Flex Space with
For Sale
$3,580,000
2398 63RD E, Bradenton, FL 34203
Two upgraded buildings combine office, warehouse, loading, and covered outdoor work areas on a sizable commercial site.
Property Size3,000 SF
Lot Size2.40 Acres
Price / SF$216.97
Days on Market15
Property Features for 2398 63RD E
General Information
Standard status
Active
Size
3,000 SF
Lot size
2.40 Acres
Property subtype
Industrial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
21 ft
Drive-In Doors
3
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$20,256
Building Details
Building Size
3,000 SF
Year Built
1981
Buildings
2
Listing Agency:
RE/MAX ALLIANCE GROUP
(813) 579-7379
Listed By:
Yingyi Xu · License #3218790
(813) 579-7379
Source:
Elliman
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 5:06PM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
This flex-space property includes two upgraded buildings totaling 16,500 SF on a 2.4-acre site. Building A contains a 2,500 SF showroom and office component, a 7,500 SF warehouse, three loading docks, and a 2,000 SF covered outdoor workstation. Building B adds 4,500 SF of warehouse area, a private office, and three level loading doors.
The property fronts 63rd Street in Bradenton and provides 30+ dedicated parking spaces, additional yard storage, and a retention pond. Interior capacity includes 21-foot clear heights and 3-phase power. The site has minimal vegetation and may support footprint expansion or future development. The property information identifies potential applications including light manufacturing, fitness, showroom, logistics, and religious-facility uses.
The property fronts 63rd Street in Bradenton and provides 30+ dedicated parking spaces, additional yard storage, and a retention pond. Interior capacity includes 21-foot clear heights and 3-phase power. The site has minimal vegetation and may support footprint expansion or future development. The property information identifies potential applications including light manufacturing, fitness, showroom, logistics, and religious-facility uses.
Key Highlights
- 16,500 SF across two upgraded buildings on 2.4 acres
- Building A includes a 2,500 SF showroom/office and 7,500 SF warehouse
- Building B provides 4,500 SF of warehouse space with a private office
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
$269,438
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
7.53%
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%
$5,388,760
$5.4M
Cap Rate 7%
$3,849,114
$3.8M
Cap Rate 9%
$2,993,756
$3.0M
Market Conditions
NOI Build-Up for 16,500 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
$380.2K $23.04/SF
− Vacancy
−$20.9K −$1.27/SF
EGI
$359.3K $21.77/SF
− OpEx
−$89.8K −$5.44/SF
NOI
$269.4K $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%
$5,388,760
Cap Rate 7%
$3,849,114
Cap Rate 9%
$2,993,756
Alternative Uses
Best Use
Office B
$3.85M
$3.37M – $4.49M
NOI $269,438 @ 7.0% cap · market cap 7.53%
Second Best
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,556 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$4.85M
$4.25M – $5.66M
NOI $339,649 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21 ft
Clear height
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
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 - Two upgraded buildings combine office, warehouse, loading, and covered outdoor work areas on a sizable commercial site.
Where is this flex space located?
The property is located at 2398 63RD E Bradenton, FL.
What is the asking price?
The asking price for this property is $3,580,000.
What are key features of this property?
This property features: 16,500 SF across two upgraded buildings on 2.4 acres; Building A includes a 2,500 SF showroom/office and 7,500 SF warehouse; Building B provides 4,500 SF of warehouse space with a private office
