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
Sale Price: $1,000,000
Unit Price: $145.37 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.54%
Average Occupancy Rate: 100
Last Updated: 11/18/2020

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 and occupied by solid local businesses - both in home furnishings.
Current rents equate to $9 psf NNN - so there is definite room for upside growth in cash flow.
The property would also make sense for a user to occupy one building and collect rent from the other!

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $6,400 (Annual)
Gross Operating Income $86,568 (Annual)
Net Operating Income $75,368 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: City of Largo
Tax ID/APN: Two parcels: 15 29 33 74844 001 0110 and 15 29 33 74844 001 0120

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,861 120,834 264,468
Median Age: 47.31 48.24 46.21
Households: 8,416 56,368 119,238

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