Industrial Property Near
For Sale
Contact for pricing
Pending
6425 15th St E, Sarasota, FL 34243
Prime industrial property with development potential near Sarasota-Bradenton Airport.
Property Size27,000 SF
Lot Size8.27 Acres
Days on Market695
Property Features for 6425 15th St E
General Information
Standard status
Pending
Size
27,000 SF
Lot size
8.27 Acres
Property subtype
Industrial, Land
Zoning
HC - Heavy Commercial
Investment Type
Owner/User
Building Details
Year Built
1997
Year Renovated
2011
Buildings
1
Stories
2
Units
1
Listing Agency:
Horizon Realty International Inc
Listed By:
Atanas Georgiev · License #FL 3191165
Source:
Crexi
Added: Sep 30, 2024
Changed: Aug 10
Last Checked: Aug 23 at 11:22PM
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 Horizon Realty International Inc
Investment Insights
Based on property information with market context.
This property is located in the industrial zone near the Sarasota-Bradenton International Airport, an area with a low vacancy rate of only 2%. The location offers convenient access to US 301 and I-75. The property is situated in South Bradenton, which was ranked No. 6 in WalletHub's 2024 list of "Best Cities to Start a Business in the US." The total property area spans 8.27 acres and consists of two individual PIDs. The total building size is 21,524 square feet, but increases to 27,000 square feet when including the second-floor warehouse. The property includes 7,000 square feet of office/showroom space, 7,000 square feet of warehouse/repair shop space, and a 7,524-square-foot canopy. The second floor adds an additional 5,476 square feet. There are approximately 622 parking spaces available. Fire sprinklers are installed in the building and canopy. The property has Heavy Commercial zoning and features 950 feet of road frontage on 15th St E. Previously used as an auto dealership, the warehouse has clear span ceiling heights of 43 feet at the center and 20+ feet at the eve line. The door size is 14x14. There is a value-add development opportunity for four additional buildings, each between 8,000 and 12,000 square feet, totaling approximately 40,000 square feet.
Key Highlights
- Owner financing available for qualified buyers.
- Located in South Bradenton, ranked No. 6 in the US for starting a business.
- Prime location in an Industrial zone with only a 2% vacancy rate, near Sarasota‑Bradenton International Airport, US 301, and I‑75.
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
$332,035
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
5.31%
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%
$6,640,700
$6.6M
Cap Rate 7%
$4,743,357
$4.7M
Cap Rate 9%
$3,689,278
$3.7M
Market Conditions
NOI Build-Up for 27,000 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
$486.0K $18.00/SF
− Vacancy
−$11.7K −$0.43/SF
EGI
$474.3K $17.57/SF
− OpEx
−$142.3K −$5.27/SF
NOI
$332.0K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$6,640,700
Cap Rate 7%
$4,743,357
Cap Rate 9%
$3,689,278
Alternative Uses
Best Use
Retail
$4.74M
$4.15M – $5.53M
NOI $332,035 @ 7.0% cap · market cap 5.31%
Second Best
Warehouse
$3.94M
$3.45M – $4.60M
NOI $275,819 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$7.94M
$6.95M – $9.26M
NOI $555,790 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Prime industrial property with development potential near Sarasota-Bradenton Airport.
Where is this warehouse located?
The property is located at 6425 15th St E Sarasota, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Owner financing available for qualified buyers.; Located in South Bradenton, ranked No. 6 in the US for starting a business.; Prime location in an Industrial zone with only a 2% vacancy rate, near Sarasota‑Bradenton International Airport, US 301, and I‑75.
