Flex Space with Two
For Sale
$2,139,000
2169 10th St, Sarasota, FL 34237
DTE-zoned property combines warehouse bays with office and support areas.
Property Size11,475 SF
Price / SF$186.41
Days on Market57
Property Features for 2169 10th St
General Information
Standard status
Active
Size
11,475 SF
Building Details
Year Built
1971
Listing Agency:
COMPASS FLORIDA LLC
(941) 779-6227
Listed By:
Colby Lengel · License #3335175
Source:
Livewelltampabay
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 25 at 5:03AM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 11,475-square-foot flex property includes two warehouse bays equipped with 14-foot grade-level roll-up doors. The interior layout includes a first-floor reception area, private office, kitchen, and restroom, complemented by two loft-style office areas and a mezzanine. The configuration supports a combination of operational, administrative, and creative workspace.
Located in Downtown Sarasota, the property carries DTE zoning and includes an additional east-side lot with grassy open space. The lot may accommodate additional parking, storage, outdoor activation, or expansion of the existing footprint, subject to applicable approvals. The property is also positioned for light industrial operations, storage, production, fitness, social club, or other business concepts identified in the source information.
Located in Downtown Sarasota, the property carries DTE zoning and includes an additional east-side lot with grassy open space. The lot may accommodate additional parking, storage, outdoor activation, or expansion of the existing footprint, subject to applicable approvals. The property is also positioned for light industrial operations, storage, production, fitness, social club, or other business concepts identified in the source information.
Key Highlights
- 11,475‑square‑foot flex property in Downtown Sarasota
- DTE zoning
- Two warehouse bays with 14‑foot grade‑level roll‑up doors
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
$187,382
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
8.76%
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%
$3,747,640
$3.7M
Cap Rate 7%
$2,676,886
$2.7M
Cap Rate 9%
$2,082,022
$2.1M
Market Conditions
NOI Build-Up for 11,475 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
$264.4K $23.04/SF
− Vacancy
−$14.5K −$1.27/SF
EGI
$249.8K $21.77/SF
− OpEx
−$62.5K −$5.44/SF
NOI
$187.4K $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%
$3,747,640
Cap Rate 7%
$2,676,886
Cap Rate 9%
$2,082,022
Alternative Uses
Best Use
Office B
$2.68M
$2.34M – $3.12M
NOI $187,382 @ 7.0% cap · market cap 8.76%
Second Best
Warehouse
$1.67M
$1.47M – $1.95M
NOI $117,223 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,211 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,055
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 - DTE-zoned property combines warehouse bays with office and support areas.
Where is this flex space located?
The property is located at 2169 10th St Sarasota, FL.
What is the asking price?
The asking price for this property is $2,139,000.
What are key features of this property?
This property features: 11,475‑square‑foot flex property in Downtown Sarasota; DTE zoning; Two warehouse bays with 14‑foot grade‑level roll‑up doors
