Versatile Commercial Building on
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31336 Co Rd 437, Sorrento, FL 32776
5,000 sqft commercial building on 4.68 acres in Sorrento.
Property Size5,919 SF
Lot Size4.68 Acres
Price / SF$287.21
Days on Market736
Property Features for 31336 Co Rd 437
General Information
Standard status
Active
Size
5,919 SF
Lot size
4.68 Acres
Property subtype
Industrial, Land, Mixed Use, Office, Special Purpose
Zoning
CP
Building Details
Year Built
1989
Listing Agency:
Stirling International Real Estate
Listed By:
Roger Soderstrom Jr · License #FL
Source:
Crexi
Added: Aug 22, 2024
Changed: Aug 25
Last Checked: Aug 24 at 8:36AM
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 Stirling International Real Estate
Investment Insights
Based on property information with market context.
This commercial building offers approximately 5,000 square feet of space on a 4.68-acre lot in Sorrento. The property is zoned CP, offering versatile usage options. Situated in a rapidly expanding area, the location provides convenient access to the Beltway, Central Florida Expressway, and Wekiva Parkway. The building is equipped with heat and air conditioning. The layout is suitable for a professional office or commercial-retail space, subject to Lake County approval and compliance with the Mount Plymouth-Sorrento Community Redevelopment Agency guidelines. A 3-phase electric service line runs to the front electric breaker box; the interior is serviced by 200-225 amps as of August 2023, with provisions for upgrades to meet higher electrical demands. This property is suited for entrepreneurs and investors seeking a strategic location.
Key Highlights
- Prime commercial building with versatile CP zoning on approximately 4.68 acres in a rapidly expanding area of Sorrento.
- Excellent accessibility and visibility due to proximity to the Beltway, Central Florida Expressway, and Wekiva Parkway.
- Building is under heat and air conditioning, suitable for immediate occupancy or development.
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
$78,131
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
4.60%
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%
$1,562,620
$1.6M
Cap Rate 7%
$1,116,157
$1.1M
Cap Rate 9%
$868,122
$868.1K
Market Conditions
NOI Build-Up for 5,919 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
$142.1K $24.00/SF
− Vacancy
−$17.0K −$2.88/SF
EGI
$125.0K $21.12/SF
− OpEx
−$46.9K −$7.92/SF
NOI
$78.1K $13.20/SF
Area
Lake County, FL
Vacancy
12.00%
Lease Rate
$24.00 /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%
$1,562,620
Cap Rate 7%
$1,116,157
Cap Rate 9%
$868,122
Alternative Uses
Best Use
Mixed Use
$1.12M
$976.6K – $1.30M
NOI $78,131 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.97M
NOI $117,906 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 32776, FL
12,456
Population
5,022
Households
2.5
Avg Household Size
42
Median Age
21%
College-Educated
92%
High-School Grad
49.6 sq mi
ZIP Area
251
Density / Sq Mi
$97,217
Median Household Income
$49,486
Median Earnings
$928
Median Rent
$374,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 5,000 sqft commercial building on 4.68 acres in Sorrento.
Where is this mixed-use property located?
The property is located at 31336 Co Rd 437 Sorrento, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime commercial building with versatile CP zoning on approximately 4.68 acres in a rapidly expanding area of Sorrento.; Excellent accessibility and visibility due to proximity to the Beltway, Central Florida Expressway, and Wekiva Parkway.; Building is under heat and air conditioning, suitable for immediate occupancy or development.
