Renovated Multi-Unit Industrial
For Sale
$1,600,000
2223 9th Street West, Bradenton, FL 34205
Renovated industrial building with eight units, zoned T4-O, currently 70% occupied.
Property Size6,656 SF
Price / SF$240.38
Days on Market50
Property Features for 2223 9th Street West
General Information
Standard status
Active
Size
6,656 SF
Property subtype
Industrial
Zoning
T4-O
Occupancy
70%
Building Details
Year Built
1949
Year Renovated
2021
Listing Agency:
(941) 720-0403
Listed By:
Gavin Oberlin · License #FL #SL3461965
(941) 720-0403
Source:
Ndc-commercial
Added: Jun 24
Changed: Jul 10
Last Checked: Aug 12 at 5:07AM
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 Gavin Oberlin
Investment Insights
Based on property information with market context.
This property is a multi-unit industrial and manufacturing building totaling 6,656 SF. Built in 1949 and extensively refurbished in 2021, it contains eight separate units designed for industrial and manufacturing use. The zoning is T4-O, providing flexibility for a range of industrial ventures within the existing configuration.
Located at 2223 9th Street West in Bradenton, Florida, the facility is described as strategically positioned within the Sarasota area. The current operating snapshot shows the building at 70% occupancy, indicating the space is already being utilized while remaining portion is available for continued leasing.
For buyers or operators seeking an industrial asset with multiple income streams, the eight-unit layout can support a tenant mix tailored to industrial and manufacturing requirements under the T4-O zoning umbrella. The combination of a historically built structure and a 2021 renovation may appeal to users looking for an updated facility that still fits traditional industrial needs.
Located at 2223 9th Street West in Bradenton, Florida, the facility is described as strategically positioned within the Sarasota area. The current operating snapshot shows the building at 70% occupancy, indicating the space is already being utilized while remaining portion is available for continued leasing.
For buyers or operators seeking an industrial asset with multiple income streams, the eight-unit layout can support a tenant mix tailored to industrial and manufacturing requirements under the T4-O zoning umbrella. The combination of a historically built structure and a 2021 renovation may appeal to users looking for an updated facility that still fits traditional industrial needs.
Key Highlights
- 6,656 SF industrial/manufacturing building with eight units
- Built in 1949 and extensively renovated in 2021
- Zoned T4‑O, offering flexibility for industrial and manufacturing uses
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
$55,995
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
3.50%
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%
$1,119,900
$1.1M
Cap Rate 7%
$799,929
$799.9K
Cap Rate 9%
$622,167
$622.2K
Market Conditions
NOI Build-Up for 6,656 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
$83.1K $12.48/SF
− Vacancy
−$3.1K −$0.46/SF
EGI
$80.0K $12.02/SF
− OpEx
−$24.0K −$3.61/SF
NOI
$56.0K $8.41/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /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%
$1,119,900
Cap Rate 7%
$799,929
Cap Rate 9%
$622,167
Alternative Uses
Best Use
Industrial
$799.9K
$699.9K – $933.3K
NOI $55,995 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,012 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
70%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
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?
Manufacturing property - Renovated industrial building with eight units, zoned T4-O, currently 70% occupied.
Where is this manufacturing property located?
The property is located at 2223 9th Street West 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: 6,656 SF industrial/manufacturing building with eight units; Built in 1949 and extensively renovated in 2021; Zoned T4‑O, offering flexibility for industrial and manufacturing uses
