The Princeton 2192-2198 Princeton St 20,514 SF 100% Leased Industrial Building Sarasota, FL 34237 $3,750,000 ($182.80/SF) 6.36% Cap Rate

The Multifamily Firm is pleased to present the Princeton, a fully leased, multi-tenant industrial / flex investment located on a 1.21-acre urban infill site less than a mile from Downtown Sarasota. The property generates in excess of $300K in gross annual income with 3% contractual rent escalations and benefits from an expense-efficient operating structure, with tenants paying all utilities and the majority of HVAC maintenance costs.
Zoned Industrial General District (IGD), the property supports a broad range of service-oriented industrial, flex, and contractor uses, contributing to strong tenant retention and durable cash flow across market cycles. The current tenant mix consists of service-oriented industrial users, including pet cremation, light manufacturing and distribution, commercial linen services, and a low-impact church tenant that operates exclusively during evening hours.
The property consists of two buildings totaling 20,514 square feet, including an 18,862 SF main building and a 1,652 SF detached rear building with roll-up doors, offering functional flexibility for a variety of users. The site features a gated, fenced rear yard and dual ingress/egress from Princeton Street and Cornell Street, enhancing operational efficiency and site usability.
Built in 1973 with solid masonry construction, located in non-flood zone, and supported by a recent roof inspection indicating approximately 12 years of remaining useful life, the property benefits from durable fundamentals and reduced risk exposure. Combined with its proximity to US-301 and Downtown Sarasota, the asset offers investors stable in-place income with long-term flexibility, supported by industrial zoning in a supply-constrained urban infill location, subject to future approvals.
View Offering Memorandum document for Financial Details!