Cash Flow Investment Property / Lease space

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30297858
Property Subtypes: Free-Standing Building, Street Retail
Status: Pending/Contingent
Building Size (RSF): 30,000 SF
Gross Land Area: 2 Acres
Sale Price: $4,600,000
Unit Price: $153.33 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.8%
Average Occupancy Rate: 100
Last Updated: 9/6/2021

Overview / Comments

This property is offered for sale and lease. Available retail lease space options are 7,500 SF. Lease rate is $15 PSF Annual NN plus +/- $4 PSF Cam charges.

This commercial opportunity is perfect for an investor to generate a high cap rate return through re-tenanting the buildings or an owner occupant that wants to use the occupy some of the space while collecting rent on the remainder.

The property consists of 2 acres, with two retail buildings directly on US Hwy.19, currently configured for three tenants, plus a 10,000 SF warehouse structure fronting on Congress St.
Tampa Bay Millworks occupies the warehouse and a 5,000 SF showroom.
Two 7,500 SF retail suites (currently vacant) are ideal for home furnishings retail, or similar big-ticket retail sales.
This location is within a trade market with some of the best retail demographics in the Tampa Bay Metro.
Great visibility.
Great signage.
Adjacent to Home Depot-anchored retail center.
Traffic counts of 80,000 vehicles per day, on average!

View all our commercial listings at www.CBCommercialTampaBay.com!

Attachments & Media

Financials

Finance Data Year 2021
Net Operating Income $365,000 (Annual)
Actual or Proforma Year Proforma

Current Tenants

Tenant Business Name Tampa Bay Millworks

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: City of Dunedin
Tax ID/APN: 182816000003401300 and 182816000003401310
Zoning: GB - GENERAL BUSINESS
Retail Clientele: General
Property Located Between: Curlew Rd. and SR 580
Property Visibility: Excellent
Largest Nearby Street: US Hwy 19
Feet of Frontage: 300
Traffic/Vehicle Count: 80,000
Highway Access: Directly on US Hwy 19
Site Description: Fully improved home furnishings-related retail center.
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Excellent
Year Built: 2003
Year Renovated: 2015
Roof Type: Gable
Construction/Siding: Steel Frame, Vinyl Siding
Total Parking Spaces: 50
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: High-quality retail space. Three suites in front two buildings, plus a showroom with production space in the back building.
Zoning Description: The City of Dunedin General Business (GB) zoning permits a broad variety of retail and commercial activities, specifically including the outdoor display of product (which is something that the County zoning will not permit).
Lot Frontage: 300
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal, Storm
Easements: Other
Easements Description: FDOT drainage easement.
Land Ownership: Owned.
Legal Description: Lengthy. Two parcels. See attached survey.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,995 118,959 223,292
Median Age: 49.65 50.58 48.19
Households: 7,300 56,344 101,830

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