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620 Union St 3,600 SF Industrial Building Dunedin, FL 34698 $950,000 ($263.89/SF) 4.45% Cap Rate
Executive Summary
Leased light industrial investment with contractual 3% annual rent increases, providing stable income and long-term upside in Dunedin's supply-constrained industrial market.
Positioned in one of Pinellas County's most supply-constrained industrial submarkets, this 3,600 FT light industrial asset in Dunedin offers investors stable income today with built-in growth and long term optionality.
The property features a functional office/warehouse layout and is currently leased to an established tenant at $4,150/month with 3% annual increases, providing predictable income growth over the remaining lease term. The configuration also allows for potential division into two units, creating future flexibility for multi-tenant leasing or partial owner-user occupancy.
At the current asking price of $950,000, the property offers an estimated 4.45% cap rate with contractual rent growth that increases forward yield over time, making it an attractive core-plus industrial hold in a coastal Florida market where industrial inventory remains limited.
Industrial assets in Dunedin and the greater Pinellas County market continue to experience strong demand and limited new supply, supporting long-term tenant demand and value stability.
This opportunity is well suited for:
- Investors seeking stable income with contractual rent increases.
- Buyers looking for long-term industrial exposure in a high-barrier coastal market.
- Owner-users seeking future flexibility while collecting income.
With durability tenancy, annual rent growth, and multiple future positioning strategies, this property represents a compelling opportunity to acquire a well-located light industrial asset in a market where similar properties rarely become available.
Positioned in one of Pinellas County's most supply-constrained industrial submarkets, this 3,600 FT light industrial asset in Dunedin offers investors stable income today with built-in growth and long term optionality.
The property features a functional office/warehouse layout and is currently leased to an established tenant at $4,150/month with 3% annual increases, providing predictable income growth over the remaining lease term. The configuration also allows for potential division into two units, creating future flexibility for multi-tenant leasing or partial owner-user occupancy.
At the current asking price of $950,000, the property offers an estimated 4.45% cap rate with contractual rent growth that increases forward yield over time, making it an attractive core-plus industrial hold in a coastal Florida market where industrial inventory remains limited.
Industrial assets in Dunedin and the greater Pinellas County market continue to experience strong demand and limited new supply, supporting long-term tenant demand and value stability.
This opportunity is well suited for:
- Investors seeking stable income with contractual rent increases.
- Buyers looking for long-term industrial exposure in a high-barrier coastal market.
- Owner-users seeking future flexibility while collecting income.
With durability tenancy, annual rent growth, and multiple future positioning strategies, this property represents a compelling opportunity to acquire a well-located light industrial asset in a market where similar properties rarely become available.
Property Facts
| Price | $950,000 | Lot Size | 0.19 AC |
| Price Per SF | $263.89 | Rentable Building Area | 3,600 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 4.45% | Year Built | 1971 |
| Sale Condition | Lease Option | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 2.78/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 10’ |
| Building Class | C | ||
| Zoning | NB - Neighborhood Business, Light Manufacturing. Commercial, retail, medical, restaurants, convenience stores, land allows 15 residential units per acre. | ||
| Price | $950,000 |
| Price Per SF | $263.89 |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| Sale Condition | Lease Option |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.19 AC |
| Rentable Building Area | 3,600 SF |
| No. Stories | 1 |
| Year Built | 1971 |
| Tenancy | Single |
| Parking Ratio | 2.78/1,000 SF |
| Clear Ceiling Height | 10’ |
| Zoning | NB - Neighborhood Business, Light Manufacturing. Commercial, retail, medical, restaurants, convenience stores, land allows 15 residential units per acre. |
Amenities
- Signage
- Storage Space
Utilities
- Water - City
- Sewer - City
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Bike Score®
Very Bikeable (71)
Property Taxes
| Parcel Number | 34-28-15-21060-000-1080 | Improvements Assessment | $400,660 |
| Land Assessment | $214,340 | Total Assessment | $615,000 |
Property Taxes
Parcel Number
34-28-15-21060-000-1080
Land Assessment
$214,340
Improvements Assessment
$400,660
Total Assessment
$615,000
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620 Union St
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