Sanford Industrial Park Investment
For Sale
Contact for pricing
3650-3735 Naseem Ln, Sanford, FL
Fully leased industrial park near Orlando Sanford International Airport.
Property Size37,800 SF
Lot Size3.19 Acres
Price / SF$158.73
Days on Market864
Property Features for 3650-3735 Naseem Ln
General Information
Standard status
Active
Size
37,800 SF
Lot size
3.19 Acres
Property subtype
INDUSTRIAL
Listing Agency:
NAI Realvest | Orlando
(407) 949-0758
Listed By:
Paul P. Partyka · License #675481
Source:
Moodyscre
Added: Apr 18, 2024
Changed: Aug 15
Last Checked: Aug 28 at 7:07PM
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 NAI Realvest | Orlando
Investment Insights
Based on property information with market context.
This industrial investment opportunity is located in the fast-growing Sanford Airport area. The Delphini Industrial Park consists of 10 individual condo buildings totaling 37,800 square feet on 2.33 acres. Constructed with metal buildings and roofs, each building is equipped with 3-phase, 400 amp electrical service. The units feature 14’ x 12’ grade-level overhead doors and an 18’ clear height. The property is 100% leased and offers a 6.7% Cap Rate as of June 1, 2024. The GC-2 zoning allows for commercial and light industrial uses. Situated directly across the street from Orlando Sanford International Airport, the property provides easy access to SR 46, Lake Mary Blvd, US Hwy 17-92, SR 417 (Greeneway), and I-4. The property offers multiple options for a buyer: buy and hold, or sell individual buildings.
Key Highlights
- Rare industrial investment opportunity in fast‑growing Sanford Airport area.
- 100% leased with a 6.7% Cap Rate as of 06/01/24.
- Multiple options: buy and hold or sell individual buildings.
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
$256,409
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
4.27%
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%
$5,128,180
$5.1M
Cap Rate 7%
$3,662,986
$3.7M
Cap Rate 9%
$2,848,989
$2.8M
Market Conditions
NOI Build-Up for 37,800 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
$331.1K $8.76/SF
− Vacancy
−$29.5K −$0.78/SF
EGI
$301.7K $7.98/SF
− OpEx
−$45.2K −$1.20/SF
NOI
$256.4K $6.78/SF
Area
Seminole County, FL
Vacancy
8.90%
Lease Rate
$8.76 /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%
$5,128,180
Cap Rate 7%
$3,662,986
Cap Rate 9%
$2,848,989
Alternative Uses
Best Use
Warehouse
$3.66M
$3.21M – $4.27M
NOI $256,409 @ 7.0% cap · market cap 4.27%
Second Best
Industrial
$3.02M
$2.64M – $3.52M
NOI $211,160 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$10.76M
$9.41M – $12.55M
NOI $752,976 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased industrial park near Orlando Sanford International Airport.
Where is this flex space located?
The property is located at 3650-3735 Naseem Ln Sanford, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Rare industrial investment opportunity in fast‑growing Sanford Airport area.; 100% leased with a **6.7% Cap Rate** as of 06/01/24.; Multiple options: buy and hold or sell individual buildings.
