Flex Space with Warehouse
New
For Sale
$2,000,000
2953 63RD E, Bradenton, FL 34203
Multi-unit commercial property combines warehouse, office, substantial power, and updated interior finishes.
Property Size13,698 SF
Price / SF$146.01
Days on Market2
Property Features for 2953 63RD E
General Information
Standard status
Active
Size
13,698 SF
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
12,000 SF
Office Build-Out
1,700 SF
Power
900 amps
Voltage
480 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$16,732
Building Details
Building Size
13,698 SF
Year Built
1989
Listing Agency:
RoseBay International Realty, Inc.
(941) 720-1996
Listed By:
Michelle Jones · License #3344811
(941) 720-1996
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 6:57AM
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 RoseBay International Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1989, this flex property contains approximately 13,698 square feet across 11 units, including about 12,000 square feet of warehouse area and approximately 1,700 square feet of office space. The building has 55 tons of air conditioning, two bathrooms with six toilets and two urinals, double-pane exterior windows, and mature landscaping. Office areas have been refreshed with new carpet and paint.
Electrical service includes 900 amps of 3-phase 480-volt power and 400 amps of 120/240-volt service. The roof is 10 years old, and the structure was built one foot above the applicable code at the time of construction. The property is outside a flood zone and sits near 63rd Avenue East and New 301, within minutes of Sarasota/Bradenton Airport.
Electrical service includes 900 amps of 3-phase 480-volt power and 400 amps of 120/240-volt service. The roof is 10 years old, and the structure was built one foot above the applicable code at the time of construction. The property is outside a flood zone and sits near 63rd Avenue East and New 301, within minutes of Sarasota/Bradenton Airport.
Key Highlights
- Approximately 13,698 square feet configured as 11 units
- Warehouse area of approximately 12,000 square feet plus 1,700 square feet of offices
- 900 amps of 3‑phase 480‑volt power and 400 amps of 120/240‑volt service
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
$139,932
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
7.00%
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%
$2,798,640
$2.8M
Cap Rate 7%
$1,999,029
$2.0M
Cap Rate 9%
$1,554,800
$1.6M
Market Conditions
NOI Build-Up for 13,698 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
$171.0K $12.48/SF
− Vacancy
−$6.3K −$0.46/SF
EGI
$164.6K $12.02/SF
− OpEx
−$24.7K −$1.80/SF
NOI
$139.9K $10.22/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,798,640
Cap Rate 7%
$1,999,029
Cap Rate 9%
$1,554,800
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.33M
NOI $139,932 @ 7.0% cap · market cap 7.00%
Second Best
Flex RnD
$1.93M
$1.69M – $2.25M
NOI $134,998 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$4.03M
$3.52M – $4.70M
NOI $281,971 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-unit commercial property combines warehouse, office, substantial power, and updated interior finishes.
Where is this flex space located?
The property is located at 2953 63RD E Bradenton, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 13,698 square feet configured as 11 units; Warehouse area of approximately 12,000 square feet plus 1,700 square feet of offices; 900 amps of 3‑phase 480‑volt power and 400 amps of 120/240‑volt service
