218 N Pinellas Ave
Tarpon Springs, FL 34689
Alexander The Great Apartments · Multifamily Property For Sale · 12 Units

Exclusive right of sale for 210-218 N Pinellas Ave. This investment offering includes an 11-unit multi-family building and adjacent duplex with shared parking. These properties are just blocks from downtown Tarpon Springs, retail shops, specialty boutiques, restaurants, entertainment venues, and outdoor recreational areas. 218 N Pinellas includes three 2 bed/1 bath units, seven 1 bed/1 bath units, one studio, and one management office suite. 210 N Pinellas is subdivided into three 1 bed/1 bath rental units. Investment Highlights - In-place cash flow equates to a 9.1% investor return and conservative and year 1 proforma cap rate of 10.1% - 5 minute walk to downtown shops, restaurants, entertainment - Historically high occupancy / currently 100% occupied - Located in Pinellas Trail Corridor District which provides a wide range of future re-development opportunities - Employment / demand drivers within 2 miles include Florida Hospital North Pinellas and St. Pete College Tarpon Springs Campus - Recently completed Walmart Supercenter 1 mile from property Located on the scenic Anclote River, the City of Tarpon Springs is a charming and vibrant community in the greater Tampa Bay area. Famous for its historic sponge industry and Greek heritage. The Tarpon Springs area features downtown retail shops, specialty boutiques, restaurants, numerous entertainment venues, world-famous sponge docks, and a trailhead for the 38.2 mile Pinellas Trail.