Warehouse Office Flex
For Sale
$425,000
607 Prairie Mine Road, Mulberry, FL 33860
Turnkey warehouse production space with ready office areas for manufacturing operations.
Property Size4,080 SF
Price / SF$104.17
Days on Market48
Property Features for 607 Prairie Mine Road
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Industrial - Manufacturing
Additional Details
Business Included
No
Building Details
Building Size
4,080 SF
Listing Agency:
Steinbauer Associates
Listed By:
Kyle Vreeland · License #BK3233818
(863) 877-2828
Source:
Commercialcafe
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 12 at 4:38AM
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 Steinbauer Associates
Investment Insights
Based on property information with market context.
This warehouse/office flex facility offers approximately 4,080+/- square feet designed to support a turnkey manufacturing operation. The layout includes dedicated office space along with a warehouse production area suited for in-house manufacturing workflows.
The property is offered for sale and is described as warehouse/office ready for immediate operational use, with office and production areas built into the same facility.
For buyers seeking a single-site setup that combines administrative space with a production-oriented warehouse, this configuration provides both office and manufacturing space within the overall footprint.
The property is offered for sale and is described as warehouse/office ready for immediate operational use, with office and production areas built into the same facility.
For buyers seeking a single-site setup that combines administrative space with a production-oriented warehouse, this configuration provides both office and manufacturing space within the overall footprint.
Key Highlights
- 4,080+/- SF warehouse/office space ready for a manufacturing operation
- Includes office space along with warehouse production area
- Set up for a turnkey manufacturing operation with ready production and office areas
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
$27,179
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
6.40%
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%
$543,580
$543.6K
Cap Rate 7%
$388,271
$388.3K
Cap Rate 9%
$301,989
$302.0K
Market Conditions
NOI Build-Up for 4,080 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
$34.7K $8.50/SF
− Vacancy
−$2.7K −$0.66/SF
EGI
$32.0K $7.84/SF
− OpEx
−$4.8K −$1.18/SF
NOI
$27.2K $6.66/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$8.50 /SF/Yr
Expense Ratio
15.00%
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%
$543,580
Cap Rate 7%
$388,271
Cap Rate 9%
$301,989
Alternative Uses
Best Use
Warehouse
$388.3K
$339.7K – $453.0K
NOI $27,179 @ 7.0% cap · market cap 6.40%
Second Best
Flex RnD
$313.7K
$274.5K – $366.0K
NOI $21,959 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$980.5K
$857.9K – $1.14M
NOI $68,632 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33860, FL
24,932
Population
9,649
Households
2.6
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
98.4 sq mi
ZIP Area
253
Density / Sq Mi
$62,779
Median Household Income
$37,688
Median Earnings
$1,150
Median Rent
$221,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Turnkey warehouse production space with ready office areas for manufacturing operations.
Where is this flex space located?
The property is located at 607 Prairie Mine Road Mulberry, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 4,080+/- SF warehouse/office space ready for a manufacturing operation; Includes office space along with warehouse production area; Set up for a turnkey manufacturing operation with ready production and office areas
