3500 Morris N St Saint Petersburg, FL 33713-1629
- Warehouses
- 12,272 SF
- 0.57 lot acres
Sep 09, 2024
Current Use by Public Records
- Cabessa Storage - Saint Petersburg / Storage Facility
Property Details for 3500 Morris N St
- Year built
- 1981
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.57 lot acres
- Property size
- 12,272 SF
- Property type
- Warehouses
- APN
- 11-31-16-61704-002-0080
- APU
- 113116617040020080
Description
This exceptional 12,752-square-foot warehouse, situated on a 0.57-acre lot in St. Petersburg, Florida, presents a compelling investment opportunity. Built in 1981, this single-story industrial property boasts a desirable IT zoning designation. The asking price is $1,750,000, translating to $137.23 per square foot – a price point significantly below replacement cost. The property's address is 3500 Morris St N, St. Petersburg, FL 33713, conveniently located less than four miles from downtown St. Petersburg. The entire 12,752 square feet is net rentable. Currently, the occupancy rate stands at 77.5%. This warehouse offers significant potential for a variety of uses, given its size, location, and zoning. The property is owned by ASI CABESSA and presents a rare chance to acquire a well-positioned industrial asset in a thriving Florida market. Its single-building structure simplifies management and maintenance. Serious inquiries are encouraged to explore this attractive investment prospect further. The property is located in Pinellas County.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,795,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,720,000
- 6.5%
- $1,590,000
- 7%
- $1,475,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,776,000
- AI Estimate
- $2,776,000
Market price range: $1.88M - $4.04MMarket price range: $1.88M - $4.04M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $3,155,000 Current use
- RETAIL STORES
- $2,895,000 Change: -8% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Saint Petersburg
- County
- Pinellas
- State
- Florida
- Longitude
- -82.6731
- Latitude
- 27.8037
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA