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1401 Gulf Blvd
Indian Rocks Beach, FL 33785
Retail Property For Sale
Investment Highlights
- Fully leased, income-producing coastal retail asset.
- Rare direct Gulf Boulevard frontage in a high-barrier beach submarket.
- In-place cash flow grounded in actual collections, not projections.
- Embedded mark-to-market and NNN conversion upside.
Executive Summary
1401 Gulf Blvd is a fully leased, 7,933-square-foot, eight-unit multi-tenant retail and service strip center
positioned directly on Gulf Boulevard in Indian Rocks Beach — one of Pinellas County's most supply-
constrained coastal corridors. Offered at $1,399,000 ($176.35/SF), the Property is 100% occupied by a
diversified roster of local operators generating $189,401 in current scheduled annual rent.
Underwriting — actual trailing 12-month (August 2025 – July 2026) income less operating expenses (including
$11,000/year of insurance and $25,000/year of property taxes) and a 5% vacancy and credit loss factor —
produces net operating income of $67,435 and a 4.82% cap rate at the asking price (5.48% on an as-
collected, unadjusted basis reflecting the Property's actual full-occupancy performance). Applying the current
fully-leased rent roll against a stabilized expense load implies a 7.02% pro forma cap rate, with further upside
to 12.9%–13.2% under an NNN lease restructuring — underscoring meaningful embedded value beyond in-
place income.
positioned directly on Gulf Boulevard in Indian Rocks Beach — one of Pinellas County's most supply-
constrained coastal corridors. Offered at $1,399,000 ($176.35/SF), the Property is 100% occupied by a
diversified roster of local operators generating $189,401 in current scheduled annual rent.
Underwriting — actual trailing 12-month (August 2025 – July 2026) income less operating expenses (including
$11,000/year of insurance and $25,000/year of property taxes) and a 5% vacancy and credit loss factor —
produces net operating income of $67,435 and a 4.82% cap rate at the asking price (5.48% on an as-
collected, unadjusted basis reflecting the Property's actual full-occupancy performance). Applying the current
fully-leased rent roll against a stabilized expense load implies a 7.02% pro forma cap rate, with further upside
to 12.9%–13.2% under an NNN lease restructuring — underscoring meaningful embedded value beyond in-
place income.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
7,933 SF
Building Class
B
Year Built
1977
Price
$1,399,000
Price Per SF
$176.35
Cap Rate
4.82%
NOI
$67,435
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.45 AC
Zoning
B, Indian Rocks Bch
Parking
23 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 01-30-14-42030-029-0010 | Improvements Assessment | $425,018 |
| Land Assessment | $1,134,982 | Total Assessment | $1,560,000 |
Property Taxes
Parcel Number
01-30-14-42030-029-0010
Land Assessment
$1,134,982
Improvements Assessment
$425,018
Total Assessment
$1,560,000
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