Retail Anchor in Historic
For Sale
Contact for pricing
212 First St, Sanford, FL 32771
For sale retail asset anchored on First Street in an actively redeveloping historic commercial district near Lake Monroe.
Property Size8,700 SF
Price / SF$431.03
Days on Market99
Property Features for 212 First St
General Information
Standard status
Active
Size
8,700 SF
Property subtype
Retail, Special Purpose, Business for Sale
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$297,462
Building Details
Buildings
1
Units
10
Tenancy
Multi
Listing Agency:
Lloyd Commercial Advisors
Listed By:
Scott Lloyd CCIM, RPA · License #BK3096896
Source:
Crexi
Added: Jun 1
Changed: Sep 5
Last Checked: Sep 7 at 12:08AM
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 Lloyd Commercial Advisors
Investment Insights
Based on property information with market context.
This for-sale retail property anchors First Street within Sanford’s actively redeveloping historic commercial district. The setting benefits from sustained foot traffic and a mix of complementary independent operators.
The property’s placement also supports convenient access to the Lake Monroe waterfront, adding to the overall daytime and visitor draw of the area. The asset is offered for sale at $3,750,000.
The property’s placement also supports convenient access to the Lake Monroe waterfront, adding to the overall daytime and visitor draw of the area. The asset is offered for sale at $3,750,000.
Key Highlights
- Retail asset anchored on First Street in Sanford’s historic commercial district
- Located near the Lake Monroe waterfront
- Benefits from sustained foot traffic and complementary independent operators
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
$170,841
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
4.56%
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%
$3,416,820
$3.4M
Cap Rate 7%
$2,440,586
$2.4M
Cap Rate 9%
$1,898,233
$1.9M
Market Conditions
NOI Build-Up for 8,700 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
$252.6K $29.04/SF
− Vacancy
−$8.6K −$0.99/SF
EGI
$244.1K $28.05/SF
− OpEx
−$73.2K −$8.42/SF
NOI
$170.8K $19.64/SF
Area
Seminole County, FL
Vacancy
3.40%
Lease Rate
$29.04 /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%
$3,416,820
Cap Rate 7%
$2,440,586
Cap Rate 9%
$1,898,233
Alternative Uses
Best Use
Retail
$2.44M
$2.14M – $2.85M
NOI $170,841 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,304 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale retail asset anchored on First Street in an actively redeveloping historic commercial district near Lake Monroe.
Where is this retail space located?
The property is located at 212 First St Sanford, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Retail asset anchored on First Street in Sanford’s historic commercial district; Located near the Lake Monroe waterfront; Benefits from sustained foot traffic and complementary independent operators
