660 Alderman Rd 3,495 SF Retail Building Palm Harbor, FL 34683 $1,200,000 ($343.35/SF) 6.75% Cap Rate

660 Alderman Road offers a compelling investment opportunity in the heart of Palm Harbor, combining near-term income with long-term redevelopment flexibility. The property can be held as a stabilized investment, repositioned in the future, or redeveloped immediately, depending on an investor’s strategy.
The site consists of a 3,528 square foot commercial building situated on a 23,958 square foot parcel and is currently occupied by a long-standing tenant under a NNN lease that has been in place since 2008. The lease runs through October 2026 and generates $80,915.88 in annual base rent, offering minimal landlord responsibilities and predictable cash flow. The tenant has expressed interest in extending the lease, providing an opportunity for a buyer to further stabilize the asset and secure long-term income if redevelopment is not part of the immediate plan.
Zoned C-2, the property allows for a wide range of commercial uses and is well positioned for future redevelopment as the surrounding Palm Harbor market continues to strengthen. The property benefits from strong visibility along Alderman Road, convenient access, ample on-site parking, and a well-maintained building, making it attractive for both current operations and future redevelopment plans.
This is a rare opportunity to acquire a flexible commercial asset in a desirable Pinellas County submarket with multiple paths to value creation. Owner is a Licensed Florida Real Estate Broker. Contact the listing team for additional financial information and to schedule a private showing.