Warehouse-Office Facility in Central
4677 118TH N AVENUE Clearwater, FL 33762
For Sale
$6,449,000
46,233 SF warehouse-office property with digital signage and modern amenities.
Property Size46,233 SF
Lot Size2.55 Acres
Price / SF$139.49
Days on Market547
Property Features for 4677 118TH N AVENUE
General Information
Standard status
Active
Size
46,233 SF
Lot size
2.55 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1978
Listing Agency:
BRODERICK & ASSOCIATES INC
(727) 544-1403
Listed By:
Roger Broderick · License #009863
(727) 544-1403
Source:
Exitrealty
Added: Jan 27, 2025
Changed: Jul 6
Last Checked: Jul 27 at 11:17AM
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 BRODERICK & ASSOCIATES INC
Investment Insights
Based on property information with market context.
This 46,233-square-foot warehouse-office property is located in Central Pinellas County, Florida. Built in 1978, this pre-engineered steel building has been maintained and remodeled, including a new roof. The facility features 18,380 square feet of formal office spaces, classrooms, and training rooms. The remaining area is designed for warehouse or industrial use, supported by seven overhead doors, a 24-foot eave height, and a peak ceiling height of 28.5 feet. The property includes 6'X12' digital pylon signage on the major east-west corridor of 118th Avenue and 49th Street, providing visibility and access to Tampa, St. Petersburg, and Clearwater via the interstate system. Currently, 24% of the building is leased under a triple net agreement at $11 per square foot, generating income through February 2026. A deep well supports an irrigation system for the landscaped grounds. The site includes 138 parking spaces, with 36 public-facing spaces at the front and 102 secured within a gated compound. Operational efficiency is enhanced by a 150-kilowatt Caterpillar diesel generator, which powers the entire building during outages, and a dedicated 16-kilowatt generator for the server room. Additionally, the property offers 66.5 tons of air conditioning across 20 systems. This two-story facility is suited for corporate offices, training centers, manufacturing, distribution, or mixed-use operations. The property provides a turnkey solution for businesses seeking a versatile and well-equipped facility. It offers interstate connectivity and a central location in the Tampa Bay area.
Key Highlights
- Prime Central Pinellas County location with excellent visibility.
- Significant income generation from existing triple net lease ($11 per square foot) covering 24% of the building through February 2026.
- Versatile space with 18,380 sq ft of office/classroom/training space and warehouse/industrial area with seven overhead doors, 24‑foot eave height, and 28.5‑foot peak ceiling height.
Financial Insights For Flex RnD
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 | $682.4k | $14.76 |
| − Vacancy | −$38.9k | −$0.84 |
| EGI | $643.5k | $13.92 |
| − OpEx | −$225.2k | −$4.87 |
| NOI | $418.3k | $9.05 |
46,233 SF · lease $14.76/SF/yr · vacancy 5.70% · expense 35.00%
Alternative Uses
Best Use
Office B
$11.91M
$10.42M – $13.89M
NOI $833,405 @ 7.0% cap · market cap 12.92%
Second Best
Flex RnD
$5.98M
$5.23M – $6.97M
NOI $418,277 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$12.97M
$11.35M – $15.13M
NOI $907,975 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Engine 53 Pizza/ Fire Engine Enterprises, LLC — 12001 49th St N, Clearwater, FL 33762
- R2 Provisions — 4521 107th Cir N #4, Clearwater, FL 33762
- Chouinard's Cuisine — 4521 107th cir n, clearwater, fl 33762
Frequently Asked Questions
What type of property is this?
Flex space - 46,233 SF warehouse-office property with digital signage and modern amenities.
Where is this flex space located?
The property is located at 4677 118TH N AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $6,449,000.
What are key features of this property?
This property features: Prime Central Pinellas County location with excellent visibility.; Significant income generation from existing triple net lease ($11 per square foot) covering 24% of the building through February 2026.; Versatile space with 18,380 sq ft of office/classroom/training space and warehouse/industrial area with seven overhead doors, 24‑foot eave height, and 28.5‑foot peak ceiling height.
