Downtown Bradenton Pristine Office
For Sale
Contact for pricing
1003 8th Ave W, Bradenton, FL 34205
Remodeled office building in rapidly expanding Downtown Bradenton urban district.
Property Size17,023 SF
Price / SF$199.73
Days on Market832
Property Features for 1003 8th Ave W
General Information
Standard status
Active
Size
17,023 SF
Class
B
Property subtype
Office
Zoning
T5
Building Details
Year Built
1969
Listing Agency:
NDC Commercial Real Estate
(941) 285-6727
Listed By:
Benjamin Bakker · License #FL 3279071
Source:
Crexi
Added: May 14, 2024
Changed: Aug 23
Last Checked: May 12 at 10:52PM
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 NDC Commercial Real Estate
Investment Insights
Based on property information with market context.
This pristine office building is located in the rapidly expanding Downtown Bradenton urban district. The 17,023 sq. ft. building underwent a full remodel and features a wide-open floor plan. The main entrance provides prestige. Top-of-the-line data and internet wiring are installed throughout the building. Green building features are present. The property benefits from natural light, kitchen space, and men's and women's restrooms in each suite. Additional conference or contiguous space is available. The entire building could be leased or occupied by a single user or converted to mixed-use retail on the ground floor and office space on the second floor.
Key Highlights
- Full remodel completed.
- Located in the rapidly expanding Downtown Bradenton urban district.
- Wide‑open floor plan offers flexible use.
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
$277,979
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
8.18%
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%
$5,559,580
$5.6M
Cap Rate 7%
$3,971,129
$4.0M
Cap Rate 9%
$3,088,656
$3.1M
Market Conditions
NOI Build-Up for 17,023 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
$392.2K $23.04/SF
− Vacancy
−$21.6K −$1.27/SF
EGI
$370.6K $21.77/SF
− OpEx
−$92.7K −$5.44/SF
NOI
$278.0K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$5,559,580
Cap Rate 7%
$3,971,129
Cap Rate 9%
$3,088,656
Alternative Uses
Best Use
Office B
$3.97M
$3.47M – $4.63M
NOI $277,979 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,415 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Remodeled office building in rapidly expanding Downtown Bradenton urban district.
Where is this office building located?
The property is located at 1003 8th Ave W Bradenton, FL.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Full remodel completed.; Located in the rapidly expanding Downtown Bradenton urban district.; Wide‑open floor plan offers flexible use.
