Pinellas Park Industrial/Automotive
For Sale
$2,300,000
3580 66TH AVENUE N, Pinellas Park, FL 33781
8,516 SF industrial property in Pinellas Park's industrial corridor.
Property Size8,516 SF
Lot Size0.47 Acres
Price / SF$270.08
Days on Market98
Property Features for 3580 66TH AVENUE N
General Information
Standard status
Active
Size
8,516 SF
Lot size
0.47 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,798
Building Details
Building Size
8,516 SF
Year Built
1967
Listing Agency:
KELLER WILLIAMS REALTY- PALM H
(978) 828-8944
Listed By:
Janet Faulkner · License #9516868
(978) 828-8944
Source:
Mbifloridarealty
Added: May 19
Changed: Aug 23
Last Checked: Aug 24 at 1:05PM
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 KELLER WILLIAMS REALTY- PALM H
Investment Insights
Based on property information with market context.
This 8,516± SF industrial property is located in Pinellas Park’s active industrial corridor, situated just off US Hwy 19, providing exposure to over 66,000 vehicles per day. The property includes approximately 7,200± SF of warehouse space and 700± SF of office space on a 0.47± acre lot. Configured into multiple small-bay units, it offers flexible occupancy options for investors or owner-users. The property features 24 grade-level overhead doors (9’ x 8’), block construction, and 9.5’ ceiling heights. It also includes secured outdoor areas and a recently installed TPO roof. Existing automotive infrastructure, including lifts and equipment associated with the current automotive tenant, makes it suitable for automotive, marine, contractor, service, fabrication, or light-industrial uses. Currently configured as 27 leasable units with month-to-month tenancy, the asset provides immediate cash flow and the ability to raise rents to market levels, restructure tenancy, or occupy a portion of the property for an owner-user operation.
Key Highlights
- High‑traffic location off US Hwy 19 with 66,000+ vehicles per day exposure.
- Flexible occupancy options for investors or owner‑users with multiple small‑bay units.
- Existing automotive infrastructure (lifts and equipment) ideal for automotive/industrial businesses.
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
$77,045
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
3.35%
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%
$1,540,900
$1.5M
Cap Rate 7%
$1,100,643
$1.1M
Cap Rate 9%
$856,056
$856.1K
Market Conditions
NOI Build-Up for 8,516 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
$125.7K $14.76/SF
− Vacancy
−$7.2K −$0.84/SF
EGI
$118.5K $13.92/SF
− OpEx
−$41.5K −$4.87/SF
NOI
$77.0K $9.05/SF
Area
Pinellas County, FL
Vacancy
5.70%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
35.00%
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%
$1,540,900
Cap Rate 7%
$1,100,643
Cap Rate 9%
$856,056
Alternative Uses
Best Use
Flex RnD
$1.10M
$963.1K – $1.28M
NOI $77,045 @ 7.0% cap · market cap 3.35%
Second Best
Industrial
$892.2K
$780.7K – $1.04M
NOI $62,455 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$2.22M
$1.94M – $2.58M
NOI $155,056 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33781, FL
27,349
Population
12,370
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
82%
High-School Grad
6.6 sq mi
ZIP Area
4,144
Density / Sq Mi
$55,378
Median Household Income
$37,039
Median Earnings
$1,197
Median Rent
$251,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Catering By Lundy's — 3851 62nd Ave N suite b, Pinellas Park, FL 33781
Frequently Asked Questions
What type of property is this?
Flex space - 8,516 SF industrial property in Pinellas Park's industrial corridor.
Where is this flex space located?
The property is located at 3580 66TH AVENUE N Pinellas Park, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: High‑traffic location off US Hwy 19 with **66,000+ vehicles per day exposure**.; Flexible occupancy options for investors or owner‑users with multiple small‑bay units.; Existing automotive infrastructure (lifts and equipment) ideal for automotive/industrial businesses.
