Freestanding Flex
For Sale
$2,200,000
718 60TH STREET E, Bradenton, FL 34208
Existing tenancy and durable building features support a stabilized flex-space profile.
Property Size6,450 SF
Days on Market10
Property Features for 718 60TH STREET E
General Information
Standard status
Active
Size
6,450 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,757
Building Details
Building Size
6,450 SF
Year Built
2007
Listing Agency:
WAGNER REALTY
(941) 720-7575
Listed By:
David Fletcher · License #671340
(941) 720-7575
Source:
Elliman
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 8:07PM
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 WAGNER REALTY
Investment Insights
Based on property information with market context.
This freestanding flex-space building was completed in 2007 and is occupied by a tenant under a 10-year lease with 9 years remaining. The agreement includes two additional 5-year options. The Class A building features hurricane-resistant E-Wall construction, along with PGT windows and doors throughout. Three 12-foot overhead doors support functional access, and 220 power is available.
The property is positioned just off SR 64 and approximately 0.5 mile from Interstate 75. WalkScore is 7, BikeScore is 25, and TransitScore is 25, reflecting a primarily vehicle-oriented setting with some transit access. The combination of existing occupancy, flex-space functionality, overhead-door access, and proximity to major roadway connections creates a straightforward commercial profile for an owner-user or investor.
The property is positioned just off SR 64 and approximately 0.5 mile from Interstate 75. WalkScore is 7, BikeScore is 25, and TransitScore is 25, reflecting a primarily vehicle-oriented setting with some transit access. The combination of existing occupancy, flex-space functionality, overhead-door access, and proximity to major roadway connections creates a straightforward commercial profile for an owner-user or investor.
Key Highlights
- 10‑year lease in place with 9 years remaining
- Two 5‑year lease options
- Hurricane‑resistant E‑Wall construction and PGT windows and doors
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
$63,567
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
2.89%
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%
$1,271,340
$1.3M
Cap Rate 7%
$908,100
$908.1K
Cap Rate 9%
$706,300
$706.3K
Market Conditions
NOI Build-Up for 6,450 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
$102.9K $15.96/SF
− Vacancy
−$5.1K −$0.80/SF
EGI
$97.8K $15.16/SF
− OpEx
−$34.2K −$5.31/SF
NOI
$63.6K $9.86/SF
Area
Manatee County, FL
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,271,340
Cap Rate 7%
$908,100
Cap Rate 9%
$706,300
Alternative Uses
Best Use
Flex RnD
$908.1K
$794.6K – $1.06M
NOI $63,567 @ 7.0% cap · market cap 2.89%
Second Best
Industrial
$775.2K
$678.3K – $904.4K
NOI $54,262 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,772 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34208, FL
38,522
Population
17,056
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
80%
High-School Grad
16.5 sq mi
ZIP Area
2,335
Density / Sq Mi
$59,899
Median Household Income
$37,489
Median Earnings
$1,409
Median Rent
$303,600
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 - Existing tenancy and durable building features support a stabilized flex-space profile.
Where is this flex space located?
The property is located at 718 60TH STREET E Bradenton, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10‑year lease in place with 9 years remaining; Two 5‑year lease options; Hurricane‑resistant E‑Wall construction and PGT windows and doors
