Fully Leased Multi-Unit Industrial
For Sale
$3,250,000
Pending
4501 107 CIRCLE N, Clearwater, FL 33762
Fully leased multi-unit industrial property in a well-located business area.
Property Size22,400 SF
Lot Size2.53 Acres
Days on Market181
Property Features for 4501 107 CIRCLE N
General Information
Standard status
Pending
Size
22,400 SF
Lot size
2.53 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,453
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Concrete Flooring
Shingle Roof
Zoned Cooling
Building Details
Year Built
1986
Listing Agency:
REALTY EXPERTS
(727) 888-1000
Listed By:
CARTER CLARKE, IV · License #3289085
Source:
Corcoran
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 8 at 4:31AM
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 REALTY EXPERTS
Investment Insights
Based on property information with market context.
The property at 4501-4521 107th Cir N offers an opportunity to acquire a fully leased, multi-unit property situated in a well-located business area. The property includes two buildings, each measuring 11,200 square feet, for a total of 22,400 square feet. These buildings are divided into ten light industrial units, all of which are currently leased, providing immediate and stable income. The units are suitable for light industrial uses such as service, storage, distribution, and contractor operations. The property features functional layouts, on-site parking, and convenient access, with close proximity to major thoroughfares and surrounding commercial users.
Key Highlights
- Fully leased property providing immediate and stable income.
- Two buildings totaling ten light industrial units.
- Well‑suited for a range of light industrial uses (service, storage, distribution, contractor operations).
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
$202,656
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
6.24%
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%
$4,053,120
$4.1M
Cap Rate 7%
$2,895,086
$2.9M
Cap Rate 9%
$2,251,733
$2.3M
Market Conditions
NOI Build-Up for 22,400 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
$330.6K $14.76/SF
− Vacancy
−$18.8K −$0.84/SF
EGI
$311.8K $13.92/SF
− OpEx
−$109.1K −$4.87/SF
NOI
$202.7K $9.05/SF
Area
Clearwater, 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%
$4,053,120
Cap Rate 7%
$2,895,086
Cap Rate 9%
$2,251,733
Alternative Uses
Best Use
Flex RnD
$2.90M
$2.53M – $3.38M
NOI $202,656 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$2.69M
$2.36M – $3.14M
NOI $188,640 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$6.28M
$5.50M – $7.33M
NOI $439,916 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33762, FL
5,572
Population
3,117
Households
1.8
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
7.1 sq mi
ZIP Area
785
Density / Sq Mi
$91,024
Median Household Income
$51,596
Median Earnings
$1,711
Median Rent
$332,000
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?
Flex space - Fully leased multi-unit industrial property in a well-located business area.
Where is this flex space located?
The property is located at 4501 107 CIRCLE N Clearwater, FL.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Fully leased property providing immediate and stable income.; Two buildings totaling ten light industrial units.; Well‑suited for a range of light industrial uses (service, storage, distribution, contractor operations).
