5,750 SqFt
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
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
Garage Parking Spaces - 19 to 30
Community Features Sidewalks
Utilities Available Public, Water Connected
Waterfront false
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
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