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Warehouse

St Pete Small-Bay

3500 Morris St N, St. Petersburg, FL 33713

Listing Price: $1,750,000

Cap Rate
5.40%
Gross SF
12,311
Price/Gross SF
$142.15
Lot Size
0.57 acres
Year Built
1981
Rentable SF
12,311

Investment Overview

Marcus & Millichap is excited to present for sale St. Pete Small-Bay, situated in St. Petersburg, FL. This property encompasses 65 standard, small-bay industrial and storage units. Constructed in 1981, the facility spans 12,311 rentable square feet and features an occupancy rate of 91 percent. Nestled on 0.57 acres, St. Pete Small-Bay provides a multitude of bay sizes ranging from 50 to 625 square feet, with most unit sizes being 250 square feet.

Conveniently located at 3500 Morris Street N, this facility resides in the rapidly expanding St. Petersburg area, just four miles north of downtown, and only ten miles south of the St. Pete–Clearwater International Airport. This presents a remarkable opportunity for investors to acquire a well-established self-storage asset with the potenti l for further growth through continued rental rate increases and lease-up.

Investment Highlights

  • Rare Investment Opportunity: Located in a market that has limited available inventory, limited vacancy and strong demand for commercial storage
  • Below Replacement Cost: Priced to sell, well-below replacement cost
  • Strategic Location: Less than four miles from Downtown St. Pete, and 137,000 people within a 3-mile radius
  • Value-Add Opportunity: 91-percent occupied, with the ability to lease up and continue to push rents

Exclusively Listed By

Warehouse

St Pete Small-Bay

Listing Price: $1,750,000

Cap Rate
5.40%
Gross SF
12,311
Price/Gross SF
$142.15
Lot Size
0.57 acres
Year Built
1981
Rentable SF
12,311

Investment Highlights

  • Rare Investment Opportunity: Located in a market that has limited available inventory, limited vacancy and strong demand for commercial storage
  • Below Replacement Cost: Priced to sell, well-below replacement cost
  • Strategic Location: Less than four miles from Downtown St. Pete, and 137,000 people within a 3-mile radius
  • Value-Add Opportunity: 91-percent occupied, with the ability to lease up and continue to push rents

Investment Overview

Marcus & Millichap is excited to present for sale St. Pete Small-Bay, situated in St. Petersburg, FL. This property encompasses 65 standard, small-bay industrial and storage units. Constructed in 1981, the facility spans 12,311 rentable square feet and features an occupancy rate of 91 percent. Nestled on 0.57 acres, St. Pete Small-Bay provides a multitude of bay sizes ranging from 50 to 625 square feet, with most unit sizes being 250 square feet. Conveniently located at 3500 Morris Street N, this facility resides in the rapidly expanding St. Petersburg area, just four miles north of downtown, and only ten miles south of the St. Pete–Clearwater International Airport. This presents a remarkable opportunity for investors to acquire a well-established self-storage asset with the potenti l for further growth through continued rental rate increases and lease-up.

Exclusively Listed By

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