1450-1470 Palm Harbor Blvd - Retail FOR SALE


Palm Harbor, FL 34683
$1,999,995 USD
727-584-7355
1450-1470 Palm Harbor Blvd, Palm Harbor, FL for Sale
$1,999,995 USD
Retail - FOR SALE
1/19
null | 6.05% Cap Rate

1450-1470 Palm Harbor Blvd
Palm Harbor, FL 34683


HIGHLIGHTS

  • Over 250 Feet Of Frontage On Busy Hwy Alt. 19
  • Located In The Heart Of Palm Harbor, Walking Distance To Downtown Palm Harbor
  • Several Supporting Businesses Including Restaurants, Shops, Service And More
  • Palm Harbor Is A Rapidly Growing Community With A High Income Demographic
  • Large Parking Lot
  • Large Street Sign

OVERVIEW

Owner Financing With Attractive Terms! Seller Motivated! Bring Offers. Take advantage of this rare opportunity to own a 6000sf (mol) retail stripcenter in the heart of one of Pinellas County’s most desirable communities, Palm Harbor. This popular stripcenter is located in the Downtown Palm Harbor district on busy hwy alternate 19, close to dozens of thriving businesses which includes restaurants, coffee shops, breweries, retail shops and much more. The Downtown Palm Harbor district is growing rapidly and will soon be the next downtown Dunedin. Barrier to entry into this market is high now and will only be more difficult in the near future. A high income demographic and dense local population with over 20,000 average vehicles per day provides strong support for any retail and/or office in the stripcenter. Capital expenditure includes over $75,000 for a new roof in November 2023, $25,000 for three new AC units in January 2024 and $8,000 for new gutters in June 2019. The property is pristine with excellent maintenance history. There is an HOA in place which manages the common areas, parking lot, trash removal and grounds. See HOA fees in offering memorandum. There is huge upside potential. Increasing the below market base rents and charging triple net fees (which only one of the current tenants pay) will significantly increase income. Increasing triple net fees alone will increase the revenue by almost $33,000 annually. Base rents can be increased accordingly. See proforma below. The second floor is currently unfinished. Investment into finishing the second floor of the stripcenter can increase the rentable square footage by approximately 3000 additional square feet. It is buyer’s sole responsibility to confirm with local authorities about regulations, requirements and ability to expand the rentable square footage on the second floor.

FOR SALE DETAILS

PRICE

$1,999,995 USD

PRICE/SF

$348 USD /SF

CAP RATE

6.05%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palm Harbor Stripmall With Excellent Frontage

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,273 SF

ZONING

C-1

APN/PARCEL ID

01-28-15-65628-048-0040

ASK ABOUT THIS PROPERTY

Georgette GillisViewpoint Realty InternationalMore Info
727-584-7355

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Georgette GillisViewpoint Realty InternationalMore Info
727-584-7355

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.