Commercial Property Near
For Sale
$865,000
6401 35TH St N, Pinellas Park, FL 33781
6,960 SF commercial property on corner lot near I-275.
Property Size4,832 SF
Lot Size0.30 Acres
Price / SF$124.28
Days on Market153
Property Features for 6401 35TH St N
General Information
Standard status
Active
Size
4,832 SF
Lot size
0.30 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$7,086
Building Details
Building Size
4,832 SF
Year Built
1967
Stories
1
Listing Agency:
COASTAL PROPERTIES GROUP INTERNATIONAL
(480) 255-4500
Listed By:
Anthony Santana · License #SA670228000
(480) 255-4500
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:51AM
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 COASTAL PROPERTIES GROUP INTERNATIONAL
Investment Insights
Based on property information with market context.
This commercial property offers 6,960 square feet of space on a corner lot. It features two separate buildings that include office space and four bathrooms, one of which has a shower. The property also has a canopy suitable for RVs or trucks, multiple garage doors, and both gated and open parking areas. Zoned M-1 Light Industrial, the property benefits from excellent visibility and convenient access to retail establishments, dining options, and major highways, including I-275 and FL-694. This property is suitable for investors or growing businesses.
Key Highlights
- Prime 6,960 SF commercial property on a corner lot
- Zoned M‑1 Light Industrial with excellent visibility and access
- Located near I‑275 & FL‑694
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
$68,330
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
7.90%
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%
$1,366,600
$1.4M
Cap Rate 7%
$976,143
$976.1K
Cap Rate 9%
$759,222
$759.2K
Market Conditions
NOI Build-Up for 6,960 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
$104.4K $15.00/SF
− Vacancy
−$6.8K −$0.98/SF
EGI
$97.6K $14.03/SF
− OpEx
−$29.3K −$4.21/SF
NOI
$68.3K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,366,600
Cap Rate 7%
$976,143
Cap Rate 9%
$759,222
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $108,063 @ 7.0% cap · market cap 12.49%
Second Best
Retail
$976.1K
$854.1K – $1.14M
NOI $68,330 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,725 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
750
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 6,960 SF commercial property on corner lot near I-275.
Where is this flex space located?
The property is located at 6401 35TH St N Pinellas Park, FL.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Prime 6,960 SF commercial property on a corner lot; Zoned M‑1 Light Industrial with excellent visibility and access; Located near I‑275 & FL‑694
