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10289 Ulmerton Rd 16,000 SF 100% Leased Retail Building Largo, FL 33771 $9,091,000 ($568.19/SF) 5.85% Cap Rate
Investment Highlights
- Total Land Size: 81,101 SF (1.86 AC)
- 100% occupied NNN Retail Center
- High-traffic corridor: 69,500 VPD
- Building Size: 16,000 SF
- 2027 NOI of $531,849.
- 83 Parking Spaces
Executive Summary
10289 Ulmerton Road is a premier 100% occupied NNN retail center in the Tampa Bay MSA, offered at $9,091,000 (5.85% cap rate) with a projected 2027 NOI of $531,849.
The property features three recession-resistant national brands, including Mattress Firm, which has operated at this site for 23 years and recently signed a 5-year extension with a 42% rent increase. This demonstrates a powerful long-term commitment to a location already surrounded by elite national anchors like Target, Home Depot, and Publix.
The roster, including two publicly traded entities, benefits from staggered lease expirations through 2033 and rent bumps built in. Positioned on a high-traffic corridor (69,500 VPD), this asset combines secure, immediate cash flow with exceptional real estate fundamentals in one of Tampa Bay’s most active commercial hubs.
The property features three recession-resistant national brands, including Mattress Firm, which has operated at this site for 23 years and recently signed a 5-year extension with a 42% rent increase. This demonstrates a powerful long-term commitment to a location already surrounded by elite national anchors like Target, Home Depot, and Publix.
The roster, including two publicly traded entities, benefits from staggered lease expirations through 2033 and rent bumps built in. Positioned on a high-traffic corridor (69,500 VPD), this asset combines secure, immediate cash flow with exceptional real estate fundamentals in one of Tampa Bay’s most active commercial hubs.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,000 SF
Building Class
B
Year Built
1991
Price
$9,091,000
Price Per SF
$568.19
Cap Rate
5.85%
NOI
$531,849
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.87 AC
Opportunity Zone
Yes
Zoning
CP - Unincorporated Pinellas
Parking
83 Spaces (5.19 Spaces per 1,000 SF Leased)
Frontage
265’ on Ulmerton Rd
Amenities
- 24 Hour Access
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-30-15-00000-440-0500 | Improvements Assessment | $1,824,728 |
| Land Assessment | $2,250,272 | Total Assessment | $4,075,000 |
Property Taxes
Parcel Number
03-30-15-00000-440-0500
Land Assessment
$2,250,272
Improvements Assessment
$1,824,728
Total Assessment
$4,075,000
(727) 823-1230
x233
Contacts
-
Michael Heretick -
Montana Massa -
Sarah Toms -
Vector Commercial Real Estate Services, LLC
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10289 Ulmerton Rd
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