Multi-Tenant Small-Bay
For Sale
$7,500,000
6399 142nd Ave N, Clearwater, FL 33760
Income-producing industrial space with varied loading access, multiple suites, and a recently replaced roof.
Property Size56,597 SF
Lot Size3.90 Acres
Price / SF$132.52
Days on Market11
Property Features for 6399 142nd Ave N
General Information
Standard status
Active
Size
56,597 SF
Lot size
3.90 Acres
Property subtype
Warehouse
Occupancy
91%
Net Operating Income
$526,452
Financials
Asking Price
$7,500,000
Cap Rate
7%
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
56,597 SF
Dock-High Doors
2
Drive-In Doors
10
Amenities
Value-Add, Small-Bay Warehouse in Premier Market
Central Pinellas County Location Near US Highway 19
12-Foot Loading Bay Doors - 10 Grade-Level and 2 Dock-High
Approximately 16-Foot Maximum Clear Heights
Over $460,000 in Capital Expenditures Completed Since 2017
New Roof Installed in 2017, Warranty Through 2037
Located in the Most Densely Populated County in Florida (Pinellas)
Proximity to St. Pete-Clearwater Airport (3.5 miles)
Building Details
Building Size
56,597 SF
Year Built
1986
Tenancy
Multi
Listing Agency:
(954) 245-3465
Listed By:
Doug Mandel · License #License(s): FL: SL3090637
(954) 245-3465
Source:
Marcusmillichap
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 30 at 1:21PM
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 Doug Mandel
Investment Insights
Based on property information with market context.
Sunshine Industrial Center is a 56,597-square-foot warehouse property completed in 1986 on 3.9 acres. The multi-tenant layout contains 17 suites and includes ten 12-foot grade-level doors plus two 12-foot dock-high doors. Approximately 16 feet of clear height supports a range of small-bay industrial operations. The roof replacement carries warranty coverage through 2037, and capital improvements totaling over $460,000 have been completed since 2017.
The property is positioned at 6399 142nd Ave N in Clearwater, Florida, with access to US Highway 19. That roadway records approximately 72,000 vehicles per day at this location. St. Pete-Clearwater International Airport is approximately 3.5 miles away, while the surrounding two-mile area includes over 75,500 residents and average household income of $85,346.
Occupancy is 90.5% across the suite count, with two vacant suites identified in the property information. The asset has a 7.0% cap rate and documented contractual rent escalations within the existing rent roll.
The property is positioned at 6399 142nd Ave N in Clearwater, Florida, with access to US Highway 19. That roadway records approximately 72,000 vehicles per day at this location. St. Pete-Clearwater International Airport is approximately 3.5 miles away, while the surrounding two-mile area includes over 75,500 residents and average household income of $85,346.
Occupancy is 90.5% across the suite count, with two vacant suites identified in the property information. The asset has a 7.0% cap rate and documented contractual rent escalations within the existing rent roll.
Key Highlights
- 56,597‑square‑foot multi‑tenant warehouse on 3.9 acres
- 17 suites with 90.5% occupancy
- Ten 12‑foot grade‑level doors and two 12‑foot dock‑high doors
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
$476,627
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
6.36%
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%
$9,532,540
$9.5M
Cap Rate 7%
$6,808,957
$6.8M
Cap Rate 9%
$5,295,856
$5.3M
Market Conditions
NOI Build-Up for 56,597 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
$590.9K $10.44/SF
− Vacancy
−$30.1K −$0.53/SF
EGI
$560.7K $9.91/SF
− OpEx
−$84.1K −$1.49/SF
NOI
$476.6K $8.42/SF
Area
Clearwater, 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%
$9,532,540
Cap Rate 7%
$6,808,957
Cap Rate 9%
$5,295,856
Alternative Uses
Best Use
Warehouse
$6.81M
$5.96M – $7.94M
NOI $476,627 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.88M
$13.89M – $18.53M
NOI $1,111,514 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Dock-high doors
10
Drive-in doors
90.5%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33760, FL
19,565
Population
8,779
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
3,494
Density / Sq Mi
$59,489
Median Household Income
$39,509
Median Earnings
$1,446
Median Rent
$245,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rock's Moving Company — 6000 Ulmerton Rd, Clearwater, FL 33760
- Self-Storage at U-Haul — 13564 66th St N, Largo, FL 33771
- Florida Van Lines — 13755 US Hwy 19 N, Clearwater, FL 33764
- Florida Digital Document Management Systems, LLC — Summit Executive Center, 13575 58th Street North, #200, Clearwater, FL 33760, United States
- Keep IT local — 14300 66th St N, Clearwater, FL 33764
Frequently Asked Questions
What type of property is this?
Warehouse - Income-producing industrial space with varied loading access, multiple suites, and a recently replaced roof.
Where is this warehouse located?
The property is located at 6399 142nd Ave N Clearwater, FL.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 56,597‑square‑foot multi‑tenant warehouse on 3.9 acres; 17 suites with 90.5% occupancy; Ten 12‑foot grade‑level doors and two 12‑foot dock‑high doors
