Catylist ID: #30655034
West Bay Drive Investment Property
Retail-Commercial for Sale
|Catylist Listing ID:||30655034|
|Property Subtypes:||Free-Standing Building, Street Retail|
|Building Size (RSF):||6,879 SF|
|Gross Building Area:||7,393 SF|
|Gross Land Area:||11,118 SF|
|Unit Price:||$145.37 PSF|
|In Opportunity Zone?||Yes|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
This offering is a very well located two-building investment opportunity.
Next door to Walgreen's (with cross-access) and directly across from a Publix-anchored shopping center, this is a great place to do business!
Both buildings are in good repair.
904 W Bay has 4,195 gross SF (3,807 AC'd SF) and is leased to a home furnishings retailer (contact listing agent for lease details).
910 W Bay has 3,198 gross SF (672 SF in 2nd floor storage space and a total of 3,072 AC'd SF). This building was just (3rd Q 2021) leased to a convenience store / smoke shop on a 5-year term.
Room for upside growth in cash flow.
Property would make sense for an investor or a user to occupy one building and collect rent from the other!
|Finance Data Year||2021|
|Real Estate Taxes - Annual($)||$9,946 (Annual)|
|Gross Operating Income||$92,568 (Annual)|
|Net Operating Income||$76,022 (Annual)|
|Actual or Proforma Year||Actual|
|Nearest MSA:||Tampa-St. Petersburg-Clearwater|
|Taxing Authority:||City of Largo|
|Tax ID/APN:||Two parcels: 15 29 33 74844 001 0110 and 15 29 33 74844 001 0120|
|Zoning:||WEST BAY DRIVE COMMUNITY REDEVELOPMENT DISTRICT (WBD-CRD)|
|Feet of Frontage:||106|
|Site Description:||Fully improved street retail property. Parcel is entirely buildings and paved areas for drives and parking.|
|Area Description:||Suburban location on a major E/W commuter route. West Bay Dr. extends to the Belleair Causeway which is a primary access point for the Pinellas County beach communities of Belleair Beach and Indian Rocks Beach. Amidst a mix of national and local retailers.|
|Total Number of Buildings:||2|
|Number of Stories:||1|
|Exterior Description:||Storefront windows, driveway and parking between the buildings.|
|Total Parking Spaces:||13|
|Parking Description:||13 spaces on-site, plus public lot with 9 spaces just west of the property. Site connects via an open paved alley with the Walgreen's parking lot to the east.|
|Air Conditioning:||Package Unit|
|Interior Description:||904 is a typical home furnishing retail interior. 910 is being transformed into a convenience store / smoke shop with appeal to twenty-somethings. Bright colors inside and out, lots of neon, etc.|
|Zoning Description:||Within the West Bay Drive Redevelopment District.|
|Legal Description:||RIDGE CREST SUB BLK 1, LOTS 11 and 12.|
|Proximity:||1 mile||3 miles||5 miles|
John A. SkicewiczColdwell Banker Commercial NRT CE-FL Member
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