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    Charming Commercial Space in Safety Harbor Title is generated by Realmo AI

    123 2nd Avenue S, Safety Harbor, FL 34695

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    Character-rich commercial space in Safety Harbor's Main Street Marketplace District.

    Type:SCR-COM
    Property size:
    1,460 SF
    Added:
    Mar 31, 2026
    Days on Market:
    54
    Last Refresh:
    Apr 3 at 4:55 am

    Property Features for 123 2nd Avenue S

    General Information

    Standard status
    Active
    Size
    1,460 SF
    Property subtype
    SCR-COM

    Building Details

    Year Built
    1930

    Spaces For Lease

    at 123 2nd Avenue S Contact us

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Listing agent Elias Kirallah License #3123414

    Listing office J W Morton Real Estate, Inc.

    Listing date Mar 31, 2026

    Source Realnex

    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 J W Morton Real Estate, Inc.

    HighLights

    • Prime location in Safety Harbor's Main Street Marketplace District
    • Versatile +/-1,460 SF space suitable for various business types
    • Character‑rich building (built in 1930) with a functional layout
    • Located in the Community Redevelopment District with MSM zoning
    • High visibility and pedestrian traffic near established businesses
    • Recent capital improvements: New HVAC system (January 2026) and roof replaced in 2013

    Overview

    This is a rare opportunity to establish a presence in Safety Harbor's Main Street Marketplace District. Available for lease is approximately 1,460 square feet of commercial space within a single-story stucco building dating back to the 1930s. The space features a versatile multi-room layout suited for professional office, boutique retail, personal services, wellness, or creative studio use. The floor plan allows for a range of business configurations and includes a welcoming lobby or reception area, central open workspace, multiple private rooms or offices, a full bathroom, and a dedicated utility area. Recent capital improvements include a new HVAC system installed in January 2026 and a roof replaced in 2013. On-site and street parking are available, and the property is located within the City of Safety Harbor's Community Redevelopment District, where MSM zoning supports a variety of commercial uses. The location offers visibility and pedestrian activity just off Main Street. The property sits directly behind the Safety Harbor Chamber of Commerce and across from Starbucks. Surrounding businesses create a commercial environment, with nearby operators including Bar Fly Saltwater Grill, The Brinehouse, Cafe Vino Tinto, Sips Wine Bar, Bassano Cheesecake, and Athens Family Restaurant. The Safety Harbor Resort & Spa is steps away. This is a chance to lease commercial space in the heart of downtown Safety Harbor, in a walk-in-traffic location with limited available inventory of this character, size, and setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Safety Harbor Galleria Clothing & Fashion Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Safety Harbor
    County
    Pinellas
    State
    Florida
    Longitude
    -82.689487
    Latitude
    27.99039

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    FAQs

    What type of property is this?
    Retail space - Character-rich commercial space in Safety Harbor's Main Street Marketplace District.
    Where is this retail space located?
    The property is located at 123 2nd Avenue S Safety Harbor, FL.
    What are key features of this property?
    This property features: Prime location in Safety Harbor's Main Street Marketplace District; Versatile +/-1,460 SF space suitable for various business types; Character‑rich building (built in 1930) with a functional layout
    (352) 726-6668
    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
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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.

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