Listing Agency: Ciminelli Real Estate Services - Proctor & Long Group Show Phone

Listed By: J. R. Long, CCIM Show Phone

Source: Moodyscre

Added: Aug 25, 2025 Changed: Oct 31 Last Checked: Nov 1 at 8:39AM

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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.

This fully air-conditioned retail/warehouse (flex) building is available for purchase in the 10/90 Industrial Park. The property is set up to function as five separate suites, or it can be occupied as a single tenant. The building’s retail-warehouse design provides flexible layout options for an owner-user seeking on-site operational convenience.

Located just off the interchange of Highway 90 and I-10 on Commerce Blvd, the building is positioned for visibility and accessibility. Neighboring businesses include Peterbilt, Bobcat, Sunbelt Rentals, Signs Now, Comfort Inn & Suites, and Baymont by Wyndham. Downtown Tallahassee is only a 20-minute drive.

With the current business relocating, the offering presents a retail use within the industrial park, supported by the property’s direct access to the area’s interstate network.

Key Highlights

• Fully air‑conditioned retail/warehouse (flex) building
• Configured for five separate suites or single‑tenant occupancy
• 10/90 Industrial Park retail presence within the park

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$189,530

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,790,600 $3.8M

Cap Rate 7%

$2,707,571 $2.7M

Cap Rate 9%

$2,105,889 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,514 SF

Gross rent

$292.7K $15.00/SF

− Vacancy

−$22.0K −$1.13/SF

EGI

$270.8K $13.88/SF

− OpEx

−$81.2K −$4.16/SF

NOI

$189.5K $9.71/SF

Area

Gadsden County, FL

Vacancy

7.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,790,600

Cap Rate 7%

$2,707,571

Cap Rate 9%

$2,105,889

Alternative Uses

Best Use

Retail

$2.71M

$2.37M – $3.16M (±1% cap)

NOI $189,530 @ 7.0% cap · market cap 6.42%

Second Best

Warehouse

$2.17M

$1.90M – $2.53M (±1% cap)

NOI $152,069 @ 7.0% cap · market cap 5.15%

Theoretical Best

Office A

$4.78M

$4.19M – $5.58M (±1% cap)

NOI $334,879 @ 7.0% cap · market cap 11.35%

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

Coastal Protective Products (Bike/Boat/Book/etc) Store Talon Tactical Outfitters (Bike/Boat/Book/etc) Store Talon Security, Inc. Security Service Reel Repair by ... Corporate Office Talon Holsters (Bike/Boat/Book/etc) Store

Suggested Use

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

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

129

Businesses Nearby

Well-served

Demand for This Use

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?

Flex space - Fully air-conditioned flex building can operate as five suites or as a single tenant setup in an industrial park.

Where is this flex space located?

The property is located at 301 Commerce Blvd Midway, FL.

What is the asking price?

The asking price for this property is $2,950,000.

What are key features of this property?

This property features: Fully air‑conditioned retail/warehouse (flex) building; Configured for five separate suites or single‑tenant occupancy; 10/90 Industrial Park retail presence within the park