Industrial Space Overview
This fenced warehouse near Tampa airport offers a rare ownership opportunity. Ideal for owner-users seeking ample space, with high ceilings (18'-24') for storage, spacious office areas (around 2,000 sq ft), and a secure fenced-in area with over 50 parking spaces. Additionally, the warehouse features 100 linear feet of concrete dock with a triple truck well and a 12' x 14' door with ramp access.
For investors, this property presents a prime 1031 exchange opportunity. The current lease for 14,032 sq ft ends on 8/31/2023, with the national tenant expressing interest in extending their lease. A new lease could significantly increase the net operating income (NOI), currently at $200,055 with a cap rate of 5.01%. Proforma projections estimate an NOI of $255,000 and a cap rate of 6.5% with a renewed lease at 8/31/23 and 3/31/24.
For investors, this property presents a prime 1031 exchange opportunity. The current lease for 14,032 sq ft ends on 8/31/2023, with the national tenant expressing interest in extending their lease. A new lease could significantly increase the net operating income (NOI), currently at $200,055 with a cap rate of 5.01%. Proforma projections estimate an NOI of $255,000 and a cap rate of 6.5% with a renewed lease at 8/31/23 and 3/31/24.
