Industrial Flex Space With
For Sale
Contact for pricing
2311 Whitfield Industrial Way Bldg 2, Sarasota, FL 34243
Versatile industrial space combines open warehouse operations with finished offices, private restrooms, three-phase power, and grade-level loading.
Property Size4,100 SF
Price / SF$280.49
Days on Market35
Property Features for 2311 Whitfield Industrial Way Bldg 2
General Information
Standard status
Active
Size
4,100 SF
Class
B
Property subtype
Industrial
Zoning
HM
Investment Type
Owner/User
Building Details
Year Built
1983
Stories
1
Units
1
Listing Agency:
Loyd Robbins & Co
(941) 957-9300
Listed By:
Loyd Robbins · License #FL 3577625
Source:
Crexi
Added: Jul 28
Changed: Aug 21
Last Checked: Aug 29 at 12:11AM
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 Loyd Robbins & Co
Investment Insights
Based on property information with market context.
This 4,100±-square-foot flex property combines 3,500± SF of open warehouse area with 600± SF of finished office space. The interior includes an open floor plan, two private restrooms, and an office arrangement suited to administrative functions. Three-phase power supports industrial operations, while two grade-level overhead doors provide direct loading access. The building was constructed in 1983 and is designated HM under the stated zoning.
The property is located at 2311 Whitfield Industrial Way Bldg 2, Sarasota, FL 34243. Access is identified to US-41, I-75, and Sarasota-Bradenton International Airport. Nine on-site parking spaces are included, adding practical support for warehouse and office use.
The property is located at 2311 Whitfield Industrial Way Bldg 2, Sarasota, FL 34243. Access is identified to US-41, I-75, and Sarasota-Bradenton International Airport. Nine on-site parking spaces are included, adding practical support for warehouse and office use.
Key Highlights
- 4,100± total square feet with 3,500± SF of warehouse and 600± SF of finished office space
- Two grade‑level overhead doors for loading and unloading
- Three‑phase power and an open warehouse floor plan
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
$66,951
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
5.82%
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%
$1,339,020
$1.3M
Cap Rate 7%
$956,443
$956.4K
Cap Rate 9%
$743,900
$743.9K
Market Conditions
NOI Build-Up for 4,100 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
$94.5K $23.04/SF
− Vacancy
−$5.2K −$1.27/SF
EGI
$89.3K $21.77/SF
− OpEx
−$22.3K −$5.44/SF
NOI
$67.0K $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%
$1,339,020
Cap Rate 7%
$956,443
Cap Rate 9%
$743,900
Alternative Uses
Best Use
Office B
$956.4K
$836.9K – $1.12M
NOI $66,951 @ 7.0% cap · market cap 5.82%
Second Best
Warehouse
$598.3K
$523.6K – $698.1K
NOI $41,884 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,398 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
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 - Versatile industrial space combines open warehouse operations with finished offices, private restrooms, three-phase power, and grade-level loading.
Where is this flex space located?
The property is located at 2311 Whitfield Industrial Way Bldg 2 Sarasota, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,100± total square feet with 3,500± SF of warehouse and 600± SF of finished office space; Two grade‑level overhead doors for loading and unloading; Three‑phase power and an open warehouse floor plan
