Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present Sunshine Industrial Center, a 56,597 square-foot, multi-tenant, small-bay industrial warehouse located at 6399 N. 142nd Avenue in Clearwater, Florida. Built in 1986 on 3.9 acres, the Property is offered at $7,500,000, representing a 7.0% cap rate on in-place NOI of $526,452. The Property is currently 90.5% occupied across 17 suites, offering a new owner a stable, cash-flowing asset with room to grow. Projected NOI growth to $612,330 by Year 3 reflects lease-up of the two vacant suites alongside contractual rent escalations already in place across the rent roll. The building offers both grade-level and dock-high loading - ten 12- foot grade-level doors and two additional 12-foot dock-high doors - with clear heights of approximately 16 feet, well-suited to the small-bay tenants that continue to drive demand in this submarket. The roof was replaced with warranty coverage through 2037, and the Property has received over $460,000 in capital expenditures since 2017. Sunshine Industrial is centrally located in Pinellas County, Florida's most densely populated county, directly off US Highway 19, which carries approximately 72,000 vehicles per day at this location. The site is approximately 3.5 miles from St. Pete-Clearwater International Airport. The surrounding two-mile radius supports a population of over 75,500 residents and average household income of $85,346.