Freestanding Warehouse with Loading
For Sale
Under Contract
$1,100,000
1060 HARBOR LAKE Drive, Safety Harbor, FL 34695
Commercial Sale, SAFETY HARBOR, FL
Property Size4,720 SF
Lot Size0.44 Acres
Price / SF$233.05
Days on Market173
Property Features for 1060 HARBOR LAKE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
HARBOR LAKE INDUST PARK
Directions
Heading north on Harbor Lake Drive, the property is located on the right side of the road.
Standard status
Active Under Contract
APN
33-28-16-36225-000-0370
Size
4,720 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HARBOR LAKE INDUSTRIAL PARK LOT 37
Tax Annual Amount
6950
Legal Description
HARBOR LAKE INDUSTRIAL PARK LOT 37
Building Details
Year built
1985
Building materials
Metal Siding
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: Mar 6
Changed: Aug 24
Last Checked: Aug 26 at 3:06AM
MLS# TB8483681
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.
Investment Insights
Based on property information with market context.
This freestanding warehouse contains 4,720 square feet within a pre-engineered metal building constructed in 1985. The interior is predominantly open warehouse space with one restroom and no finished office area, supporting production, storage, fabrication, and contractor operations. A 40-foot by 118-foot footprint, 16-foot clear height, and slab-on-grade construction provide a straightforward, functional layout.
Access is supported by two 14-foot grade-level roll-up doors and a broad concrete apron for parking, loading, and vehicle maneuvering. Exterior space provides room for equipment staging or material storage. Electrical service includes a 150-amp panel and a 250-amp 3-phase panel. Mechanical systems include three 10 HP, 36-inch Hartzell ceiling exhaust fans with interior air-plenum distribution, plus five 3 HP, 36-inch Hartzell intake fans along the south wall. The property is located in Harbor Lake Industrial Park in Safety Harbor, Pinellas County.
Access is supported by two 14-foot grade-level roll-up doors and a broad concrete apron for parking, loading, and vehicle maneuvering. Exterior space provides room for equipment staging or material storage. Electrical service includes a 150-amp panel and a 250-amp 3-phase panel. Mechanical systems include three 10 HP, 36-inch Hartzell ceiling exhaust fans with interior air-plenum distribution, plus five 3 HP, 36-inch Hartzell intake fans along the south wall. The property is located in Harbor Lake Industrial Park in Safety Harbor, Pinellas County.
Key Highlights
- 4,720 square feet in a freestanding warehouse built in 1985
- 40' x 118' pre‑engineered metal building
- Two 14‑foot grade‑level roll‑up doors and 16‑foot clear heights
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
$39,749
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
3.61%
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%
$794,980
$795.0K
Cap Rate 7%
$567,843
$567.8K
Cap Rate 9%
$441,656
$441.7K
Market Conditions
NOI Build-Up for 4,720 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
$49.3K $10.44/SF
− Vacancy
−$2.5K −$0.53/SF
EGI
$46.8K $9.91/SF
− OpEx
−$7.0K −$1.49/SF
NOI
$39.7K $8.42/SF
Area
Pinellas County, FL
Vacancy
5.10%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
15.00%
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%
$794,980
Cap Rate 7%
$567,843
Cap Rate 9%
$441,656
Alternative Uses
Best Use
Warehouse
$567.8K
$496.9K – $662.5K
NOI $39,749 @ 7.0% cap · market cap 3.61%
Second Best
Industrial
$494.5K
$432.7K – $576.9K
NOI $34,616 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,940 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34695, FL
17,927
Population
8,025
Households
2.2
Avg Household Size
52
Median Age
46%
College-Educated
96%
High-School Grad
5.6 sq mi
ZIP Area
3,201
Density / Sq Mi
$96,138
Median Household Income
$53,436
Median Earnings
$1,680
Median Rent
$418,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Craftsman's Corner — Harbor Lake Dr, Safety Harbor, FL 34695
Frequently Asked Questions
What type of property is this?
Warehouse - Open warehouse configuration with substantial ventilation, electrical capacity, and exterior space for loading and equipment staging.
Where is this warehouse located?
The property is located at 1060 HARBOR LAKE Drive Safety Harbor, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,720 square feet in a freestanding warehouse built in 1985; 40' x 118' pre‑engineered metal building; Two 14‑foot grade‑level roll‑up doors and 16‑foot clear heights
