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Absolute NNN Food Service Facility 1540 12th St 10,540 SF Industrial Building Palmetto, FL 34221 $2,526,471 CAD ($239.70 CAD/SF) 7.45% Cap Rate
Investment Highlights
- Food Service Infrastructure
- Absolute NNN
- Replaceable Rent
- Stable Long-Term Investment
- Limited Supply
- Strategic Location
Executive Summary
Property Highlights
- Food Service Infrastructure - Purpose-built for food production, the facility includes specialized food-grade infrastructure that is costly to replicate, supporting long-term tenancy and reducing re-tenanting risk.
- Stable Long-Term Investment: The current tenant is backed by a large private equity group and has operated at this location since 2013, demonstrating a proven track record and strong commitment to the site.
- Absolute NNN: This opportunity offers true hands-off cash flow, with the tenant responsible for all property-related expenses, including roof and structure, taxes, insurance, utilities, and general maintenance.
- Limited Supply: There is a notable shortage of warehouse developments under 25,000 SF, particularly for assets with similar characteristics, positioning the property favorably within the market.
- Replaceable Rent: Based on recent lease comparables, the current rent of $13.09/SF (Effective June 1st, 2026) is very achievable. Limited supply and strong demand from private users continue to support leasing for assets of this size.
- Strategic Location – Centrally located in the Palmetto industrial corridor, this property offers strong accessibility. Positioned just off US-301 (23,000 AADT), it provides direct access to major state roads and highways throughout the submarket, ensuring efficient transportation and logistics connectivity.
± 0.3 miles from US-301
± 3 miles from I-75
± 23 miles from Downtown St. Petersburg
± 15 miles from Downtown Sarasota
± 44 miles from Downtown Tampa
± 13 miles from Sarasota Bradenton International Airport
Broker of Record
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
- Food Service Infrastructure - Purpose-built for food production, the facility includes specialized food-grade infrastructure that is costly to replicate, supporting long-term tenancy and reducing re-tenanting risk.
- Stable Long-Term Investment: The current tenant is backed by a large private equity group and has operated at this location since 2013, demonstrating a proven track record and strong commitment to the site.
- Absolute NNN: This opportunity offers true hands-off cash flow, with the tenant responsible for all property-related expenses, including roof and structure, taxes, insurance, utilities, and general maintenance.
- Limited Supply: There is a notable shortage of warehouse developments under 25,000 SF, particularly for assets with similar characteristics, positioning the property favorably within the market.
- Replaceable Rent: Based on recent lease comparables, the current rent of $13.09/SF (Effective June 1st, 2026) is very achievable. Limited supply and strong demand from private users continue to support leasing for assets of this size.
- Strategic Location – Centrally located in the Palmetto industrial corridor, this property offers strong accessibility. Positioned just off US-301 (23,000 AADT), it provides direct access to major state roads and highways throughout the submarket, ensuring efficient transportation and logistics connectivity.
± 0.3 miles from US-301
± 3 miles from I-75
± 23 miles from Downtown St. Petersburg
± 15 miles from Downtown Sarasota
± 44 miles from Downtown Tampa
± 13 miles from Sarasota Bradenton International Airport
Broker of Record
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $2,526,471 CAD | Rentable Building Area | 10,540 SF |
| Price Per SF | $239.70 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1997 |
| Cap Rate | 7.45% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 2.01/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 16’ |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 1.10 AC | ||
| Zoning | CHI - Heavy Commercial and Light Industrial, allows for intense commercial and light industrial activities. | ||
| Price | $2,526,471 CAD |
| Price Per SF | $239.70 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 7.45% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.10 AC |
| Rentable Building Area | 10,540 SF |
| No. Stories | 1 |
| Year Built | 1997 |
| Tenancy | Single |
| Parking Ratio | 2.01/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | CHI - Heavy Commercial and Light Industrial, allows for intense commercial and light industrial activities. |
Amenities
- Fenced Lot
- Skylights
- Yard
Utilities
- Lighting
- Water - County
- Sewer - County
- Heating
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 25823-0005-9 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,035,773 CAD |
Property Taxes
Parcel Number
25823-0005-9
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,035,773 CAD
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Absolute NNN Food Service Facility | 1540 12th St
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