Industrial/Office Building Former Leather Manufacturing

Industrial for Sale
Sale Pending
Catylist Listing ID: 30780504
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Office Showroom, Self Storage, Warehouse/Distribution
Status: Pending
Building Size (RSF): 63,363 SF
Gross Land Area: 220,070 SF
Sale Price: $5,995,000
Unit Price: $94.61 PSF
Ceiling: 12 ft.
Docks/Doors: 1 Dock, 2 Doors
Property Use Type: Investment, Vacant/Owner-User
Building Name: Former Roma Leather Manufacturing
Usable Size (USF): 62,445 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

Market prices continue to establish new records and
despite significant market cap rate compression over the
past decade, Tampa yields still are attractive when
compared against the National Index and particularly
against coastal and gateway markets.

Office investment activity has sharply increased in recent
quarters, and annual sales volume is roughly double
2020 levels. Volume exceeded $300 million in 21Q2 for
the first time during the pandemic era led by the June
sales of Two Harbour Place and Highwoods Preserve VII
and in one example of shifting office occupier
preferences, the $24 million sale of Kforce's Ybor City
headquarters as part of the firm's pandemic-era
downsizing efforts.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: Pinellas County
Tax ID/APN: 16 30 18 71061 000 0300
Property Located Between: Between Bryan Dairy and 114th Ave On 72nd St. N.
Highway Access: Located just off of Bryan Dairy Rd.
Airports: St. Petersburg close by. Tampa Intl. within 30 minutes
Area Description: The Mid-Pinellas Submarket in Tampa is a large submarket relative to the national norm and contains about 6.1 million SF of office space. The vacancy rate has fallen a bit over the past year, and at 7.0%, the rate was well below the 10-year average as of 2021Q4.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 32,650 SF
Property Condition: Average
Year Built: 1988
Roof Type: Flat
Construction/Siding: Block, Stucco
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Parking Ratio 3.97/1,000 SF All surface
Total Parking Spaces: 250
Column Spacing: 30x20
Freight Elevators: 1
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 4,000
Volts: 240
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Lighting: LED, Fluorescent
Internet Access: Cable, DSL, ISDN, T1/T3, Fiber Optic
Interior Description: There's a mix of Warehouse and Office space within several separate demised areas of the Building
Zoning Description: 4120 / LIGHT MANUFACTURING (county) 41 / LIGHT MANUFACTURE (state)
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,838 115,492 306,582
Median Age: 43.58 44.27 45.96
Households: 3,942 48,828 136,913
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