Light Manufacturing Facility with Loading
For Sale
Contact for pricing
1507 17th St East, Palmetto, FL 34221
Shipping and receiving are supported by multiple overhead doors, two docks, and ramp access into the building.
Property Size14,300 SF
Lot Size2.35 Acres
Price / SF$314.34
Days on Market11
Property Features for 1507 17th St East
General Information
Standard status
Active
Size
14,300 SF
Lot size
2.35 Acres
Property subtype
Industrial
Zoning
LM
Warehouse & Industrial
Clear Height
26 ft
Warehouse Space
14,300 SF
Dock-High Doors
2
Drive-In Doors
1
Conditioned Warehouse
Yes
Building Details
Building Size
14,300 SF
Listing Agency:
American Property Group of Sarasota Inc
Listed By:
Tyler Sluman · License #FL SL3487138
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 7:15AM
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 American Property Group of Sarasota Inc
Investment Insights
Based on property information with market context.
The Palmetto property contains approximately 14,300 square feet on 2.35 acres, with LM zoning. The warehouse reaches ceiling heights of up to 26 feet and has six overhead doors. One door is 20 feet high and provides ramp access directly into the building; two loading docks add further loading options. About half of the warehouse is air-conditioned, with 15-ton and 10-ton HVAC systems. The roof was installed in 2021.
Ownership plans to remain in the building through December 31, 2026, and is willing to discuss a post-closing occupancy agreement. The property is located at 1507 17th St East in Palmetto, Florida.
Ownership plans to remain in the building through December 31, 2026, and is willing to discuss a post-closing occupancy agreement. The property is located at 1507 17th St East in Palmetto, Florida.
Key Highlights
- Approximately 14,300 SF on 2.35 acres
- LM zoning
- Warehouse ceiling heights reach 26 feet
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
$146,082
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
3.25%
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%
$2,921,640
$2.9M
Cap Rate 7%
$2,086,886
$2.1M
Cap Rate 9%
$1,623,133
$1.6M
Market Conditions
NOI Build-Up for 14,300 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
$178.5K $12.48/SF
− Vacancy
−$6.6K −$0.46/SF
EGI
$171.9K $12.02/SF
− OpEx
−$25.8K −$1.80/SF
NOI
$146.1K $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%
$2,921,640
Cap Rate 7%
$2,086,886
Cap Rate 9%
$1,623,133
Alternative Uses
Best Use
Warehouse
$2.09M
$1.83M – $2.43M
NOI $146,082 @ 7.0% cap · market cap 3.25%
Second Best
Industrial
$1.72M
$1.50M – $2.01M
NOI $120,303 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M
NOI $294,363 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
26 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 34221, FL
48,082
Population
24,812
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
91%
High-School Grad
53.9 sq mi
ZIP Area
892
Density / Sq Mi
$74,314
Median Household Income
$40,072
Median Earnings
$1,459
Median Rent
$298,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Shipping and receiving are supported by multiple overhead doors, two docks, and ramp access into the building.
Where is this manufacturing property located?
The property is located at 1507 17th St East Palmetto, FL.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Approximately 14,300 SF on 2.35 acres; LM zoning; Warehouse ceiling heights reach 26 feet
