Dunedin Light Industrial
620 UNION St Dunedin, FL 34698
For Sale
$950,000
Leased industrial asset with contractual rent increases in Dunedin, Florida.
Property Size3,600 SF
Price / SF$263.89
Days on Market95
Property Features for 620 UNION St
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1971
Listing Agency:
Lauren Michaels Real Estate Partners
(323) 804-5043
Listed By:
Tiffany Novitsky · License #3405611
(323) 804-5043
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 10:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lauren Michaels Real Estate Partners
Investment Insights
Based on property information with market context.
This 3,600 square foot light industrial asset in Dunedin offers stable income with built-in growth. 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. 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 represents a compelling opportunity to acquire a well-located light industrial asset in a market where similar properties rarely become available.
Key Highlights
- Leased light industrial asset in a supply‑constrained Dunedin market.
- Contractual 3% annual rent increases provide stable income.
- Currently leased to an established tenant at $4,150/month, offering immediate income.
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| 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 Uses
Best Use
Office B
$798.5K
$698.7K – $931.6K
NOI $55,895 @ 7.0% cap · market cap 5.88%
Second Best
Warehouse
$433.1K
$379.0K – $505.3K
NOI $30,317 @ 7.0% cap · market cap 3.19%
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cool Today
Hardware & Home Improvement
Clearwater Plumbing
General Contractor
Similar Off Market Nearby
- Clearwater Storage — 1861 N Highland Ave, Clearwater, FL 33755
FAQs
What type of property is this?
Warehouse - Leased industrial asset with contractual rent increases in Dunedin, Florida.
Where is this warehouse located?
The property is located at 620 UNION St 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 light industrial asset in a supply‑constrained Dunedin market.; Contractual 3% annual rent increases provide stable income.; Currently leased to an established tenant at $4,150/month, offering immediate income.
