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    1454-1470 Alt 19, Unit 1454-1470 Palm Harbor, FL 34683

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    For Sale
    $1,825,000

    Retail stripcenter in Palm Harbor's growing downtown district.

    Property size:
    5,750 SF
    Lot size:
    0.63 Acres

    Property Features for 1454-1470 Alt 19

    General Information

    Standard status
    Active
    Size
    5,750 SF
    Lot size
    0.63 Acres

    Building Details

    Year built
    2004

    We can help!

    Listing Contact
    Anthony Maccaroni
    Anthony Maccaroni
    Source: Corcoran

    Listing Agency: VIEWPOINT REALTY INTERNATIONAL Listing Agent: Anthony Maccaroni

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Palm Harbor Retail Stripcenter

    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.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Harbor
    County
    Pinellas
    State
    Florida
    Longitude
    -82.767042
    Latitude
    28.081223

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    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, Unit 1454-1470 Palm Harbor, FL.
    What is the asking price?
    The asking price for this property is $1,825,000.
    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.**
    (727) 641-0271
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    1454-1470 Alt 19, Unit 1454-1470 Palm Harbor, FL 34683
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    Palm Harbor, FL 34683
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1454-1470 Alt 19, Unit 1454-1470 Palm Harbor, FL 34683
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    We can help!
    Listing Contact
    Anthony Maccaroni
    Anthony Maccaroni
    Real Estate License ID: 3304442
    (727) 641-0271 (727) 584-7355
    Learn more
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