495 Brady Rd Tarpon Springs, FL 34689-4245

Property Details for 495 Brady Rd

Lot size

0.66 lot acres

Property type

Industrial land

APN

02-27-15-75760-002-0200

APU

22715757600020200

Description

This exceptional investment opportunity presents a stabilized, Class A industrial park in Tarpon Springs, Florida. The property comprises three modern, single-story buildings totaling 72,000 square feet, each featuring 24,000 square feet of net rentable space. Currently boasting 100% occupancy with 33 tenants across 32 units, the park offers a strong current NOI of $609,175 and a 4.41% cap rate. Significant value-add potential exists due to a low weighted average lease term (WALT), with numerous leases up for renegotiation in the near future, projecting a pro-forma NOI of $914,000 and a 6.62% pro-forma cap rate. The park features 34 loading docks and 24-foot ceiling heights. Built in 2023, the buildings showcase a blend of masonry and metal construction, demonstrating exceptional storm resilience, having withstood recent hurricanes without damage. The property also includes a man-made pond, enhancing its aesthetic appeal. Further expansion opportunities exist with pre-approved plans for an additional 20,250-square-foot building and nearly 100,000 square feet of adjacent land available for development. This fee-simple offering is priced at $13,800,000, representing a price per square foot of $191.67. The property's prime location in the rapidly growing Southwest Florida market, coupled with its high-quality construction and significant upside potential, makes it an attractive investment.