Aldi-Anchored Shopping
12975-12999 Park Boulevard, Seminole, FL 33776
For Sale
Contact for pricing
Two tenants occupy the center, with Aldi accounting for most of the building and a separate in-line suite completing the mix.
Property Size66,656 SF
Price / SF$144.38
Days on Market26
Property Features for 12975-12999 Park Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Site & Location
Anchor Co-Tenants
Traffic Count
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
Ripco Real Estate
Listed By:
Ari Ravi · License #SL- 3210827
(813) 921-5640
Source:
Crexi
Added: Oct 15
Changed: Nov 8
Last Checked: Nov 8 at 5:40PM
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 Ripco Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Park Place is a 66,656-square-foot shopping center occupied by two tenants. Aldi uses 93% of the building under a NNN lease that extends through October 2040 and includes a corporate guaranty. A 5,000-square-foot in-line suite is leased month to month, with no remaining options. Aldi funded a subdivision and renovation of its store and remains responsible for space it no longer occupies under its lease assignment from Winn-Dixie.
The center fronts Park Boulevard in Seminole, a retail thoroughfare carrying 53,000 vehicles per day. Within three miles, the trade area has 68,531 residents and an average household income of $129,366. The surrounding area is described as fully built out, with limited land available for new development.
The center fronts Park Boulevard in Seminole, a retail thoroughfare carrying 53,000 vehicles per day. Within three miles, the trade area has 68,531 residents and an average household income of $129,366. The surrounding area is described as fully built out, with limited land available for new development.
Key Highlights
- 66,656‑square‑foot shopping center with two tenants
- Aldi occupies 93% of the building under a NNN lease through October 2040, backed by a corporate guaranty
- 5,000‑square‑foot in‑line suite is leased month to month with no remaining options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$793,673
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,873,460
$15.9M
Cap Rate 7%
$11,338,186
$11.3M
Cap Rate 9%
$8,818,589
$8.8M
Market Conditions
NOI Build-Up for 66,656 SF
Gross rent
$1.20M $18.00/SF
− Vacancy
−$66.0K −$0.99/SF
EGI
$1.13M $17.01/SF
− OpEx
−$340.1K −$5.10/SF
NOI
$793.7K $11.91/SF
Area
Pinellas County, FL
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,873,460
Cap Rate 7%
$11,338,186
Cap Rate 9%
$8,818,589
Alternative Uses
Best Use
Specialty Retail
$12.66M
$11.08M – $14.77M
NOI $886,238 @ 7.0% cap · market cap 9.21%
Second Best
Retail
$11.34M
$9.92M – $13.23M
NOI $793,673 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$17.34M
$15.17M – $20.23M
NOI $1,213,643 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
53,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 42%
Dining 10%
Winn-Dixie
Groceries
19,364 visits/mo
0.1 miles
Mobil
Shops & Services
13,016 visits/mo
0.2 miles
Marathon Petroleum
Shops & Services
9,737 visits/mo
0.5 miles
Rita's Italian Ice
Dining
4,439 visits/mo
0.5 miles
Demographics for 33776, FL
12,922
Population
5,461
Households
2.4
Avg Household Size
51
Median Age
47%
College-Educated
97%
High-School Grad
3.4 sq mi
ZIP Area
3,801
Density / Sq Mi
$101,618
Median Household Income
$50,964
Median Earnings
$2,291
Median Rent
$436,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — Winn Dixie, 12975 Park Blvd, Seminole, FL 33776
- Portobello Square Shopping Center — 13055 Park Blvd, Seminole, FL 33776
Frequently Asked Questions
What type of property is this?
Shopping center - Two tenants occupy the center, with Aldi accounting for most of the building and a separate in-line suite completing the mix.
Where is this shopping center located?
The property is located at 12975-12999 Park Boulevard Seminole, FL.
What is the asking price?
The asking price for this property is $9,624,000.
What are key features of this property?
This property features: 66,656‑square‑foot shopping center with two tenants; Aldi occupies 93% of the building under a NNN lease through October 2040, backed by a corporate guaranty; 5,000‑square‑foot in‑line suite is leased month to month with no remaining options
