620 UNION STREET at

620 UNION STREET

For sale Days on market 21

$950,000

$264/sq ft

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Overview

Year Built

1971

Sqft

3600

Property Type

Mixed Use

Property Description

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.

Property Details

MLS#

TB8477471

Total Floor in Bldg

Address

620 UNION

City

DUNEDIN

State/county

Zip/Postal Code

34698

Area

Dexter Park 1st Add

Country

United States

HOA

Yes

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$10,825

Maint Fee

$--

Tax Year

2025

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