1454-1470 ALT 19 UNIT 1454-1470 PALM HARBOR FL 34683 MLS #U8248063

1454-1470 ALT 19 UNIT 1454-1470
PALM HARBOR, FL, 34683
$2,200,000
Beds
0 Baths
7,124 SqFt
0.63 Acres
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Owner Financing Available With Attractive Terms! Price Reduction. Take advantage of this rare opportunity to own a 6000sf (mol) retail stripcenter in the heart of one of Pinellas County’s most desirable communities, Palm Harbor. This popular stripcenter is located in the Downtown Palm Harbor district on busy hwy alternate 19, close to dozens of thriving businesses which includes restaurants, coffee shops, breweries, retail shops and much more. The Downtown Palm Harbor district is growing rapidly and will soon be the next downtown Dunedin. Barrier to entry into this market is high now and will only be more difficult in the near future. A high income demographic and dense local population with over 20,000 average vehicles per day provides strong support for any retail and/or office in the stripcenter. Capital expenditure includes over $75,000 for a new roof in November 2023, $25,000 for three new AC units in January 2024 and $8,000 for new gutters in June 2019. The property is pristine with excellent maintenance history. There is an HOA in place which manages the common areas, parking lot, trash removal and grounds. See HOA fees in offering memorandum.

There is huge upside potential. Increasing the below market base rents and charging triple net fees (which only one of the current tenants pay) will significantly increase income. Increasing triple net fees alone will increase the revenue by almost $33,000 annually. Base rents can be increased accordingly. See proforma attached, with other associated financial, comp and related due diligence documentation.

The second floor is currently unfinished. Investment into finishing the second floor of the stripcenter can increase the rentable square footage by approximately 3000 additional square feet. It is buyer’s sole responsibility to confirm with local authorities about regulations, requirements and ability to expand the rentable square footage on the second floor. X500 flood zone only requires minimum flood coverage.

Property Details

Price:
$2,200,000
MLS #:
U8248063
Status:
Active
Beds:
0
Baths:
0
Address:
1454-1470 ALT 19 UNIT 1454-1470
Type:
Commercial
Subtype:
Retail
Subdivision:
PALM HARBOR ESTATES
Neighborhood:
34683 – Palm Harbor
City:
PALM HARBOR
Listed Date:
Jun 25, 2024
State:
FL
Finished Sq Ft:
7,124
Total Sq Ft:
7,124
ZIP:
34683
Lot Size:
27,273 sqft / 0.63 acres (approx)
Year Built:
2004
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Schools

Interior

Cooling
Central Air
Flooring
Laminate, Vinyl
Heating
Heat Pump

Exterior

Community Features
Sidewalks
Construction Materials
Block
Parking Features
19 to 30 Spaces
Roof
Shingle

Financial

Tax Year
2023
Taxes
$14,319

Map

Community

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1454-1470 ALT 19 UNIT 1454-1470
PALM HARBOR, FL