Multi-Tenant Office/Warehouse
For Sale
$2,000,000
5508 BENCHMARK LANE #112, Sanford, FL 32773
M1-zoned flex building with fully fenced yard and 16 drive-in bays for warehouse and light office operations.
Property Size10,898 SF
Lot Size1.00 Acre
Price / SF$183.52
Days on Market62
Property Features for 5508 BENCHMARK LANE #112
General Information
Standard status
Active
Size
10,898 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
M1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
16
Taxes and HOA fees
Annual Taxes
$9,264
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
COMMERCIAL REAL ESTATE PROF IN
(407) 737-9797
Listed By:
MARK ALLEN
Source:
Corcoran
Added: Jun 12
Changed: Aug 11
Last Checked: Aug 12 at 6:51AM
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 COMMERCIAL REAL ESTATE PROF IN
Investment Insights
Based on property information with market context.
This for-sale flex property offers a multi-tenant office/warehouse configuration designed to support both workspace and warehousing needs. The site is fully fenced and includes ample parking, along with 16 drive-in bays for practical, loading-focused access.
The property is located in an industrial area in Sanford, Florida, with easy access to N. Ronald Reagan Blvd, Highway 17, and State Road 419. The building sits on a 1.00-acre lot, providing defined boundaries and on-site circulation for day-to-day operations.
Zoned M1, the space is well suited for tenants seeking a warehouse-driven setup with associated office functionality within a shared building. With multiple drive-in bays and off-street parking, the property supports frequent deliveries and efficient vehicle movement, making it a workable option for operators that need direct loading capability alongside office space.
The property is located in an industrial area in Sanford, Florida, with easy access to N. Ronald Reagan Blvd, Highway 17, and State Road 419. The building sits on a 1.00-acre lot, providing defined boundaries and on-site circulation for day-to-day operations.
Zoned M1, the space is well suited for tenants seeking a warehouse-driven setup with associated office functionality within a shared building. With multiple drive-in bays and off-street parking, the property supports frequent deliveries and efficient vehicle movement, making it a workable option for operators that need direct loading capability alongside office space.
Key Highlights
- M1‑zoned multi‑tenant office/warehouse flex building built in 1988
- Over 10,898 SF on a 1.00‑acre lot
- Fully fenced property with ample parking
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
$162,816
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
8.14%
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%
$3,256,320
$3.3M
Cap Rate 7%
$2,325,943
$2.3M
Cap Rate 9%
$1,809,067
$1.8M
Market Conditions
NOI Build-Up for 10,898 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
$261.6K $24.00/SF
− Vacancy
−$44.5K −$4.08/SF
EGI
$217.1K $19.92/SF
− OpEx
−$54.3K −$4.98/SF
NOI
$162.8K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$3,256,320
Cap Rate 7%
$2,325,943
Cap Rate 9%
$1,809,067
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.71M
NOI $162,816 @ 7.0% cap · market cap 8.14%
Second Best
Warehouse
$1.06M
$924.1K – $1.23M
NOI $73,924 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,088 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32773, FL
33,990
Population
13,402
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
1,232
Density / Sq Mi
$63,496
Median Household Income
$40,479
Median Earnings
$1,482
Median Rent
$259,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - M1-zoned flex building with fully fenced yard and 16 drive-in bays for warehouse and light office operations.
Where is this flex space located?
The property is located at 5508 BENCHMARK LANE #112 Sanford, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: M1‑zoned multi‑tenant office/warehouse flex building built in 1988; Over 10,898 SF on a 1.00‑acre lot; Fully fenced property with ample parking
