Unique Value Add Owner/Investor - Investment Opportunity

Retail-Commercial for Sale
Unique Value Add Owner/Investor - Investment Opportunity
Catylist Listing ID: 30762215
Property Subtypes: Mixed Use
Building Size (RSF): 8,607 SF
Gross Land Area: 20,812 SF
Sale Price: See Agent
Property Use Type: Investment
Building Name: Indian Rocks Plaza
Usable Size (USF): 8,607 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/27/2021

Overview / Comments

This is a unique small mixed use complex with a 2,094 SF Retail / Office building currently occupied by the Seller , 5 small Retail units totaling 2,884 SF, currently fully occupied by long term tenants at below market lease rates, and 10 storage units, totaling 3,629 SF, also at below market lease rates. Current owner occupies the Retail/ Office building and 4 of the storage units and there is some potential for a short term sale leaseback of these spaces at market rents. There is significant "value add" potential since all the leases are either month to month or have very short remaining lease terms and there is a steady demand for the storage units and retail spaces. This is ideal for someone who wants to occupy the larger Retail/ Office building and collect the rent from the small retail and storage units. Bill board on site goes with the sale.

Flier is provided for Overview.. A more detailed OM and access to a Due Diligence file is available upon execution of a Non Disclosure agreement.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: Largp
Tax ID/APN: 15 30 18 00000 220 0100
Retail Clientele: General
Property Located Between: Fronting Walsingham Rd. Just East of the Walsingham Bridge leading to Indian Rocks Beach
Property Visibility: Excellent
Largest Nearby Street: Walsingham Rd.
Feet of Frontage: 121
Highway Access: On Walsingham Rd.
Area Description: Strone mix of Retail, Office, and residential
Total Number of Buildings: 3
Property Condition: Good
Construction/Siding: Block
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Lot Frontage: 121
Lot Depth: 172
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,155 70,066 162,729
Median Age: 54.87 48.56 50.08
Households: 4,719 31,527 76,144

Contact

Photograph of Listing Agent

Anthony P. Marzulli, CCIM, SIOR

Colliers International Tampa Bay Florida CE-FL Member
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