For Sale
$3,785,000

6270 118 AvePinellas Park, FL 33773

43-Unit Warehouse Complex, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 23,980-square-foot industrial portfolio situated on a 1.73-acre lot in Largo, Florida (Pinellas Park submarket). The property, located at 6270 118th Ave N, zip code 33773, comprises four Class B buildings constructed in 1980 and extensively renovated in 2022. The complex features 43 multi-sized warehouse units, ranging from 325 to 1600 square feet, each equipped with 10-12 foot roll-up doors. Ceiling heights vary from 12 to 18 feet, providing ample storage and operational space. Small office spaces are also available within the complex. Shared bathroom facilities are on-site, and electricity is available to tenants. The property boasts a high occupancy rate with staggered annual leases, ensuring consistent cash flow. Its prime location offers excellent visibility from Bryan Dairy Road and convenient access from 118th Ave N. The asking price is $3,785,000, representing a compelling $157.84 per square foot and a 6.75% capitalization rate. The property is zoned M-1 and offers a price per unit of $88,023.26. This well-maintained, high-demand property presents a strong return on investment for discerning buyers. The property is in pristine condition.

Highlights

  • 23,980-square-foot industrial portfolio on a 1.73-acre lot in Largo, FL (Pinellas Park submarket).
  • Four Class B buildings, renovated in 2022, with 43 warehouse units (325-1600 sq ft).
  • 12-18 ft ceilings, 10-12 ft roll-up doors, small office spaces, and shared bathrooms.
  • High occupancy with staggered leases, excellent visibility, and convenient access.
  • Asking price: $3,785,000 ($157.84/sq ft, 6.75% cap rate, $88,023.26/unit). M-1 zoning.

Property Details for 6270 118 Ave

Property type
Warehouses, Industrial properties
Square Feet
23,980 SF
Class
B
Year Built/Renovated
1980/2022
Buildings
4
Stories
1
Lot Size (sq. ft)
75,359 SF
Units
43

Location Insight

City
Pinellas Park
County
Pinellas
State
Florida
Latitude
27.8773427
Longitude
-82.7224824
6270 118 Ave, Pinellas Park, Florida

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6270 118 Ave
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