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103 Indian Rocks Rd S 14,490 SF Retail Building Belleair Bluffs, FL 33770 $8,200,000 ($565.91/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Located 5 minutes from Belleair Beach, directly next door to a Publix grocery store
- Absolute NNN leased to Walgreens - No Landlord Responsibilities
- Located at an "A" location, at a signalized intersection with combined AADT of 28,500 cars per day
- 2003 Build-to-Suit
- Corporate Guaranty, Tenant since 2003
- 78,029 Residents, $99,658 Avg HH Income within 3 miles
EXECUTIVE SUMMARY
RIPCO Real Estate is pleased to offer for sale 103 Indian Rocks Rd. South, an absolute NNN 14,490 SF single-tenant pharmacy currently occupied by a national retailer, Walgreens, in Belleair Bluffs, Florida.
The asset is located at a signalized intersection at West Bay Drive and Indian Rocks Road less than 5 minutes to Belleair Beach, on of Pinellas County's most exclusive neighborhoods. More than 31,500 vehicles pass this location daily (AADT), with an average household income of $99,658 within a 3-mile radius of the property.
Walgreens has been at the site for twenty (20) years and currently has 4 years of term left with single cancellation options starting on 8/31/2028 that renew every 5 years. The property offers an investor the opportunity to acquire a fully occupied property with stable cash flow and zero landlord responsibilities.
The asset is located at a signalized intersection at West Bay Drive and Indian Rocks Road less than 5 minutes to Belleair Beach, on of Pinellas County's most exclusive neighborhoods. More than 31,500 vehicles pass this location daily (AADT), with an average household income of $99,658 within a 3-mile radius of the property.
Walgreens has been at the site for twenty (20) years and currently has 4 years of term left with single cancellation options starting on 8/31/2028 that renew every 5 years. The property offers an investor the opportunity to acquire a fully occupied property with stable cash flow and zero landlord responsibilities.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2003
Price
$8,200,000
Price Per SF
$565.91
Cap Rate
6%
NOI
$492,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.68 AC
Zoning
CG - General Commercial
AMENITIES
- Signage
- Air Conditioning
Walk Score®
Very Walkable (72)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,778,438 | |
| Land Assessment | $1,136,562 | Total Assessment | $2,915,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,136,562
Improvements Assessment
$1,778,438
Total Assessment
$2,915,000
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103 Indian Rocks Rd S
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