Multi-Tenant Flex
For Sale
Contact for pricing
2711 Airport Rd, Plant City, FL 33563
Suites provide 3-phase power and grade-level loading for light industrial users.
Property Size20,000 SF
Price / SF$165
Days on Market55
Property Features for 2711 Airport Rd
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Industrial
Zoning
Light Industrial (PD)
Occupancy
75%
Investment Type
Stabilized
Additional Details
Three-Phase Power
Yes
Building Details
Buildings
1
Units
5
Tenancy
Multi
Building Size
20,000 SF
Listing Agency:
Saunders Real Estate
(863) 315-4595
Listed By:
Vinh Dawkins · License #SL3611309
Source:
Crexi
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 2:50PM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
This 20,000 SF flex space property comprises a multi-tenant industrial building with five suites. The building is 75% leased, with two vacant suites and a mix of month-to-month occupancy and one near-term lease expiration. Office build-out differs by suite, while mezzanine areas vary and are excluded from the reported total square footage. Each suite includes 3-phase power and grade-level loading, supporting light industrial operations. The property is zoned Light Industrial (PD).
Located at 2711 Airport Rd in Plant City, Florida, the building is within Woodside Airport Industrial Park and near aviation facilities and regional industrial infrastructure. Its position in a Plant City industrial corridor provides an established setting for multi-tenant flex space.
Located at 2711 Airport Rd in Plant City, Florida, the building is within Woodside Airport Industrial Park and near aviation facilities and regional industrial infrastructure. Its position in a Plant City industrial corridor provides an established setting for multi-tenant flex space.
Key Highlights
- 20,000 SF multi‑tenant industrial building
- 75% leased across five suites
- Two vacant suites provide available space within the building
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
$242,903
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
7.36%
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%
$4,858,060
$4.9M
Cap Rate 7%
$3,470,043
$3.5M
Cap Rate 9%
$2,698,922
$2.7M
Market Conditions
NOI Build-Up for 20,000 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
$367.2K $18.36/SF
− Vacancy
−$20.2K −$1.01/SF
EGI
$347.0K $17.35/SF
− OpEx
−$104.1K −$5.21/SF
NOI
$242.9K $12.15/SF
Area
Hillsborough County, FL
Vacancy
5.50%
Lease Rate
$18.36 /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%
$4,858,060
Cap Rate 7%
$3,470,043
Cap Rate 9%
$2,698,922
Alternative Uses
Best Use
Industrial
$3.47M
$3.04M – $4.05M
NOI $242,903 @ 7.0% cap · market cap 7.36%
Second Best
Flex RnD
$3.08M
$2.69M – $3.59M
NOI $215,280 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$5.79M
$5.07M – $6.76M
NOI $405,450 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33563, FL
27,344
Population
10,794
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
15.1 sq mi
ZIP Area
1,811
Density / Sq Mi
$56,318
Median Household Income
$35,142
Median Earnings
$1,226
Median Rent
$197,500
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 - Suites provide 3-phase power and grade-level loading for light industrial users.
Where is this flex space located?
The property is located at 2711 Airport Rd Plant City, FL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 20,000 SF multi‑tenant industrial building; 75% leased across five suites; Two vacant suites provide available space within the building
