Pinellas Park Warehouse with
For Sale
Contact for pricing
4181 116th Terrace N, Clearwater, FL 33762
Tenant-occupied warehouse with office space near US 19.
Property Size8,280 SF
Lot Size0.50 Acres
Price / SF$160.02
Days on Market854
Property Features for 4181 116th Terrace N
General Information
Standard status
Active
Size
8,280 SF
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
M-1
Listing Agency:
Florida Commercial Group
(813) 997-4321
Listed By:
Tina Marie Eloian · License #BK653748
Source:
Crexi
Added: Apr 10, 2024
Changed: Aug 8
Last Checked: May 13 at 12:26AM
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 Florida Commercial Group
Investment Insights
Based on property information with market context.
This Pinellas Park property features a warehouse with an adjoining office. The property is currently tenant occupied with a lease term ending January 31st, 2026, and includes three 1-year tenant renewals. The building, situated on approximately half an acre, measures 8,280 square feet. The office component comprises 2,400 square feet, while the warehouse provides 5,880 square feet of space. Located just off US 19 and 118th Avenue N, this property offers a warehouse space with a large office. The warehouse is constructed of concrete with a metal roof and features two roll-up doors and an approximate 15-foot clear ceiling height, suitable for vertical storage. The office space includes several offices, a conference room, a file room, a kitchen, a breakroom, and two universal restrooms. Onsite parking is available with 14 or more spaces, including 4 covered parking spaces.
Key Highlights
- Tenant occupied investment property with lease ending January 31st, 2026, and (3) 1‑year renewal options.
- 8,280 SF building on ½ acre with 2,400 SF office and 5,880 SF warehouse.
- Located just off US 19 and 118th Avenue N.
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
$69,729
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
5.26%
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%
$1,394,580
$1.4M
Cap Rate 7%
$996,129
$996.1K
Cap Rate 9%
$774,767
$774.8K
Market Conditions
NOI Build-Up for 8,280 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
$86.4K $10.44/SF
− Vacancy
−$4.4K −$0.53/SF
EGI
$82.0K $9.91/SF
− OpEx
−$12.3K −$1.49/SF
NOI
$69.7K $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%
$1,394,580
Cap Rate 7%
$996,129
Cap Rate 9%
$774,767
Alternative Uses
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,257 @ 7.0% cap · market cap 11.26%
Second Best
Warehouse
$996.1K
$871.6K – $1.16M
NOI $69,729 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,612 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Well-served
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 Office in South region
Questions? Ask Rey
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- PowerHouse Moving LLC — US Hwy 19 N, Clearwater, FL 33764
Frequently Asked Questions
What type of property is this?
Warehouse - Tenant-occupied warehouse with office space near US 19.
Where is this warehouse located?
The property is located at 4181 116th Terrace N Clearwater, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Tenant occupied investment property with lease ending January 31st, 2026, and (3) 1‑year renewal options.; 8,280 SF building on ½ acre with **2,400 SF office and 5,880 SF warehouse.**; Located just off US 19 and 118th Avenue N.
