Building Details

Buildings 8

Tenancy Multi

Listing Agency: Harry E Robbins Associate

Listed By: Kevin Robbins · License #SL3042951 Show Phone

Source: Crexi

Added: Aug 11 Changed: Oct 16 Last Checked: Oct 19 at 6:12AM

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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 Harry E Robbins Associate

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Investment Insights

Based on property information with market context.

This flex space offering comprises three contiguous parcels improved with eight buildings totaling 30,130 square feet. The improvements provide a combination of flexible industrial space and retail showroom areas, creating a multi-building commercial configuration suited to varied occupancy needs.

The property encompasses 134,530 square feet, or approximately 3.09 acres, at the signalized intersection of 17th Street and East Avenue in Sarasota. Existing occupancy is structured primarily through month-to-month and short-term leases, providing a varied tenant profile across the buildings and parcels.

Key Highlights

• Three contiguous parcels totaling 134,530 SF (±3.09 acres)
• Eight buildings with 30,130 square feet of combined improvements
• Flexible industrial and retail showroom space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$470,751

Cap Rate

7.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,415,020 $9.4M

Cap Rate 7%

$6,725,014 $6.7M

Cap Rate 9%

$5,230,567 $5.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 30,130 SF

Gross rent

$723.1K $24.00/SF

− Vacancy

−$50.6K −$1.68/SF

EGI

$672.5K $22.32/SF

− OpEx

−$201.8K −$6.70/SF

NOI

$470.8K $15.62/SF

Area

Sarasota County, FL

Vacancy

7.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,415,020

Cap Rate 7%

$6,725,014

Cap Rate 9%

$5,230,567

Alternative Uses

Best Use

Retail

$6.73M

$5.88M – $7.85M (±1% cap)

NOI $470,751 @ 7.0% cap · market cap 7.91%

Second Best

Industrial

$4.96M

$4.34M – $5.79M (±1% cap)

NOI $347,445 @ 7.0% cap · market cap 5.84%

Theoretical Best

Office A

$8.56M

$7.49M – $9.99M (±1% cap)

NOI $599,423 @ 7.0% cap · market cap 10.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Pharmacy Spa & Massage Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

873

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 34234, FL

20,858

Population

10,257

Households

2

Avg Household Size

42

Median Age

28%

College-Educated

86%

High-School Grad

6.5 sq mi

ZIP Area

3,209

Density / Sq Mi

$56,607

Median Household Income

$33,536

Median Earnings

$1,352

Median Rent

$222,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Eight-building commercial property combines industrial and retail showroom space across contiguous parcels at a signalized intersection.

Where is this flex space located?

The property is located at 2148 17th Street Sarasota, FL.

What is the asking price?

The asking price for this property is $5,950,000.

What are key features of this property?

This property features: Three contiguous parcels totaling 134,530 SF (±3.09 acres); Eight buildings with 30,130 square feet of combined improvements; Flexible industrial and retail showroom space