Palm Harbor Retail
1454-1470 ALT 19 #1454-1470 Palm Harbor, FL 34683
1454-1470 ALT 19 #1454-1470, Palm Harbor, FL, 34683
$1,750,000
For Sale
$1,750,000
Retail stripcenter in Palm Harbor's growing downtown district.
Property Size5,750 SF
Lot Size0.63 Acres
Price / SF$304.35
Days on Market755
Property Features for 1454-1470 ALT 19 #1454-1470
General Information
- Standard status
- Active
- Size
- 5,750 SF
- Lot size
- 0.63 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2004
Listing Agency
VIEWPOINT REALTY INT'L INC
(727) 584-7355
Listed by
ANTHONY MACCARONI · License #3304442
Source
Corcoran
Added: Jun 25, 2024 Checked: Jul 19 at 4:44 am
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.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.3k | $15.00 |
| − Vacancy | −$5.6k | −$0.98 |
| EGI | $80.6k | $14.03 |
| − OpEx | −$24.2k | −$4.21 |
| NOI | $56.5k | $9.82 |
5,750 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$806.4K
$705.6K – $940.9K
NOI $56,451 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,693 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
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.**
