Concrete Manufacturing Facility with Dock
For Sale
$7,960,000
3221 Cherry Palm Dr, Tampa, FL 33619
Concrete manufacturing facility with warehouse, climate-controlled production, office areas, dock access, and a 2019 roof replacement.
Property Size38,624 SF
Price / SF$206.09
Days on Market22
Property Features for 3221 Cherry Palm Dr
General Information
Standard status
Active
Size
38,624 SF
Property subtype
Commercial
Lease Term
±5 YRS
Net Operating Income
$521,424
Warehouse & Industrial
Warehouse Space
18,678 SF
Office Build-Out
12,492 SF
Dock-High Doors
4
Building Details
Building Size
38,624 SF
Construction
concrete
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services
(424) 217-7709
Listed By:
Brett Davis · License #02116782 (CA)
(424) 217-7709
Source:
Matthews
Added: Aug 1
Changed: Aug 21
Last Checked: Aug 21 at 3:51AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This Tampa manufacturing property contains approximately 38,624 SF of concrete construction, including about 18,678 SF of warehouse area, 7,820 SF of climate-controlled manufacturing space, and 12,492 SF of offices. The facility includes four dock-high doors, two ramps, and a 60-mil TPO roof installed in 2019.
Amphenol Custom Cable has operated at the property since 2008 and recently signed a five-year lease extension. The industrial NNN lease provides 4.0% annual rent increases and a 2.5% management fee paid by the tenant. Lease obligations are guaranteed by Amphenol Corporation, an S&P A- rated public company. The property is located at 3221 Cherry Palm Dr in Tampa, within an established industrial area.
Amphenol Custom Cable has operated at the property since 2008 and recently signed a five-year lease extension. The industrial NNN lease provides 4.0% annual rent increases and a 2.5% management fee paid by the tenant. Lease obligations are guaranteed by Amphenol Corporation, an S&P A- rated public company. The property is located at 3221 Cherry Palm Dr in Tampa, within an established industrial area.
Key Highlights
- Approximately 38,624 SF concrete manufacturing facility
- 18,678 SF warehouse, 7,820 SF climate‑controlled manufacturing, and 12,492 SF office space
- Four dock‑high doors and two ramps
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
$569,614
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
7.16%
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%
$11,392,280
$11.4M
Cap Rate 7%
$8,137,343
$8.1M
Cap Rate 9%
$6,329,044
$6.3M
Market Conditions
NOI Build-Up for 38,624 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
$709.1K $18.36/SF
− Vacancy
−$39.0K −$1.01/SF
EGI
$670.1K $17.35/SF
− OpEx
−$100.5K −$2.60/SF
NOI
$569.6K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /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%
$11,392,280
Cap Rate 7%
$8,137,343
Cap Rate 9%
$6,329,044
Alternative Uses
Best Use
Warehouse
$8.14M
$7.12M – $9.49M
NOI $569,614 @ 7.0% cap · market cap 7.16%
Second Best
Industrial
$6.70M
$5.86M – $7.82M
NOI $469,094 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$9.00M
$7.87M – $10.50M
NOI $629,880 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Dock-high doors
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Explore this area
Business Placement
Demographics for 33619, FL
39,881
Population
15,360
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
27.5 sq mi
ZIP Area
1,450
Density / Sq Mi
$63,193
Median Household Income
$38,448
Median Earnings
$1,618
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Industrial in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Concrete manufacturing facility with warehouse, climate-controlled production, office areas, dock access, and a 2019 roof replacement.
Where is this manufacturing property located?
The property is located at 3221 Cherry Palm Dr Tampa, FL.
What is the asking price?
The asking price for this property is $7,960,000.
What are key features of this property?
This property features: Approximately 38,624 SF concrete manufacturing facility; 18,678 SF warehouse, 7,820 SF climate‑controlled manufacturing, and 12,492 SF office space; Four dock‑high doors and two ramps
