Multi-Building Flex Space
For Sale
Contact for pricing
2148 17th Street, Sarasota, FL 34234
Eight-building commercial property combines industrial and retail showroom space across contiguous parcels at a signalized intersection.
Property Size30,130 SF
Lot Size3.09 Acres
Price / SF$215.73
Days on Market25
Property Features for 2148 17th Street
General Information
Standard status
Active
Size
30,130 SF
Lot size
3.09 Acres
Property subtype
Industrial, Retail
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Buildings
8
Tenancy
Multi
Listing Agency:
Harry E Robbins Associate
Listed By:
Kevin Robbins · License #SL3042951
(941) 724-2321
Source:
Crexi
Added: Aug 11
Changed: Sep 4
Last Checked: Sep 4 at 2:56PM
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
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.
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 = 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
$370,527
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
5.70%
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%
$7,410,540
$7.4M
Cap Rate 7%
$5,293,243
$5.3M
Cap Rate 9%
$4,116,967
$4.1M
Market Conditions
NOI Build-Up for 30,130 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
$542.3K $18.00/SF
− Vacancy
−$13.0K −$0.43/SF
EGI
$529.3K $17.57/SF
− OpEx
−$158.8K −$5.27/SF
NOI
$370.5K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /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%
$7,410,540
Cap Rate 7%
$5,293,243
Cap Rate 9%
$4,116,967
Alternative Uses
Best Use
Retail
$5.29M
$4.63M – $6.18M
NOI $370,527 @ 7.0% cap · market cap 5.70%
Second Best
Flex RnD
$4.24M
$3.71M – $4.95M
NOI $296,940 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$8.86M
$7.75M – $10.34M
NOI $620,220 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $6,500,000.
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
