This Retail Property is Off-Market.

11201 Park Boulevard North
Seminole, FL 33772 ·

760,000 SF · Retail For Sale



Seminole Mall Redevelopment Project

Price N/A Cap Rate 8%
Gross Leasable Area 760,000 SF Occupancy 80%
Property Type Retail Tenancy Multiple
Property Sub-type Power Center Lot Size 36 AC
Property Use Type Investment
Listing ID: 16509292 Date Created: 12/18/2009 Last Updated: 12/21/2009


This is an opportunity to invest $5.5 Million into the re-development of, what is currently a 440,000 sq ft center to a 760,000 sq ft power center, earning a potential profit of $13.79 Million and 75% ownership of the asset. We have the financing for the expansion and we have the principal of the property, with his extensive background in developing shopping centers, as an excellent partner in this project. He will remain as a 25% partner having a $2 million investment. There is a new $40 million mortgage with a major insurance company that can be available to us to handle the expansion.
Big Box Retailers such as Costco are expected to be tenants, as well as an 18 screen movie theatre.
The latest figures point out that the Mall, being sold after the three year redevelopment period at a 7.5% cap rate and the newly achieved NOI of $5.67 Million, would be worth $65.5 Million ($5.67 Million /.075). The cash on cash would be 250% ($13.79 / $5.5 Million x 100) which equates, during the 3 year development, to 83% per year (250% / 3 yrs) resulting in an estimated profit of $13.79 Million on your $5.5 Million investment.

Seminole, FL is one of the best retail area's in the state of Florida. There is approximately 36 acres of land with outstanding retail activities and tremendous demographics that can produce retail sales reflecting in a NOI of approximately $6 Million Dollars. Finance of the expansion has been lined up and detailing information can be supplied to you.


11201 Park Boulevard North, Seminole, FL 33772 (Pinellas County)

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