Fully Leased Largo Retail Center

Shopping Center for Sale
Catylist Listing ID: 30776762
Property Subtypes: Community Center, Strip Center
Building Size (RSF): 7,591 SF
Gross Building Area: 7,817 SF
Gross Land Area: 18,750 SF
Sale Price: $850,000
Unit Price: $111.97 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.94%
Average Occupancy Rate: 100
Last Updated: 1/12/2022

Overview / Comments

Excellent opportunity to purchase fully leased neighborhood retail center. This fully leased has excellent visibility on Seminole Blvd, with pylon signage, along with three points of ingress and egress to the center make it easily accessible from Seminole Blvd and 14th Ave SW. Tenants include Mercy House of Praise, Liberty Worship Center and a small Hair Salon The surrounding area is seeing an abundance of new growth, A new car wash and new oil change facility were recently built on the east side of Missouri Avenue. An older retail center at the northwest quadrant of Rosery Road and Missouri Avenue, which was mostly vacant, has been extensively renovated and is now occupied by LA
Fitness, TJ Maxx, Ross Dress for Less and Shoe Carnival. A WaWa’s convenience store with gas stations, and a Mattress Firm have been constructed adjacent to this center. The neighborhood has a large residential population base and is adequately supported by local commercial facilities and general employment centers. The area is well served by local utilities and governmental services. Recreational and social amenities, including schools and parks, are also abundant in the area. Property values have been increasing and this trend is expected to continue.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 15 30 03 22068 000 0811
Zoning: CG
Retail Clientele: General, Family, Business
Property Located Between: West Bay Drive and Ulmerton Rd
Property Visibility: Excellent
Largest Nearby Street: Seminole Blvd
Feet of Frontage: 150
Highway Access: West Bay Drive, Ulmerton Rd
Airports: Tampa International, St Pete Clearwater
Site Description: The subject has 22 parking spaces, which indicates a parking ratio of roughly 3 spaces per 1,000 sf of gross building area, which is adequate for this type of property. Dividing the land size of 18,750 sf by the building size of 7,591 sf indicates a land to building ratio of 2.47. Drive Way has just been resealed and striped..
Area Description: Residential/ retail in surrounding areas with scattered industrial throughout
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,591 SF
Property Condition: Good
Year Built: 1970
Roof Type: Mansard
Construction/Siding: Block
Exterior Description: Retail building with parking in front and on north side of building.
Parking Type: Surface
Parking Description: ample
Total Parking Spaces: 22
Interior Description: Building has been divided into three retail suites.
Zoning Description: CG
Easements Description: None
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,849 134,786 293,805
Median Age: 53.86 47.68 46.01
Households: 7,132 61,756 130,814


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