Downtown Sanford Mixed-Use
203 E 3rd St Sanford, FL 32771
203 E 3rd St, Sanford, FL, 32771
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For Sale
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4,930 SF mixed-use building in Downtown Sanford, Florida.
Property Size4,930 SF
Price / SF$303.25
Days on Market150
Property Features for 203 E 3rd St
General Information
- Standard status
- Active
- Size
- 4,930 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1974
Listing Agency
Collison Capital
Listed by
Carter Collison · License #BK3199690
Source
Crexi
Added: Feb 17 Checked: Jul 16 at 12:20 pm
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 Collison Capital
Investment Insights
Based on property information with market context.
The Westerfield Building is a 4,930 SF mixed-use building located in Downtown Sanford, Florida, situated in the submarket's most desirable retail and dining area. The property is currently 100% leased to a diverse mix of six retail and office tenants, presenting a unique investment opportunity in the Sanford / Lake Mary market. It features SC-3 zoning (2.0 FAR) within the special Waterfront Downtown Business District (WDBD), designed to encourage higher density commercial development in Sanford's downtown core. Each of the eight office / retail suites offers private exterior entries, eliminating internal common hallways. Individual restrooms, with some units including full shower facilities, are available. The suites also feature direct frontage onto East 3rd Street and ample on-site parking, providing a leasing advantage over comparable mixed-use properties. This combination of on-site amenities in Downtown Sanford has resulted in significant tenant demand and 100% property occupancy.
Key Highlights
- Located in the highly desirable Downtown Sanford retail and dining neighborhood.
- 100% leased to a diverse mix of retail and office tenants.
- Unique investment opportunity in the Sanford / Lake Mary market.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.2k | $29.04 |
| − Vacancy | −$4.9k | −$0.99 |
| EGI | $138.3k | $28.05 |
| − OpEx | −$41.5k | −$8.42 |
| NOI | $96.8k | $19.64 |
4,930 SF · lease $29.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.61M
NOI $96,810 @ 7.0% cap · market cap 6.48%
Second Best
Office B
$1.05M
$920.7K – $1.23M
NOI $73,654 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,206 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hope & Help
Social Service Agency
TLC Massage Spa
Alternative Medicine Practice
Ace Medical Sanford, ...
Alternative Medicine Practice
Five Star Smile
Dental Office
SANFORD'S LIVE SCAN ...
Fingerprinting Service
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FAQs
What type of property is this?
Mixed-use property - 4,930 SF mixed-use building in Downtown Sanford, Florida.
Where is this mixed-use property located?
The property is located at 203 E 3rd St Sanford, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Located in the highly desirable Downtown Sanford retail and dining neighborhood.; 100% leased to a diverse mix of retail and office tenants.; Unique investment opportunity in the Sanford / Lake Mary market.
