Belleair Bluffs Retail Investment Opportunity

Shopping Center for Sale
Catylist Listing ID: 30796243
Property Subtypes: Neighborhood Center
Building Size (RSF): 3,804 SF
Gross Building Area: 4,040 SF
Sale Price: $750,000
Unit Price: $197.16 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/9/2022

Overview / Comments

This is a 3-unit retail building in the Belleair Bluffs community.
Stable tenants with leases in place at below-market rates.
New roof in 2020, three HVAC systems replaced in 2021, property is in very good repair.
Paved surface parking in front and back.
500 SF garage structure in back is leased to retail tenants for storage.

This property is in one of the most desirable trade markets in the Tampa Bay metro.
Upside on rents and growth in the Belleair market make this a very stable long-term investment opportunity.

Current NOI will not support the offering price - but the location and condition make this an excellent buy and hold investment.

Financials

Finance Data Year 2022
Net Operating Income $42,862 (Annual)
Gross Operating Income $55,392 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: City of Belleair Bluffs
Tax ID/APN: 15 29 32 95850 002 0010
Zoning: ROR

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,319 96,859 231,269
Median Age: 51.47 48.64 46.95
Households: 4,580 45,772 104,515

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