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Palm Harbor Place 198 Alt 19 42,738 SF Retail Building Palm Harbor, FL 34683 For Sale
Investment Highlights
- Palm Harbor Place is comprised of a ±27,938 SF box space and six other smaller bays
- Roof replaced in 2018
- Vacancy rate of 5.7% in the Northern Pinellas market and 3.8% in the Tampa MSA driven by high local demand and limited available space
- The center is vacant, allowing a new property owner the ability to control the property’s composition and renovations
- Big box spaces very rarely become available, giving owners a unique opportunity to select an anchor tenant
- C-2 zoning (Pinellas County) provides a wide variety of potential uses, with higher intensity allowed than typical C-1 zoning
Executive Summary
RIPCO Real Estate is pleased to offer for sale Palm Harbor Place, a ±42,738 SF multi-tenant commercial property on the southeast corner of the signalized intersection
of Tampa Rd and US Alt 19 in Palm Harbor, FL. The plaza is comprised of a ±27,938 SF box space available for an anchor tenant, and six other smaller bays. The center is
vacant, giving the new owner the ability to control the property’s composition and renovations. Through executing a value-add leasing strategy, this asset has a stabilized
cash flow in excess of $750,000, providing strong upside for owners. Palm Harbor Place is located in a densely populated residential district, with a population of over
11,000 in a 1-mile radius and over 30,000 homes within a 3-mile radius. This stretch of US Alt 19 where the property is located has an AADT of 20,000.
The asset is an attractive opportunity for investors looking to acquire a value-add multi-tenant center, control the configuration of the lease up process to activate the
center, and own an asset in Pinellas County, the most densely populated county in Florida.
of Tampa Rd and US Alt 19 in Palm Harbor, FL. The plaza is comprised of a ±27,938 SF box space available for an anchor tenant, and six other smaller bays. The center is
vacant, giving the new owner the ability to control the property’s composition and renovations. Through executing a value-add leasing strategy, this asset has a stabilized
cash flow in excess of $750,000, providing strong upside for owners. Palm Harbor Place is located in a densely populated residential district, with a population of over
11,000 in a 1-mile radius and over 30,000 homes within a 3-mile radius. This stretch of US Alt 19 where the property is located has an AADT of 20,000.
The asset is an attractive opportunity for investors looking to acquire a value-add multi-tenant center, control the configuration of the lease up process to activate the
center, and own an asset in Pinellas County, the most densely populated county in Florida.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
42,738 SF
Building Class
B
Year Built
1989
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
4.19 AC
Zoning
C-2 - General Commercial and Services (Pinellas County)
Parking
200 Spaces (5.37 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 11-28-15-00000-130-0100 | Improvements Assessment | $3,462,239 |
| Land Assessment | $1,137,761 | Total Assessment | $4,600,000 |
Property Taxes
Parcel Number
11-28-15-00000-130-0100
Land Assessment
$1,137,761
Improvements Assessment
$3,462,239
Total Assessment
$4,600,000
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