Renovated Multi-Tenant Industrial
For Sale
Contact for pricing
2223 9th St W, Bradenton, FL 34205
Renovated 8-unit industrial flex property with updated functionality and current 70% occupancy.
Property Size5,200 SF
Lot Size0.50 Acres
Price / SF$307.69
Days on Market161
Property Features for 2223 9th St W
General Information
Standard status
Active
Size
5,200 SF
Class
C
Lot size
0.50 Acres
Property subtype
Industrial, Mixed Use, Office, Retail, Self Storage
Zoning
T4-O
Occupancy
70%
Lease Type
Gross
Investment Type
Net Lease
Net Operating Income
$70,000
Additional Details
Highway Access
Yes
Building Details
Year Built
1945
Year Renovated
2021
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
NDC Commercial Real Estate
Listed By:
Gavin Oberlin · License #SL3461965
Source:
Crexi
Added: Apr 1
Changed: Sep 3
Last Checked: Sep 8 at 5:38AM
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 NDC Commercial Real Estate
Investment Insights
Based on property information with market context.
2223 9TH ST W is a renovated, multi-tenant industrial flex property originally built in 1949 and extensively renovated in 2021. The building comprises 8 units and is described as offering a flexible layout suitable for industrial, manufacturing, and light commercial uses. The asset is currently 70% occupied, providing in-place income alongside additional lease-up potential.
The property sits on approximately 0.495 acres at 2223 9th Street West in Bradenton, FL 34205. It is zoned T4-O and positioned to provide convenient access to major transportation corridors, including I-75, Sarasota-Bradenton International Airport, Port Manatee, and Lakewood Ranch.
At approximately 6,656 SF, the configuration supports multiple tenants within a single building, with a modernized functionality following the 2021 renovation.
The property sits on approximately 0.495 acres at 2223 9th Street West in Bradenton, FL 34205. It is zoned T4-O and positioned to provide convenient access to major transportation corridors, including I-75, Sarasota-Bradenton International Airport, Port Manatee, and Lakewood Ranch.
At approximately 6,656 SF, the configuration supports multiple tenants within a single building, with a modernized functionality following the 2021 renovation.
Key Highlights
- 8‑unit renovated industrial flex property on approx. 0.495 acres
- 6,656 SF building with flexible layout for industrial, manufacturing, and light commercial uses
- Extensively renovated in 2021; originally built in 1949
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
$51,248
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
3.20%
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%
$1,024,960
$1.0M
Cap Rate 7%
$732,114
$732.1K
Cap Rate 9%
$569,422
$569.4K
Market Conditions
NOI Build-Up for 5,200 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
$83.0K $15.96/SF
− Vacancy
−$4.1K −$0.80/SF
EGI
$78.8K $15.16/SF
− OpEx
−$27.6K −$5.31/SF
NOI
$51.2K $9.86/SF
Area
Manatee County, FL
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,024,960
Cap Rate 7%
$732,114
Cap Rate 9%
$569,422
Alternative Uses
Best Use
Flex RnD
$732.1K
$640.6K – $854.1K
NOI $51,248 @ 7.0% cap · market cap 3.20%
Second Best
Industrial
$624.9K
$546.8K – $729.1K
NOI $43,746 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,041 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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 - Renovated 8-unit industrial flex property with updated functionality and current 70% occupancy.
Where is this flex space located?
The property is located at 2223 9th St W Bradenton, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 8‑unit renovated industrial flex property on approx. 0.495 acres; 6,656 SF building with flexible layout for industrial, manufacturing, and light commercial uses; Extensively renovated in 2021; originally built in 1949
