinet showroom and manufacturing facility. Rear portions of the site are partially fenced for outside storage, with customer parking on Lime Ave and employee parking on Boyd Ave.
Access is available from both Lime Ave and Boyd Ave, and the property is located close to downtown Sarasota and area service-related businesses. The sale also includes a fully fenced 5,625-square-foot vacant lot across the street at 0 Boyd Ave. That additional parcel contains two shed-like structures and was previously used for outside storage and parking. The property is zoned IHD & IGD.
Access is available from both Lime Ave and Boyd Ave, and the property is located close to downtown Sarasota and area service-related businesses. The sale also includes a fully fenced 5,625-square-foot vacant lot across the street at 0 Boyd Ave. That additional parcel contains two shed-like structures and was previously used for outside storage and parking. The property is zoned IHD & IGD.
Key Highlights
- 11,400 SF freestanding warehouse built in 1971
- Includes private offices, showroom areas, production zones, five restrooms, and a storage loft
- Access from Lime Ave and Boyd Ave
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
$116,457
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
5.84%
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%
$2,329,140
$2.3M
Cap Rate 7%
$1,663,671
$1.7M
Cap Rate 9%
$1,293,967
$1.3M
Market Conditions
NOI Build-Up for 11,400 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
$142.3K $12.48/SF
− Vacancy
−$5.3K −$0.46/SF
EGI
$137.0K $12.02/SF
− OpEx
−$20.6K −$1.80/SF
NOI
$116.5K $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%
$2,329,140
Cap Rate 7%
$1,663,671
Cap Rate 9%
$1,293,967
Alternative Uses
Best Use
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,457 @ 7.0% cap · market cap 5.84%
Second Best
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,350 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,667 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34237, FL
16,740
Population
9,194
Households
1.8
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
4,292
Density / Sq Mi
$63,133
Median Household Income
$35,044
Median Earnings
$1,524
Median Rent
$234,400
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?
Warehouse - Includes private offices, showroom areas, production space, and multiple restrooms.
Where is this warehouse located?
The property is located at 1312 N Lime Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 11,400 SF freestanding warehouse built in 1971; Includes private offices, showroom areas, production zones, five restrooms, and a storage loft; Access from Lime Ave and Boyd Ave
