Maintained Flex Space with
For Sale
$1,295,000
5401 Palmer Boulevard, Sarasota, FL 34232
Professional showroom, private offices, conference space, and climate-controlled storage support varied business operations.
Property Size4,000 SF
Price / SF$323.75
Days on Market8
Property Features for 5401 Palmer Boulevard
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$10,609
Amenities
professional showroom
three private offices
spacious conference room
climate-controlled storage
additional storage shed
Central Air
3
Building Details
Year Built
1974
Buildings
1
Listing Agency:
RE/MAX ALLIANCE GROUP
(941) 954-5454
Listed By:
Austin Hager · License #3389033
Source:
Xome
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 5:28AM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
This 4,000-square-foot flex property combines a customer-facing showroom with practical workspace and storage. The interior includes 3 private offices, a conference room, and climate-controlled storage areas, creating a configuration suited to business operations requiring both professional presentation and organized inventory or equipment space. Central Air is provided, and the building was constructed in 1974.
An additional storage shed expands the property’s on-site storage capacity for equipment, supplies, or inventory. The property is located at 5401 Palmer Boulevard in Sarasota, Florida, providing a commercial setting with showroom, office, meeting, and storage components in one facility.
An additional storage shed expands the property’s on-site storage capacity for equipment, supplies, or inventory. The property is located at 5401 Palmer Boulevard in Sarasota, Florida, providing a commercial setting with showroom, office, meeting, and storage components in one facility.
Key Highlights
- 4,000‑square‑foot flex property with a professional showroom
- 3 private offices and a dedicated conference room
- Climate‑controlled storage areas 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
$65,318
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
5.04%
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%
$1,306,360
$1.3M
Cap Rate 7%
$933,114
$933.1K
Cap Rate 9%
$725,756
$725.8K
Market Conditions
NOI Build-Up for 4,000 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
$92.2K $23.04/SF
− Vacancy
−$5.1K −$1.27/SF
EGI
$87.1K $21.77/SF
− OpEx
−$21.8K −$5.44/SF
NOI
$65.3K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,306,360
Cap Rate 7%
$933,114
Cap Rate 9%
$725,756
Alternative Uses
Best Use
Office B
$933.1K
$816.5K – $1.09M
NOI $65,318 @ 7.0% cap · market cap 5.04%
Second Best
Retail
$702.7K
$614.9K – $819.8K
NOI $49,190 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,339 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34232, FL
34,671
Population
17,248
Households
2
Avg Household Size
47
Median Age
34%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
3,152
Density / Sq Mi
$81,041
Median Household Income
$44,166
Median Earnings
$1,836
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Professional showroom, private offices, conference space, and climate-controlled storage support varied business operations.
Where is this flex space located?
The property is located at 5401 Palmer Boulevard Sarasota, FL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 4,000‑square‑foot flex property with a professional showroom; 3 private offices and a dedicated conference room; Climate‑controlled storage areas within the building
