Building Details

Building Size 38,072 SF

Year Built 1996

Buildings 2

Listing Agency: NAI TALCOR

Listed By: John W. McNeill, SIOR · License #FL #SL3173254 Show Phone

Source: Naiglobal

Added: Oct 30 Last Checked: Nov 1 at 2:22AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The manufacturing property includes a 28,400-square-foot main building with approximately 6,262 square feet of office space, plus substantial warehouse and operational areas. A separate 9,600-square-foot building offers open warehouse space. Multiple grade-level overhead doors and heavy electrical power serve the industrial facilities. The paved, fenced yard accommodates secured outdoor storage. The property was built in 1996.

Key Highlights

• 28,400‑square‑foot primary building with approximately 6,262 square feet of office space
• Separate 9,600‑square‑foot open warehouse building
• Paved, fenced yard for secured outdoor storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$296,687

Cap Rate

7.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,933,740 $5.9M

Cap Rate 7%

$4,238,386 $4.2M

Cap Rate 9%

$3,296,522 $3.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 38,072 SF

Gross rent

$365.5K $9.60/SF

− Vacancy

−$16.4K −$0.43/SF

EGI

$349.0K $9.17/SF

− OpEx

−$52.4K −$1.38/SF

NOI

$296.7K $7.79/SF

Area

Gadsden County, FL

Vacancy

4.50%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,933,740

Cap Rate 7%

$4,238,386

Cap Rate 9%

$3,296,522

Alternative Uses

Best Use

Warehouse

$4.24M

$3.71M – $4.94M (±1% cap)

NOI $296,687 @ 7.0% cap · market cap 7.06%

Second Best

Industrial

$3.69M

$3.23M – $4.30M (±1% cap)

NOI $258,242 @ 7.0% cap · market cap 6.15%

Theoretical Best

Office A

$9.33M

$8.17M – $10.89M (±1% cap)

NOI $653,352 @ 7.0% cap · market cap 15.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Apogee Signs (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick HVAC Service Locksmith Garden Center Cafe & Coffee Shop Kitchen & Bath Showroom Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

129

Businesses Nearby

Explore this area Business Placement

Demographics for 32343, FL

3,621

Population

1,308

Households

2.8

Avg Household Size

36

Median Age

25%

College-Educated

91%

High-School Grad

26.8 sq mi

ZIP Area

135

Density / Sq Mi

$60,735

Median Household Income

$42,308

Median Earnings

$1,002

Median Rent

$207,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Manufacturing property - A paved, fenced yard provides space for secured outdoor storage.

Where is this manufacturing property located?

The property is located at 251 Fortune Blvd Midway, FL.

What is the asking price?

The asking price for this property is $4,200,000.

What are key features of this property?

This property features: 28,400‑square‑foot primary building with approximately 6,262 square feet of office space; Separate 9,600‑square‑foot open warehouse building; Paved, fenced yard for secured outdoor storage