Flex Space with Two
For Sale
$2,139,000
2169 10TH Street, Sarasota, FL 34237
Commercial Sale, SARASOTA, FL
Property Size11,475 SF
Lot Size0.47 Acres
Price / SF$186.41
Days on Market70
Property Features for 2169 10TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTE
Appliances
Dishwasher, Refrigerator
Subdivision
WALPOLE FRANK A
Lot features
Near Railroad Siding
Directions
Drive South on Washington BLVD/301 towards Downtown Sarasota. Take a Left on 10th St, continue to the end of the Road. The building will be on your left.
Standard status
Active
APN
2028040009
Size
11,475 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 8, 9, 10 & 11, BLK A, FRANK A WALPOLE SUB TOGETHER WITH BEG AT NW COR OF SAID LOT 8 TH N 27 FT TH SELY 102 FT M/L TH S 4 FT TO NE COR OF SAID LOT 9 TH W 100 FT TO POB, LESS PORTION OF SAID
Tax Annual Amount
3820
Legal Description
LOTS 8, 9, 10 & 11, BLK A, FRANK A WALPOLE SUB TOGETHER WITH BEG AT NW COR OF SAID LOT 8 TH N 27 FT TH SELY 102 FT M/L TH S 4 FT TO NE COR OF SAID LOT 9 TH W 100 FT TO POB, LESS PORTION OF SAID
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Membrane
Listing Agency:
COMPASS FLORIDA LLC
(941) 279-3630
Listed By:
Colby Lengel · License #3335175
(941) 779-6227
Added: Jun 17
Changed: Aug 24
Last Checked: Aug 25 at 1:06AM
MLS# A4697336
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11,475-square-foot flex property, built in 1971, combines warehouse functionality with dedicated administrative and support areas. The building contains two bays with 14-foot grade-level roll-up doors, plus a first-floor reception area, private office, kitchen, and restroom. Two loft-style offices and a mezzanine add additional interior work space. Block and concrete construction, concrete flooring, central air, electric heating, and a membrane roof complete the improvements.
Located at 2169 10TH Street in Sarasota, the property includes a 0.47-acre lot with grassy open space on the east side. Public water and public sewer serve the site, while DTE zoning and the flexible configuration support a range of commercial and light industrial operations identified for the property.
Located at 2169 10TH Street in Sarasota, the property includes a 0.47-acre lot with grassy open space on the east side. Public water and public sewer serve the site, while DTE zoning and the flexible configuration support a range of commercial and light industrial operations identified for the property.
Key Highlights
- 11,475‑square‑foot flex property on a 0.47‑acre lot
- Two warehouse bays with 14‑foot grade‑level roll‑up doors
- DTE zoning
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
$117,223
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
5.48%
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%
$2,344,460
$2.3M
Cap Rate 7%
$1,674,614
$1.7M
Cap Rate 9%
$1,302,478
$1.3M
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
$143.2K $12.48/SF
− Vacancy
−$5.3K −$0.46/SF
EGI
$137.9K $12.02/SF
− OpEx
−$20.7K −$1.80/SF
NOI
$117.2K $10.22/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,344,460
Cap Rate 7%
$1,674,614
Cap Rate 9%
$1,302,478
Alternative Uses
Best Use
Warehouse
$1.67M
$1.47M – $1.95M
NOI $117,223 @ 7.0% cap · market cap 5.48%
Second Best
Flex RnD
$1.62M
$1.41M – $1.88M
NOI $113,090 @ 7.0% cap · market cap 5.29%
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
Lease Details
2
Drive-in doors
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - DTE-zoned property with office support areas, loft spaces, and an east-side open lot in central Sarasota.
Where is this flex space located?
The property is located at 2169 10TH Street 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 on a 0.47‑acre lot; Two warehouse bays with 14‑foot grade‑level roll‑up doors; DTE zoning
