3637 131st Avenue North
|Catylist Listing ID:
Manufacturing, Self Storage, Warehouse/Distribution
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
|Property Use Type:
||Net Leased Investment (NNN), Investment
||Cash to Seller
Overview / Comments
Broker: Ned Willis - NWillis@VectorRealty.com
Excellent investment opportunity for your 1031 exchange buyer. The NOI is $101,000+ and offers a CAP rate at just over 8%. Two years remain on the lease with two 1-year options. The current rental rate is $5.00 NNN. The renewal terms are at $5.50 and $5.67. The building was built in 1984 and offers 20' clear height, 1.2 acres, new roof in 2012, and a premium location. The property is located just off Ulmerton Road and 38th Street North across Ulmerton Road from the St. Pete/Clearwater Airport.
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