Sarasota Industrial Asset For
For Sale
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1909 Whitfield Park Loop, Sarasota, FL 34243
18,000 sqft industrial asset with light manufacturing zoning.
Property Size18,000 SF
Price / SF$163.89
Days on Market853
Property Features for 1909 Whitfield Park Loop
General Information
Standard status
Active
Size
18,000 SF
Class
B
Total Parking Spaces
30
Property subtype
Industrial
Zoning
LM
Occupancy
66%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$192,000
Building Details
Year Built
1973
Year Renovated
2024
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
KW Commercial Sarasota/Siesta Key
Listed By:
Gavin Oberlin · License #SL3461965
Source:
Crexi
Added: Apr 30, 2024
Changed: Aug 17
Last Checked: Aug 29 at 8:34AM
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 KW Commercial Sarasota/Siesta Key
Investment Insights
Based on property information with market context.
This 18,000 sqft industrial asset, zoned for light manufacturing (LM), is located within Whitfield Industrial Park, one of the largest industrial parks in the area. The property is situated north of SRQ International Airport, offering convenient access to 301 and I-75. The property includes approximately 2,500 sqft of air-conditioned office space, creating a comfortable environment for employees and clients. The building features a 14-foot ceiling height, suitable for accommodating large equipment or machinery. The property benefits from LM zoning, which allows for a wide range of commercial and industrial activities. The building is equipped with three-phase power, suitable for equipment and other industrial applications. A 10-year roof coating warranty is included, completed October 20, 2023. The current internet provider is Spectrum. Seller financing is available at a competitive rate. The property offers the potential of over an 8 CAP.
Key Highlights
- Light manufacturing (LM) zoning allows for a wide range of commercial and industrial activities.
- 18,000 sq/ft industrial space provides ample room for various operations.
- Strategic location in Whitfield Industrial Park, near SRQ International Airport, with easy access to 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
$151,430
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
5.13%
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%
$3,028,600
$3.0M
Cap Rate 7%
$2,163,286
$2.2M
Cap Rate 9%
$1,682,556
$1.7M
Market Conditions
NOI Build-Up for 18,000 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
$224.6K $12.48/SF
− Vacancy
−$8.3K −$0.46/SF
EGI
$216.3K $12.02/SF
− OpEx
−$64.9K −$3.61/SF
NOI
$151.4K $8.41/SF
Area
Manatee County, FL
Vacancy
3.70%
Lease Rate
$12.48 /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%
$3,028,600
Cap Rate 7%
$2,163,286
Cap Rate 9%
$1,682,556
Alternative Uses
Best Use
Industrial
$2.16M
$1.89M – $2.52M
NOI $151,430 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.29M
$4.63M – $6.18M
NOI $370,526 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 18,000 sqft industrial asset with light manufacturing zoning.
Where is this manufacturing property located?
The property is located at 1909 Whitfield Park Loop Sarasota, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Light manufacturing (LM) zoning allows for a wide range of commercial and industrial activities.; 18,000 sq/ft industrial space provides ample room for various operations.; Strategic location in Whitfield Industrial Park, near SRQ International Airport, with easy access to 301 and I‑75.
