Listing Agency: boutique realty florida D***@hotmail.com

Listed By: Jamie Klingman · License #3263898 Show Phone

Source: Exprealty

Added: Jun 14, 2025 Changed: Sep 6 Last Checked: Sep 6 at 1:00PM

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Investment Insights

Based on property information with market context.

This gated flex warehouse and storage property sits on more than 3 acres and includes a large climate-controlled area plus additional warehousing and storage space. The layout supports a front building that was previously residential and can be used for offices, along with built-out offices throughout the property, including an executive suite with a kitchenette and a full private bathroom. There is also a 5,000-square-foot tool and supply store setup that is described as fully stocked and includes POS, along with additional space behind the main building for storage and parking. The property is wired for cameras and includes generators, and a secondary gate provides access to the main building.

Located directly off I-4 along US 92 between two access exits, the property is positioned for convenient regional access, described as less than 30 minutes to the port and airport in Tampa and under an hour to Orlando. The frontage along US 92 is lit with LED lights and includes signage. The site accommodates 53' trailers fitting between the buildings into the main area.

Built by the owner over approximately 40 years, the property is presented as adaptable to a wide range of commercial and warehousing needs, with substantial internal space for warehousing, offices, and secured operations behind internal gates.

Key Highlights

• More than 3 acres directly on US 92 between two I‑4 access exits
• Over 12,000 sq ft climate‑controlled space plus 30,000+ sq ft for storage or warehousing
• Gated property with secondary gate; built‑out offices and an executive suite with kitchenette and private bathroom

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

$166,700

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

6.67%

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%

$3,334,000 $3.3M

Cap Rate 7%

$2,381,429 $2.4M

Cap Rate 9%

$1,852,222 $1.9M

Market Conditions

NOI Build-Up for 12,992 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

$272.8K $21.00/SF

− Vacancy

−$16.4K −$1.26/SF

EGI

$256.5K $19.74/SF

− OpEx

−$89.8K −$6.91/SF

NOI

$166.7K $12.83/SF

Area

Brandon, FL

Vacancy

6.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

35.00%

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%

$3,334,000

Cap Rate 7%

$2,381,429

Cap Rate 9%

$1,852,222

Alternative Uses

Best Use

Flex RnD

$2.38M

$2.08M – $2.78M (±1% cap)

NOI $166,700 @ 7.0% cap · market cap 6.67%

Second Best

Warehouse

$2.18M

$1.91M – $2.54M (±1% cap)

NOI $152,651 @ 7.0% cap · market cap 6.11%

Theoretical Best

Office A

$4.89M

$4.28M – $5.70M (±1% cap)

NOI $342,116 @ 7.0% cap · market cap 13.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Big Box & Wholesale Store Parking Lot & Garage Storage Facility Bed & Breakfast Electrical Service Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,034

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Gated Flex Property with Warehousing

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Frequently Asked Questions

What type of property is this?

Flex space - Gated flex warehouse with climate-controlled space, trailer access, built-out offices, and utility backup for year-round operations.

Where is this flex space located?

The property is located at 13309 E Us Highway 92 Dover, FL.

What is the asking price?

The asking price for this property is $2,499,999.

What are key features of this property?

This property features: More than 3 acres directly on US 92 between two I‑4 access exits; Over 12,000 sq ft climate‑controlled space plus 30,000+ sq ft for storage or warehousing; Gated property with secondary gate; built‑out offices and an executive suite with kitchenette and private bathroom