Flex Space with Outdoor
For Sale
$1,795,000
2011 CORNELL Street, Sarasota, FL 34237
Commercial Sale, SARASOTA, FL
Property Size3,750 SF
Lot Size0.49 Acres
Price / SF$478.67
Days on Market43
Property Features for 2011 CORNELL Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IGD
Subdivision
MONTEREY
Directions
North on US-301 from Fruitville Rd, right on Princeton, left on Cornell; the property is on the left.
Standard status
Active
APN
2023130051
Size
3,750 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 1, 2, 3 and 4, Block 7, MONTEREY, according to the plat thereof, recorded in Plat Book 2, Page 120A of the Public Records of Sarasota County, Florida.
Tax Annual Amount
7009
Legal Description
Lots 1, 2, 3 and 4, Block 7, MONTEREY, according to the plat thereof, recorded in Plat Book 2, Page 120A of the Public Records of Sarasota County, Florida.
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Amenities
A/C-equipped office space
reception area
half baths
bay doors
Building Details
Year built
1978
Floors in Building
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
CENTURY 21 ROSEBAY
(941) 366-7673
Listed By:
Michelle Dunn
(941) 600-8494
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 25 at 2:06AM
MLS# A4699881
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 0.49-acre industrial property includes a 3,750-square-foot metal-framed building and the adjoining parcel at 2010 Princeton St. The building contains approximately 1,000 square feet of air-conditioned office space, a reception area, two half baths, and adaptable areas for warehouse, shop, and service functions. Two large bay doors serve the north and south sides, measuring approximately 10 x 12 and 12 x 12.
The adjacent parcel is fully fenced and has an access gate. Its current use includes storage for boats, trailers, and commercial vehicles. The property is zoned Industrial General District (IGD), with permitted uses identified in the source including manufacturing, warehousing, wholesale distribution, light industrial activity, automotive repair, marine service, and contractor operations. It is one block from US-301 and 1.4 miles from Centennial Park Boat Ramp, with access to downtown Sarasota and the waterfront. The site was built in 1978 and has electricity available, public sewer, and a metal roof.
The adjacent parcel is fully fenced and has an access gate. Its current use includes storage for boats, trailers, and commercial vehicles. The property is zoned Industrial General District (IGD), with permitted uses identified in the source including manufacturing, warehousing, wholesale distribution, light industrial activity, automotive repair, marine service, and contractor operations. It is one block from US-301 and 1.4 miles from Centennial Park Boat Ramp, with access to downtown Sarasota and the waterfront. The site was built in 1978 and has electricity available, public sewer, and a metal roof.
Key Highlights
- 0.49‑acre industrial property with adjacent parcel at 2010 Princeton St.
- 3,750‑square‑foot metal‑framed building with approximately 1,000 square feet of A/C‑equipped office space
- Two large bay doors measuring approximately 10 x 12 and 12 x 12
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
$61,236
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
3.41%
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%
$1,224,720
$1.2M
Cap Rate 7%
$874,800
$874.8K
Cap Rate 9%
$680,400
$680.4K
Market Conditions
NOI Build-Up for 3,750 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
$86.4K $23.04/SF
− Vacancy
−$4.8K −$1.27/SF
EGI
$81.6K $21.77/SF
− OpEx
−$20.4K −$5.44/SF
NOI
$61.2K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,224,720
Cap Rate 7%
$874,800
Cap Rate 9%
$680,400
Alternative Uses
Best Use
Office B
$874.8K
$765.5K – $1.02M
NOI $61,236 @ 7.0% cap · market cap 3.41%
Second Best
Retail
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.10M
$964.9K – $1.29M
NOI $77,193 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,374
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - IGD-zoned property combines office, shop, warehouse, and fenced outdoor storage areas.
Where is this flex space located?
The property is located at 2011 CORNELL Street Sarasota, FL.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 0.49‑acre industrial property with adjacent parcel at 2010 Princeton St.; 3,750‑square‑foot metal‑framed building with approximately 1,000 square feet of A/C‑equipped office space; Two large bay doors measuring approximately 10 x 12 and 12 x 12
