Dunedin Light Industrial
620 UNION STREET, Dunedin, FL 34698
Mixed Use - DUNEDIN, FL
Type:Mixed Use
Property size:
3,600 SFLot size:
0.19 AcresPrice / SF:
$263/SF- Added:
- Feb 17, 2026
- Days on Market:
- 90
- Last Refresh:
- May 18 at 12:06 am
Property Features for 620 UNION STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Mixed Use
- Standard status
- Active
- APN
- 34-28-15-21060-000-1080
- Size
- 3,600 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 10825.06
Building Details
- Year built
- 1971
- Building materials
- Frame, Metal Siding
- Roof type
- Membrane
- Architectural style
- Other
Listing agent Tiffany Novitsky License #3405611 (323) 804-5043
Listing office LAUREN MICHAELS R.E. PARTNERS 906 Drew St, Clearwater Beach, FL (727) 298-8888
Listing date Feb 17, 2026
MLS# TB8477471
Listing URL
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Leased investment property with contractual 3% annual rent increases, ensuring stable and growing income.
- Located in Dunedin, a supply‑constrained industrial submarket within Pinellas County, offering long‑term value stability.
- Currently leased to an established tenant at $4,150/month, providing immediate income.
- Potential for division into two units, allowing for multi‑tenant leasing or partial owner‑user occupancy in the future.
- Offers an estimated 4.45% cap rate with contractual rent growth increasing forward yield.
- Functional office/warehouse layout suitable for a variety of industrial uses.
Overview
Located in Dunedin, Florida, this 3,600 square foot light industrial asset presents an investment opportunity in a supply-constrained industrial submarket of Pinellas County. The property features a functional office/warehouse layout and is currently leased to an established tenant at $4,150 per month with 3% annual increases, offering predictable income growth over the remaining lease term. The configuration allows for potential division into two units, creating future flexibility for multi-tenant leasing or partial owner-user occupancy. The property offers an estimated 4.45% cap rate with contractual rent growth. Industrial assets in Dunedin and the greater Pinellas County market continue to experience strong demand and limited new supply. This property is suited for investors seeking stable income with contractual rent increases, buyers looking for long-term industrial exposure in a high-barrier coastal market, and owner-users seeking future flexibility while collecting income. The property is located at 620 UNION STREET, DUNEDIN, FL 34698 and sits on a lot of 0.19 acres.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$621.1K
NOI $55,895 @ 9.00% cap · cautious / downside scenario
Moderate
$798.5K
NOI $55,895 @ 7.00% cap · market / base-case scenario
Aggressive
$1.12M
NOI $55,895 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.7k | $26.04 |
| − Vacancy | −$19.2k | −$5.34 |
| EGI | $74.5k | $20.70 |
| − OpEx | −$18.6k | −$5.18 |
| NOI | $55.9k | $15.53 |
3,600 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$798.5K
$698.7K – $931.6K
NOI $55,895 @ 7.0% cap · market cap 5.88%
Second Best
Flex RnD
$465.3K
$407.1K – $542.8K
NOI $32,570 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$936.4K
$819.3K – $1.09M
NOI $65,547 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Cool Today
Hardware & Home Improvement
Clearwater Plumbing
General Contractor
Similar Places Nearby
- Chattatater — 1841 N Highland Ave, Clearwater, FL 33755
- East Coast Catering — 422 Patricia Ave, Dunedin, FL 34698
- Suncoast Lemonade — 250 New York Ave, Dunedin, FL 34698
- Chocolate Fountain Productions Catering — 1141 Sunset Point Rd, Clearwater, FL 33755
Location Insight
- Map
- Local Demand
- City
- Dunedin
- County
- Pinellas
- State
- Florida
- Longitude
- -82.78301
- Latitude
- 27.997644
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Leased light industrial asset with income and growth potential.
Where is this flex space located?
The property is located at 620 UNION STREET Dunedin, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Leased investment property with contractual 3% annual rent increases, ensuring stable and growing income.; Located in Dunedin, a supply‑constrained industrial submarket within Pinellas County, offering long‑term value stability.; Currently leased to an established tenant at $4,150/month, providing immediate income.
