Flex Space with Showroom and
New
For Sale
$1,200,000
5149 Mariner Boulevard, Spring Hill, FL 34609
Versatile commercial facility combining customer-facing showroom space, offices, warehouse capacity, storage, and substantial parking.
Property Size8,872 SF
Price / SF$265.72
Days on Market1
Property Features for 5149 Mariner Boulevard
General Information
Standard status
Active
Size
8,872 SF
Occupancy
100%
Site & Location
Traffic Count
27,000 vehicles/day
Road Access
Yes
Warehouse & Industrial
Warehouse Space
4,356 SF
Office Build-Out
4,516 SF
Building Details
Year Built
1989
Buildings
1
Building Size
8,872 SF
Listing Agency:
KW REALTY ELITE PARTNERS
Listed By:
Sean Bradley · License #3346797
(352) 293-6089
Source:
Livewelltampabay
Added: Sep 14
Last Checked: Sep 14 at 2:47PM
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 KW REALTY ELITE PARTNERS
Investment Insights
Based on property information with market context.
This 8,872-square-foot flex property combines a professionally arranged showroom, private offices, bathrooms, warehouse space, and storage areas. Approximately 4,516 square feet is heated and cooled, with an additional 4,356 square feet dedicated to warehouse and storage use. The building also includes a two-story storage area and a 14' x 12' overhead door connecting the front portion to the warehouse. Three private offices and two bathrooms support the showroom configuration.
The property is positioned on Mariner Boulevard, with approximately 27,000 vehicles passing daily. More than 30 parking spaces serve customers, staff, and business operations. The property is fully leased, and tenant contact requires an appointment.
The property is positioned on Mariner Boulevard, with approximately 27,000 vehicles passing daily. More than 30 parking spaces serve customers, staff, and business operations. The property is fully leased, and tenant contact requires an appointment.
Key Highlights
- 8,872‑square‑foot building with office, showroom, warehouse, and storage areas
- Approximately 4,516 square feet heated and cooled
- Additional 4,356 square feet of warehouse and storage space
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
$58,148
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
4.85%
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%
$1,162,960
$1.2M
Cap Rate 7%
$830,686
$830.7K
Cap Rate 9%
$646,089
$646.1K
Market Conditions
NOI Build-Up for 4,516 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
$89.4K $19.80/SF
− Vacancy
−$6.3K −$1.41/SF
EGI
$83.1K $18.39/SF
− OpEx
−$24.9K −$5.52/SF
NOI
$58.1K $12.88/SF
Area
Spring Hill, FL
Vacancy
7.10%
Lease Rate
$19.80 /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%
$1,162,960
Cap Rate 7%
$830,686
Cap Rate 9%
$646,089
Alternative Uses
Best Use
Retail
$830.7K
$726.9K – $969.1K
NOI $58,148 @ 7.0% cap · market cap 4.85%
Second Best
Warehouse
$726.5K
$635.7K – $847.6K
NOI $50,854 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,070 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
27,000 VPD
Traffic count
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34609, FL
43,997
Population
18,426
Households
2.4
Avg Household Size
46
Median Age
22%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,284
Median Household Income
$40,789
Median Earnings
$1,593
Median Rent
$275,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combining customer-facing showroom space, offices, warehouse capacity, storage, and substantial parking.
Where is this flex space located?
The property is located at 5149 Mariner Boulevard Spring Hill, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8,872‑square‑foot building with office, showroom, warehouse, and storage areas; Approximately 4,516 square feet heated and cooled; Additional 4,356 square feet of warehouse and storage space
