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1454-1470 ALT 19 UNIT 1454-1470

Commercial For Sale
$2,200,000

BTC: 23.19753811

ETH: 654.76190476

-$250K (2024/07/18)
180 days
0 room(s)
5,750 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

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

Facts and features

Type:
Commercial Sale
Parking:
19 to 30 Spaces
Year Built:
2004
Lot:
0.63 Acres
Heating:
Heat Pump
Price/sqft:
$383
Cooling:
Central Air
HOA:
No Data
All facts and features
  • Flooring

    • Laminate

    • Vinyl

    Heating

    • Heat Pump

    Cooling

    • Central Air

  • Parking

    • 19 to 30 Spaces

    Lot

    • Lot: 0.63 Acres

    Other Property Information

    • Parcel Number: 012815656280480040

    • Zoning: C-1

  • Type and style

    • Property Type: Commercial Sale

    • Property Sub Type: Retail

  • Utility

    • Public

    • Water Connected

  • Other financial information

    • Annual tax amount: $14,319

  • Source details

    • MLS ID: U8248063

    Other facts

    • Construction Materials: Block

    • Foundation Details: Slab

    • Living Area: 5750

    • Water Source: Public

    • Subdivision Name: PALM HARBOR ESTATES

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: VIEWPOINT REALTY INT'L INC