Fenced Flex Space with Drive-In
For Sale
$2,000,000
5508 BENCHMARK Lane, Sanford, FL 32773
Commercial Sale, SANFORD, FL
Property Size10,898 SF
Lot Size1.00 Acre
Price / SF$183.52
Days on Market92
Property Features for 5508 BENCHMARK Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-1
Subdivision
MIDWAY COMMERCE CENTER 1ST ADD
Directions
Located in Sanford, FL
Standard status
Active
APN
22-20-30-510-0000-0230
Size
10,898 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 23 MIDWAY COMMERCE CENTER 1ST ADD PB 37 PGS 59 & 60
Tax Annual Amount
9264
Legal Description
LOT 23 MIDWAY COMMERCE CENTER 1ST ADD PB 37 PGS 59 & 60
Utilities
Cooling system
Central Air
Amenities
Fully fenced in
16 Drive in bays
Building Details
Year built
1988
Floors in Building
1
Building materials
Block
Listing Agency:
COMMERCIAL REAL ESTATE PROF IN
Listed By:
Mark Allen
(407) 737-9797
Added: Jun 11
Changed: Aug 20
Last Checked: Sep 10 at 1:06PM
MLS# O6416088
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 multi-tenant flex property combines office and warehouse space within a block-constructed building completed in 1988. The 10,898-square-foot improvement includes 16 drive-in bays, central air, and ample parking on a fully fenced 1.00-acre lot. M-1 zoning is in place for the property.
The site is positioned in Sanford’s industrial area with access to N. Ronald Reagan Boulevard, Highway 17, and State Road 419. Its office-and-warehouse configuration, multiple drive-in bays, and secured perimeter provide a practical setup for businesses requiring a combination of workspace, storage, and vehicle access.
The site is positioned in Sanford’s industrial area with access to N. Ronald Reagan Boulevard, Highway 17, and State Road 419. Its office-and-warehouse configuration, multiple drive-in bays, and secured perimeter provide a practical setup for businesses requiring a combination of workspace, storage, and vehicle access.
Key Highlights
- 10,898 square feet on a 1.00‑acre lot
- 16 drive‑in bays
- M‑1 zoning
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Multi-tenant office and warehouse flex building with central air and a fully fenced site.
Where is this flex space located?
The property is located at 5508 BENCHMARK Lane 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: 10,898 square feet on a 1.00‑acre lot; 16 drive‑in bays; M‑1 zoning
