Industrial Property Loans in Florida

National industrial: indicative rates at September 28, 2026 index levels: roughly 6.9%–7.6% for permanent financing (middle half of repriced deals), priced over the 5-year Treasury at about +2.0–2.6%. $5M–$30M · 15–30 day typical close.

These ranges take the spreads on recently closed commercial real estate loans of $5M and up (closings reported through early September 2026) and apply them to Treasury and SOFR levels as of September 28, 2026 (U.S. Treasury, NY Fed). State-specific volume in observed closings is limited, so this is a national reference, not a state-only or property-specific figure. They are indicative market data, not an indication or offer of the rate or terms you will receive; your terms depend on the property, sponsor, market, and lender underwriting and will vary. Northern Ridge Capital arranges commercial real estate financing only (no residential) and is a licensed mortgage broker (CA DRE #02093377), not a lender. See full disclosures.

Florida industrial debt gets sized on three things that don't come up the same way anywhere else: which port or interstate the building feeds, how it insures against wind, and where the 5-year Treasury sits the day the lender prices it. Northern Ridge Capital places $5M–$30M industrial loans across Florida (warehouse, distribution, flex, last-mile and industrial outdoor storage) by putting the lenders who want that building in competition. We're a broker, not a lender.

The index moved after May

Most permanent industrial loans are fixed over the 5-year Treasury. The index sat at 4.13% on May 29, 2026. By September 28, 2026 it was 5.06%, according to the U.S. Treasury daily par yield curve. A lender holding the same spread today lands close to a point higher than it would have in May, and the band at the top of this page already uses the September 28 index. For floating deals, 30-day SOFR was 3.90% on September 28, 2026 (Federal Reserve Bank of New York). If you're refinancing in the next few months, run your numbers at today's index, not May's.

Worked example: what a point on the 5-year does to proceeds

Illustrative only. Every input below is hypothetical except the Treasury print, and none of it is a quote. Take a leased Florida distribution building with $1,500,000 of net operating income, a lender that wants 1.25x debt service coverage, and a 30-year amortization.

• Maximum annual debt service: $1,500,000 ÷ 1.25 = $1,200,000
• Rate: 5.06% Treasury (Sept. 28, 2026) + a hypothetical 2.25% spread = 7.31%, which works out to an annual debt constant of about 8.24%
• Loan the income supports: $1,200,000 ÷ 0.0824 ≈ $14.57M
• Same file with the Treasury one point lower (6.31% all-in): about $16.14M

That's roughly $1.57M of proceeds riding on one point of index on a building that didn't change. It's also why lender selection matters more when rates are up. The spread is the part you can negotiate, and on this file a quarter point of spread (7.31% down to 7.06%) is worth about $368,000 of proceeds.

Florida's port and population numbers, as published

Lenders price location, and in Florida location mostly means a port, I-4 or I-95. The public figures:

• JAXPORT moved 1,388,841 TEUs in fiscal 2025, up 4% from 1,340,412 in fiscal 2024 (JAXPORT FY2025 Annual Report).
• Up to 7 million square feet of largely speculative industrial space hit the Jacksonville-area market in 2025, and just under 1 million square feet is expected to complete in 2026 (Jax Daily Record, Feb. 13, 2026). New Jacksonville supply is slowing, so a lease-up file there reads differently than it did a year ago.
• PortMiami handled 1,115,058 TEUs in fiscal 2025 (Oct. 1, 2024 to Sept. 30, 2025), up from 1,089,443 (Miami-Dade County, Dec. 2, 2025).
• Miami industrial in-place rents rose 7.6% over 12 months, and Tampa's year-to-date industrial sales reached $1 billion at an average of $142 per square foot, against a national industrial vacancy rate of 9.3% (CommercialEdge National Industrial Report, September 2026).
• Two of the nation's fastest-growing metros from July 2024 to July 2025 sit on Florida's distribution corridors: Ocala (+3.4%, on I-75) and Lakeland-Winter Haven (+2.7%, on I-4 between Tampa and Orlando) (U.S. Census Bureau, Vintage 2025, Mar. 26, 2026).

A lender reads those as depth of tenant demand behind your rent roll. A Miami last-mile building and a Polk County bulk box will draw different lenders, and we take each one to the group that's writing that submarket now.

Two 2025-2026 changes that show up in an industrial file

Warehouse rent is no longer taxed

Florida repealed its sales tax on commercial rent for occupancy periods beginning October 1, 2025. The Florida Department of Revenue (TIP 25A01-04) lists warehouses by name, and the repeal covers the 2% state tax and any county surtax. On a tenant paying $1,200,000 of base rent a year, that's $24,000 a year of state tax the tenant no longer pays (illustrative figure, surtax not included). It doesn't change your NOI, but it lowers the tenant's cost of staying, which is part of what a lender weighs at rollover.

Commercial insurance pricing has leveled at the state insurer

Citizens Property Insurance cut its average statewide rate for commercial non-residential multiperil policies by 1.8%, effective for new and renewal policies on or after July 1, 2026 (Citizens, Apr. 30, 2026). Citizens writes only part of the market, so your own renewal is what counts. What a lender asks for is the same: a bound quote, the wind-mitigation report, roof age and type, and the flood zone. A tilt-wall building with a newer roof and a manageable named-storm deductible gets a cleaner read than older flex in a surge zone, and some lenders price that gap harder than others.

Typical Florida industrial terms

Related financing: Florida retail loans, Florida commercial bridge loans, and industrial property loans.

Structure shown is typical, not a quote or commitment; actual terms are set by third-party lenders subject to underwriting. See disclosures.

Where a Florida industrial loan fits

Buying near a port or on I-4

Get the insurance quote bound and the debt lined up before you're hard. On a contested Miami or Tampa purchase, the buyer who can close on schedule wins, and a late insurance binder can push a closing date.

Refinancing a maturing loan

If your loan was fixed when the 5-year was near 4%, the renewal will price off 5.06% or whatever it is that week. Your current lender's opening number is one quote. We get you several.

Holding a stabilized, credit-tenant box

Life-company and CMBS lenders will lock long fixed rates on a leased building with a credit tenant, and the wind-mitigation file is part of what gets you their best spread.

Lease-up, repositioning or IOS

Re-tenanting a Jacksonville bulk building or financing an outdoor storage yard? A bridge or specialty lender underwrites the plan now, and we line up the permanent takeout for when it's leased. See Florida commercial bridge loans.

How we place Florida industrial debt

We underwrite your building the way the lender will before anyone sees it: tenancy and lease term, clear height, truck court and dock doors, the port or interstate it serves, and how it insures. Then we take it to the lenders active in that Florida submarket from a network of 700+ and run it to close. We're paid a 1% origination fee at closing, and nothing if the loan doesn't close.

Florida industrial loans: FAQ

What rate can I get on a Florida industrial loan?

Taking the spreads on recent closings and applying them to index levels as of September 28, 2026, loans here would run roughly 6.9%–7.6% for permanent financing (middle half of repriced deals), priced over the 5-year Treasury at about +2.0–2.6%. That is indicative market data, not an offer; your rate depends on the asset, leverage, and sponsor. Contact us for a live quote.

Rates have moved since May. How do I read the closing band?

As a spread, not a coupon. Most May deals were fixed over the 5-year Treasury, and it's up about 0.9 points since the end of May. Add the spread your deal earns to today's index and you're closer to a current number. We get live quotes before you commit to anything.

Does Florida's commercial rent tax repeal affect my loan?

Indirectly. Since October 1, 2025, warehouse tenants no longer pay Florida's 2% state sales tax or county surtax on rent (Florida Department of Revenue, TIP 25A01-04). Your NOI doesn't change, but occupancy gets cheaper for the tenant, which helps at renewal.

How much does insurance affect an industrial loan in Florida?

It depends on the building more than the county. Newer tilt-wall with a recent roof and a clean wind-mitigation report usually underwrites well. Older flex in a surge zone draws scrutiny on the deductible and on whether insured value covers the loan. Lenders size off the bound policy, so get it early.

How large an industrial loan can you place?

Northern Ridge Capital arranges industrial debt from $5 million to $30 million, commonly up to about 60–70% LTV, depending on tenancy and location.

Do you finance flex, last-mile and industrial outdoor storage (IOS)?

Yes. In Florida each draws a different lender group, and each group reads the insurance file its own way. We match the property type to the capital that's lending on it now.

Is Northern Ridge Capital a lender?

No. We're a commercial mortgage broker (CA DRE #02093377). We place your deal with the right lender from a network of 700+ and make them compete. Commercial real estate only.

About

Justin Ashcraft is the president of Northern Ridge Capital, a commercial real estate debt brokerage placing $5M–$30M in multifamily, retail, and industrial financing nationwide within its licensed footprint, with $600M+ in deal experience across underwriting and brokerage. Licensed in California, DRE #02093377.

Northern Ridge Capital is a licensed commercial mortgage broker (CA DRE #02093377), not a lender, and arranges financing on commercial real estate only (no residential). Rates and figures reflect actual closed transactions as of the date noted and are not an indication or offer of terms. For informational purposes only; not financial, legal, or tax advice. Full disclosures.