Homes for sale - 1454-1470 ALT 19 #1454-1470, Palm Harbor, FL 34683...

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Leslie Parra

leslieparrahomes@gmail.com +1(407) 710-7904

$ 2,200,000

Est. payment | -/mo

5,750 SqFt

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$ 2,200,000

Est. payment | -/mo

Save Virtual Tour

5,750 SqFt

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 5,750 sqft

Price per Sqft $382

Subdivision Palm Harbor Estates

MLS Listing ID U8248063

Condo Fees $3,190

HOA Y/N No

Originating Board Stellar MLS

Year Built 2004

Annual Tax Amount $14,319

Lot Size 0.630 Acres

Acres 0.63

Property 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 County’s 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 buyer’s 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.

Location

State FL

County Pinellas

Community Palm Harbor Estates

Zoning C-1

Interior

Heating Heat Pump

Cooling Central Air

Flooring Laminate, Vinyl

Exterior

Parking Features Parking Spaces - 19 to 30

Community Features Sidewalks

Utilities Available Public, Water Connected

Roof Type Shingle

Building

Story 1

Foundation Slab

Lot Size Range 1/2 to less than 1

Sewer Public Sewer

Water Public

Structure Type Block

New Construction false

Others

Ownership Corporation

Monthly Total Fees $531

Special Listing Condition None

Listed by VIEWPOINT REALTY INT'L INC

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(407) 710-7904

leslieparrahomes@gmail.com

1454-1470 ALT 19 #1454-1470 Palm Harbor, FL 34683