Functional Industrial Property in
For Sale
Contact for pricing
12841 66th Street N, Largo, FL 33773
20,729 SF industrial property on 3.67 acres for sale.
Property Size20,729 SF
Lot Size3.67 Acres
Price / SF$188.14
Days on Market169
Property Features for 12841 66th Street N
General Information
Standard status
Active
Size
20,729 SF
Class
C
Lot size
3.67 Acres
Property subtype
Industrial
Zoning
Light Manufacturing
Occupancy
65%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$152,308
Building Details
Buildings
4
Stories
1
Tenancy
Multi
Listing Agency:
Saunders Real Estate
(877) 518-5263
Listed By:
Liz Menendez, CCIM · License #SL3121142
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 8 at 2:49PM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
This functional industrial property is situated on 3.67 acres in Pinellas County. The property includes multiple buildings with a total rentable space of 20,729 square feet. Zoned for light manufacturing, the property is suitable for various industrial uses, such as automobile rental, used car lots, and trailer, truck, and van rentals. Currently 65% occupied, the property offers immediate income and additional leasing opportunities for investors, as well as flexibility for owner-users. The property is located in the Largo area, providing ample space for production, storage, and logistics. The location is approximately half a mile from Ulmerton Road and less than one mile from US Highway 19. I-275 is approximately 5 miles away, and St. Pete-Clearwater Airport is 3.5 miles from the site. The location provides convenient access to major transportation routes and strong regional logistics connectivity. The property is also surrounded by a skilled labor force, with nearby training and educational institutions producing talent to support industrial and manufacturing businesses.
Key Highlights
- Prime industrial property in central Pinellas County with 20,729 SF of rentable space on 3.67 acres.
- Zoned for light manufacturing, supporting diverse industrial uses (e.g., auto rental, truck/van rental).
- Immediate income potential at 65% occupancy**, with leasing upside or owner‑user flexibility.
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
$174,568
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
4.48%
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%
$3,491,360
$3.5M
Cap Rate 7%
$2,493,829
$2.5M
Cap Rate 9%
$1,939,644
$1.9M
Market Conditions
NOI Build-Up for 20,729 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
$216.4K $10.44/SF
− Vacancy
−$11.0K −$0.53/SF
EGI
$205.4K $9.91/SF
− OpEx
−$30.8K −$1.49/SF
NOI
$174.6K $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%
$3,491,360
Cap Rate 7%
$2,493,829
Cap Rate 9%
$1,939,644
Alternative Uses
Best Use
Warehouse
$2.49M
$2.18M – $2.91M
NOI $174,568 @ 7.0% cap · market cap 4.48%
Second Best
Industrial
$2.17M
$1.90M – $2.53M
NOI $152,024 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$5.39M
$4.72M – $6.29M
NOI $377,424 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Explore this area
Business Placement
Demographics for 33773, FL
17,494
Population
8,353
Households
2.1
Avg Household Size
48
Median Age
31%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
3,430
Density / Sq Mi
$74,115
Median Household Income
$46,759
Median Earnings
$1,567
Median Rent
$280,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 20,729 SF industrial property on 3.67 acres for sale.
Where is this manufacturing property located?
The property is located at 12841 66th Street N Largo, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime industrial property in central Pinellas County with **20,729 SF of rentable space on 3.67 acres.**; Zoned for light manufacturing, supporting diverse industrial uses (e.g., auto rental, truck/van rental).; Immediate income potential at 65% occupancy**, with leasing upside or owner‑user flexibility.
