Flex Space with
For Sale
Under Contract
$1,295,000
5401 PALMER Boulevard, Sarasota, FL 34232
Commercial Sale, SARASOTA, FL
Property Size4,000 SF
Lot Size0.51 Acres
Price / SF$323.75
Days on Market17
Property Features for 5401 PALMER Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CI
Subdivision
BROADWAY
Directions
From Honere and Palmer Blvd Traffic Circle head East. Property is on the Left.
Standard status
Active Under Contract
APN
0048050058
Size
4,000 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1, 2 & 3 LESS THE E 25.88 FT OF LOT 3 & LOTS 24 & 23 LESS THE E 8.53 FT OF LOT 23, BLK K BROADWAY LESS PALMER BLVD R/W IN RPB 3 PG 46
Tax Annual Amount
10609
Legal Description
LOTS 1, 2 & 3 LESS THE E 25.88 FT OF LOT 3 & LOTS 24 & 23 LESS THE E 8.53 FT OF LOT 23, BLK K BROADWAY LESS PALMER BLVD R/W IN RPB 3 PG 46
Utilities
Cooling system
Central Air
Amenities
conference room
Building Details
Year built
1974
Floors in Building
1
Building materials
Metal Frame
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Austin Hager · License #3389033
(941) 254-3199
Added: Aug 5
Changed: Aug 20
Last Checked: Aug 21 at 6:06PM
MLS# A4702054
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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 building includes three private offices, a conference room, and climate-controlled storage areas. A separate storage shed adds capacity for equipment, inventory, or supplies. Constructed with a metal frame and equipped with central air, the property was built in 1974 and has been maintained for ongoing commercial use.
The property occupies 0.51 acres at 5401 Palmer Boulevard in Sarasota, Florida. CI zoning supports its commercial positioning, while the combination of showroom, offices, conference space, and enclosed storage provides a functional configuration for an owner-user or commercial operator.
The property occupies 0.51 acres at 5401 Palmer Boulevard in Sarasota, Florida. CI zoning supports its commercial positioning, while the combination of showroom, offices, conference space, and enclosed storage provides a functional configuration for an owner-user or commercial operator.
Key Highlights
- 4,000 square feet of flex space on 0.51 acres
- Showroom with three private offices and a 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
$49,190
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
3.80%
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%
$983,800
$983.8K
Cap Rate 7%
$702,714
$702.7K
Cap Rate 9%
$546,556
$546.6K
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
$72.0K $18.00/SF
− Vacancy
−$1.7K −$0.43/SF
EGI
$70.3K $17.57/SF
− OpEx
−$21.1K −$5.27/SF
NOI
$49.2K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /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%
$983,800
Cap Rate 7%
$702,714
Cap Rate 9%
$546,556
Alternative Uses
Best Use
Retail
$702.7K
$614.9K – $819.8K
NOI $49,190 @ 7.0% cap · market cap 3.80%
Second Best
Flex RnD
$563.2K
$492.8K – $657.0K
NOI $39,421 @ 7.0% cap · market cap 3.04%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
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 Industrial 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 layout includes private offices, conference space, and climate-controlled storage.
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 feet of flex space on 0.51 acres; Showroom with three private offices and a conference room; Climate‑controlled storage areas within the building
