1943 N Pinellas Ave - Storefront FOR SALE


Tarpon Springs, FL 34689
$8,000,000 USD
727-452-6864
1943 N Pinellas Ave, Tarpon Springs, FL for Sale
$8,000,000 USD
Storefront - FOR SALE
1/5
null | 7.09% Cap Rate

1943 N Pinellas Ave
Tarpon Springs, FL 34689


HIGHLIGHTS

  • The property is currently leased to 13 tenants with one vacancy. Of the 13 tenants, 12 are on NNN leases, providing stable cash flow for this center
  • Four of the tenants are national tenants, including Dollar General, MetroPCS, Subway, and Pizza Hut
  • A 1,200 SF vacancy and over 5,700 SF of expiring leases by 2026 offers potential buyers an opportunity to increase profitability of the center
  • Dollar General (24 years), Pizza Hut (32 years), Subway, Metro PCS, Q-Nails and Metro Treatment have been tenants for 10+ years
  • Discount-oriented tenants compliment the surrounding demographics
  • The property is located less than 1-mile from US-19, the primary north-side thoroughfare in Pinellas County—the densest county in Florida

OVERVIEW

RIPCO Real Estate is pleased to offer for sale Anclote Plaza, a 57,320 SF commercial property located on the southwest corner of Anclote Boulevard and N Pinellas Avenue (US-19 ALT) in Tarpon Springs, FL. The property is currently leased to 13 tenants with one vacancy. Of the 13 tenants, 12 are on NNN leases, providing stable cash flow for this center. Four of the tenants are national tenants, including Dollar General, MetroPCS, Subway, and Pizza Hut. With a 1,200 SF vacancy and over 5,700 SF of leases expiring with no options before the end of 2026, the potential buyers have the ability to sign new leases at market rents, increasing profitability of the center. This intersection of Anclote Boulevard and N Pinellas Avenue (US-19 ALT) where the property is located has a combined AADT of 20,400. Within 1 mile of Anclote Plaza, there is a population of 9,525 and an average household income of $73,946. The asset would be an attractive investment opportunity for investors looking for stable cash flow with near 100% occupancy, a value-add opportunity by rolling over leases in the short term to market rents, and an asset located in a state with no state income tax.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$137 USD /SF

CAP RATE

7.09%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Anclote Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

184

LAND DETAILS

LAND ACRES

5.84 AC

LAND SF

254,390 SF

ZONING

HB

APN/PARCEL ID

01-27-15-00950-001-0030

ASK ABOUT THIS PROPERTY

Ari RaviRipco Real EstateMore Info
727-452-6864

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Ari RaviRipco Real EstateMore Info
727-452-6864

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