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Property Photos
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  • MLS#: U8248063 ( Commercial Sale )
  • Street Address: 1454-1470 Alt 19 1454-1470
  • Viewed: 15
  • Price: $2,200,000
  • Price sqft: $309
  • Waterfront: No
  • Year Built: 2004
  • Bldg sqft: 7124
  • Days On Market: 184
  • Additional Information
  • Geolocation: 28.0814 / -82.7669
  • County: PINELLAS
  • City: PALM HARBOR
  • Zipcode: 34683
  • Subdivision: Palm Harbor Estates
  • Provided by: VIEWPOINT REALTY INT'L INC
  • Contact: Anthony Maccaroni
  • 727-584-7355
  • mfrmls
  • DMCA Notice
  • Description
    Owner Financing Available With Attractive Terms! Price Reduction. Take advantage of this rare opportunity to own a 6000sf (mol) retail stripcenter in the heart of one of Pinellas Countys most desirable communities, Palm Harbor. This popular stripcenter is located in the Downtown Palm Harbor district on busy hwy alternate 19, close to dozens of thriving businesses which includes restaurants, coffee shops, breweries, retail shops and much more. The Downtown Palm Harbor district is growing rapidly and will soon be the next downtown Dunedin. Barrier to entry into this market is high now and will only be more difficult in the near future. A high income demographic and dense local population with over 20,000 average vehicles per day provides strong support for any retail and/or office in the stripcenter. Capital expenditure includes over $75,000 for a new roof in November 2023, $25,000 for three new AC units in January 2024 and $8,000 for new gutters in June 2019. The property is pristine with excellent maintenance history. There is an HOA in place which manages the common areas, parking lot, trash removal and grounds. See HOA fees in offering memorandum. There is huge upside potential. Increasing the below market base rents and charging triple net fees (which only one of the current tenants pay) will significantly increase income. Increasing triple net fees alone will increase the revenue by almost $33,000 annually. Base rents can be increased accordingly. See proforma attached, with other associated financial, comp and related due diligence documentation. The second floor is currently unfinished. Investment into finishing the second floor of the stripcenter can increase the rentable square footage by approximately 3000 additional square feet. It is buyers sole responsibility to confirm with local authorities about regulations, requirements and ability to expand the rentable square footage on the second floor. X500 flood zone only requires minimum flood coverage.
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Features
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. Central Air
Country
  1. US
Covered Spaces
  1. 0.00
Flooring
  1. Laminate
  2. Vinyl
Garage Spaces
  1. 0.00
Heating
  1. Heat Pump
Legal Description
  1. PALM HARBOR ESTATES BLK 48
  2. PT OF LOTS 3
  3. 4
  4. 5 & 6 DESC FROM SW COR LOT 5 FOR POB TH N 250FT TH E 15.82FT TH S 42.37FT TH E 128.18FT TH S 165.27FT TH W 77.82FT TH S 42.37FT TH W 66.18FT TO POB (MAP N02-28-15)
Living Area
  1. 5750.00
Area Major
  1. 34683 - Palm Harbor
Net Operating Income
  1. 121993.00
Parcel Number
  1. 01-28-15-65628-048-0040
Parking Features
  1. Parking Spaces - 19 to 30
Property Condition
  1. Completed
Property Type
  1. Commercial Sale
Road Frontage Type
  1. City Street
  2. Highway
Roof
  1. Shingle
Sewer
  1. Public Sewer
Tax Year
  1. 2023
Township
  1. 28
Unit Number
  1. 1454-1470
Utilities
  1. Public
  2. Water Connected
Views
  1. 15
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/U8248063
Water Source
  1. Public
Year Built
  1. 2004
Zoning Code
  1. C-1