Industrial Flex Building with 5
For Sale
$2,300,000
2010 whitfield Park Loop, Sarasota, FL 34243
Industrial flex property with five units and 100% occupancy, recently renovated in 2022 and zoned LM.
Property Size9,606 SF
Price / SF$239.43
Days on Market138
Property Features for 2010 whitfield Park Loop
General Information
Standard status
Active
Size
9,606 SF
Property subtype
Industrial
Zoning
LM
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
9,606 SF
Year Built
1980
Year Renovated
2022
Tenancy
Multi
Listing Agency:
NDC Commercial Real Estate
Listed By:
Gavin Oberlin · License #FL #SL3461965
(941) 720-0403
Source:
Ndc-commercial
Added: Apr 21
Changed: Aug 26
Last Checked: Sep 5 at 5:23AM
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 NDC Commercial Real Estate
Investment Insights
Based on property information with market context.
The property is a 9,606 SF industrial/flex building configured as five units. The improvements were recently renovated in 2022, while the structure is described as having been built in 1980. The offering is presented with 100% occupancy and is zoned LM, supporting a range of industrial and flex uses.
Located in the Sarasota, FL area, the property is positioned for convenient logistics and transportation access, with proximity to Sarasota-Bradenton International Airport and the nearby I-75 corridor. The surrounding area also includes educational and workforce-training institutions such as Suncoast Technical College and State College of Florida, along with the University Town Center as a nearby retail, dining, and entertainment hub.
Located in the Sarasota, FL area, the property is positioned for convenient logistics and transportation access, with proximity to Sarasota-Bradenton International Airport and the nearby I-75 corridor. The surrounding area also includes educational and workforce-training institutions such as Suncoast Technical College and State College of Florida, along with the University Town Center as a nearby retail, dining, and entertainment hub.
Key Highlights
- 9,606 SF industrial/flex building built in 1980
- 5‑unit layout with 100% occupancy
- Recently renovated in 2022
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
$94,670
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
4.12%
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%
$1,893,400
$1.9M
Cap Rate 7%
$1,352,429
$1.4M
Cap Rate 9%
$1,051,889
$1.1M
Market Conditions
NOI Build-Up for 9,606 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
$153.3K $15.96/SF
− Vacancy
−$7.7K −$0.80/SF
EGI
$145.6K $15.16/SF
− OpEx
−$51.0K −$5.31/SF
NOI
$94.7K $9.86/SF
Area
Manatee County, FL
Vacancy
5.00%
Lease Rate
$15.96 /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%
$1,893,400
Cap Rate 7%
$1,352,429
Cap Rate 9%
$1,051,889
Alternative Uses
Best Use
Flex RnD
$1.35M
$1.18M – $1.58M
NOI $94,670 @ 7.0% cap · market cap 4.12%
Second Best
Industrial
$1.15M
$1.01M – $1.35M
NOI $80,813 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$2.82M
$2.47M – $3.30M
NOI $197,738 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
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 flex property with five units and 100% occupancy, recently renovated in 2022 and zoned LM.
Where is this flex space located?
The property is located at 2010 whitfield Park Loop Sarasota, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 9,606 SF industrial/flex building built in 1980; 5‑unit layout with 100% occupancy; Recently renovated in 2022
