Pelwood Square 18115 Us Hwy 41 N 10,000 SF 100% Leased Office Building Lutz, FL 33549 $3,520,617 CAD ($352.06 CAD/SF) 6.52% Cap Rate

Pelwood Square presents an opportunity to acquire a fully leased, two-building suburban office complex in Lutz, Florida, just north of Tampa and minutes from Interstate 275 at the Bearss Avenue interchange. The property spans 10,000 square feet across two single-story buildings on 1.1 acres, featuring a brick exterior, attractive courtyard, and monument signage for strong visibility.
Constructed in 1987 and well maintained with a roof replacement in 2022, the property is 100% leased to seven tenants under modified gross leases, generating a pro forma NOI of $168,017 and a 6.52% cap rate. Current rents average $21.13 per SF, approximately 20% below market, providing significant upside for investors. The site offers ample parking with a ratio of 4.0/1,000 SF and zoning under PD-CN, supporting continued office use.
This asset benefits from its strategic location in a growing suburban corridor with convenient access to major highways, strong demographics, and proximity to Tampa’s employment base. Offered at $2,575,000 on an all-cash basis, Pelwood Square is positioned as a stable income-producing investment with value-add potential through rent adjustments.