Flex Space with Live-Work
For Sale
$550,000
6321 Porter Unit 2, Sarasota, FL 34240
Class B light industrial space combines office, warehouse, mezzanine, and attached studio areas.
Property Size1,935 SF
Price / SF$284.24
Days on Market139
Property Features for 6321 Porter Unit 2
General Information
Standard status
Active
Size
1,935 SF
Class
Class B
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
1
Additional Details
Office Units
1
Building Details
Year Built
2005
Listing Agency:
COLDWELL BANKER REALTY
(727) 686-2859
Listed By:
Estelia Mesimer · License #673072
Source:
Chenoregroup
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 30 at 7:42PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This Class B light industrial flex condo at 6321 Porter Road, Unit 2, combines a front office and reception area with a kitchen or conference room and a rear warehouse. The warehouse includes 22-foot clear ceilings and a 16-foot roll-up door, while a mezzanine adds office and storage capacity. An attached 1-bedroom studio supports a live-work configuration within the property. The 1,935-square-foot unit was built in 2005 and includes central air with zoned service for the office area. Its layout accommodates office functions, equipment storage, distribution, and vehicle access within one connected space.
Key Highlights
- 1,935‑square‑foot Class B light industrial flex condo
- Rear warehouse with 22‑foot clear ceilings
- 16‑foot roll‑up door provides vehicle access
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
$33,923
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
6.17%
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%
$678,460
$678.5K
Cap Rate 7%
$484,614
$484.6K
Cap Rate 9%
$376,922
$376.9K
Market Conditions
NOI Build-Up for 1,935 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
$58.1K $30.00/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$54.3K $28.05/SF
− OpEx
−$20.4K −$10.52/SF
NOI
$33.9K $17.53/SF
Area
Manatee County, FL
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$678,460
Cap Rate 7%
$484,614
Cap Rate 9%
$376,922
Alternative Uses
Best Use
Mixed Use
$484.6K
$424.0K – $565.4K
NOI $33,923 @ 7.0% cap · market cap 6.17%
Second Best
Office B
$451.4K
$395.0K – $526.6K
NOI $31,598 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$569.0K
$497.9K – $663.9K
NOI $39,832 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
1
Office units
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34240, FL
14,428
Population
7,570
Households
1.9
Avg Household Size
49
Median Age
52%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
217
Density / Sq Mi
$126,048
Median Household Income
$53,284
Median Earnings
$2,306
Median Rent
$622,100
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 - Class B light industrial space combines office, warehouse, mezzanine, and attached studio areas.
Where is this flex space located?
The property is located at 6321 Porter Unit 2 Sarasota, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,935‑square‑foot Class B light industrial flex condo; Rear warehouse with 22‑foot clear ceilings; 16‑foot roll‑up door provides vehicle access
