Palm Harbor Retail
For Sale
Contact for pricing
1454-1470 ALT 19 #1454-1470, Palm Harbor, FL 34683
Retail stripcenter in Palm Harbor's growing downtown district.
Property Size5,750 SF
Price / SF$291.67
Days on Market801
Property Features for 1454-1470 ALT 19 #1454-1470
General Information
Standard status
Active
Size
5,750 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$14,319
Building Details
Building Size
5,750 SF
Year Built
2004
Listing Agency:
VIEWPOINT REALTY INT'L INC
Listed By:
Anthony Maccaroni · License #3304442
(727) 641-0271
Source:
Thefullerproperties
Added: Jun 25, 2024
Changed: Sep 2
Last Checked: Sep 2 at 2:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of VIEWPOINT REALTY INT'L INC
Investment Insights
Based on property information with market context.
This 5750 square foot retail stripcenter is located in the heart of Palm Harbor, in the downtown district on Alternate 19. The location is close to restaurants, coffee shops, breweries, retail shops, and other businesses. The downtown Palm Harbor district is growing rapidly. The property benefits from a high-income demographic and a dense local population, with over 20,000 average vehicles passing the location each day. Capital improvements include a new roof installed in November 2023 at a cost of over $75,000, three new AC units installed in January 2024 at a cost of $25,000, and new gutters installed in June 2019 at a cost of $8,000. The property is well-maintained and has long-term, quality tenants in place. All leases are triple net leases. An HOA manages the common areas, parking lot, trash removal, and grounds. The second floor is currently unfinished, but finishing the second floor could potentially increase the rentable square footage by approximately 3000 additional square feet. The property is located in an X500 flood zone, which only requires minimum flood coverage. The property can be used for retail and office purposes.
Key Highlights
- Prime location in the rapidly growing Downtown Palm Harbor district on busy Hwy Alternate 19.
- High income demographic and dense local population with over 20,000 average vehicles per day.
- 6000sf (mol) retail strip center with potential to add approximately 3000sf of rentable space by finishing the second floor.**
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,905
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,100
$1.2M
Cap Rate 7%
$841,500
$841.5K
Cap Rate 9%
$654,500
$654.5K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.0K $15.00/SF
− Vacancy
−$5.9K −$0.98/SF
EGI
$84.2K $14.03/SF
− OpEx
−$25.2K −$4.21/SF
NOI
$58.9K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,100
Cap Rate 7%
$841,500
Cap Rate 9%
$654,500
Alternative Uses
Best Use
Retail
$841.5K
$736.3K – $981.8K
NOI $58,905 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,245 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
15,101 visits/mo
0.4 miles
Mobil
Shops & Services
6,191 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
1,981 visits/mo
0.2 miles
Demographics for 34683, FL
33,453
Population
15,686
Households
2.1
Avg Household Size
49
Median Age
43%
College-Educated
95%
High-School Grad
10.3 sq mi
ZIP Area
3,248
Density / Sq Mi
$90,037
Median Household Income
$53,330
Median Earnings
$1,655
Median Rent
$424,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail stripcenter in Palm Harbor's growing downtown district.
Where is this strip mall located?
The property is located at 1454-1470 ALT 19 #1454-1470 Palm Harbor, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime location in the rapidly growing Downtown Palm Harbor district on busy Hwy Alternate 19.; High income demographic and dense local population with over 20,000 average vehicles per day.; 6000sf (mol) retail strip center with potential to add approximately 3000sf of rentable space by finishing the second floor.**
