Fenced Flex Space with Storage
For Sale
$270,000
1819 W 2nd St, Sanford, FL 32771
Fully enclosed grounds provide secure outdoor storage, vehicle parking, and room for on-site business operations.
Property Size1,471 SF
Lot Size0.50 Acres
Price / SF$183.55
Days on Market114
Property Features for 1819 W 2nd St
General Information
Standard status
Active
Size
1,471 SF
Lot size
0.50 Acres
Property Condition
Severity
Repairs Needed
Evidence
does require some work
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1938
Listing Agency:
LPT REALTY, LLC
(321) 946-8158
Listed By:
Selena Peterson · License #3186367
Source:
Livewelltampabay
Added: May 9
Changed: Aug 29
Last Checked: Aug 25 at 5:03AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This flex-space property includes a building currently used as a church on a fully fenced 0.50-acre site. The interior layout can be adapted for office or operational functions, while the grounds provide space for equipment, vehicles, and materials. The property includes ample parking and is suited to businesses that need both enclosed workspace and outdoor storage.
Recent improvements include a new roof and A/C system. The building requires additional work, presenting an opportunity to reconfigure the existing improvements for an owner-user or investor. Located at 1819 W 2ND St in Sanford, the property has a Bike Score of 60, Walk Score of 32, and Transit Score of 19. Built in 1938.
Recent improvements include a new roof and A/C system. The building requires additional work, presenting an opportunity to reconfigure the existing improvements for an owner-user or investor. Located at 1819 W 2ND St in Sanford, the property has a Bike Score of 60, Walk Score of 32, and Transit Score of 19. Built in 1938.
Key Highlights
- Fully fenced 0.50‑acre site with outdoor storage area
- Existing building currently used as a church
- Interior can be adapted for office or operational space
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
$8,217
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
3.04%
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%
$164,340
$164.3K
Cap Rate 7%
$117,386
$117.4K
Cap Rate 9%
$91,300
$91.3K
Market Conditions
NOI Build-Up for 1,471 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
$12.9K $8.76/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$11.7K $7.98/SF
− OpEx
−$3.5K −$2.39/SF
NOI
$8.2K $5.59/SF
Area
Seminole County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
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%
$164,340
Cap Rate 7%
$117,386
Cap Rate 9%
$91,300
Alternative Uses
Best Use
Industrial
$117.4K
$102.7K – $137.0K
NOI $8,217 @ 7.0% cap · market cap 3.04%
Second Best
Flex RnD
$109.0K
$95.4K – $127.2K
NOI $7,630 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,302 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
592
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
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Similar Off Market Nearby
- South Paw Soul Food — 12th and, Pecan Ave, Sanford, FL 32771
Frequently Asked Questions
What type of property is this?
Flex space - Fully enclosed grounds provide secure outdoor storage, vehicle parking, and room for on-site business operations.
Where is this flex space located?
The property is located at 1819 W 2nd St Sanford, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Fully fenced 0.50‑acre site with outdoor storage area; Existing building currently used as a church; Interior can be adapted for office or operational space
