Grocery-Anchored Shopping
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For Sale
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12999 Park Blvd, Seminole, FL 33776
A month-to-month inline suite gives the landlord control over future leasing alongside the established grocery anchor.
Property Size66,656 SF
Price / SF$144.38
Days on Market4
Property Features for 12999 Park Blvd
General Information
Standard status
Active
Size
66,656 SF
Property subtype
RETAIL
Site & Location
Anchor Co-Tenants
Aldi
Traffic Count
53,000 vehicles/day
Building Details
Tenancy
Multi
Listing Agency:
RIPCO Real Estate | Tampa
(813) 320-0050
Listed By:
Ari Ravi · License #SL-3210827
(813) 921-5640
Source:
Moodyscre
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 23 at 10:33AM
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 | Tampa
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Investment Insights
Based on property information with market context.
This 66,656-square-foot shopping center is anchored by Aldi, which has nearly 14 years remaining on its lease following an early extension. Aldi is responsible for its own roof and exterior under a NNN structure, and a corporate guaranty from Aldi, Inc. backs 90% of the center’s rent. The anchor also funded an approximately $2 million store renovation and subdivision after taking an assignment from Winn-Dixie.
The 5,000-square-foot inline suite is leased month-to-month with no options remaining. Its current rent is 26% below market, and the short-term arrangement leaves the landlord able to pursue a new lease or tenant. The center fronts Park Boulevard, where 53,000 vehicles pass daily. Average household income within one mile is $152,628.
The 5,000-square-foot inline suite is leased month-to-month with no options remaining. Its current rent is 26% below market, and the short-term arrangement leaves the landlord able to pursue a new lease or tenant. The center fronts Park Boulevard, where 53,000 vehicles pass daily. Average household income within one mile is $152,628.
Key Highlights
- Aldi has nearly 14 years of lease term remaining after an early extension
- Aldi, Inc. corporate guaranty covers 90% of center rent
- 5,000‑square‑foot inline suite is month‑to‑month with no options remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$654,395
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,087,900
$13.1M
Cap Rate 7%
$9,348,500
$9.3M
Cap Rate 9%
$7,271,056
$7.3M
Market Conditions
NOI Build-Up for 66,656 SF
Gross rent
$999.8K $15.00/SF
− Vacancy
−$65.0K −$0.98/SF
EGI
$934.9K $14.03/SF
− OpEx
−$280.5K −$4.21/SF
NOI
$654.4K $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 Rate 5%
$13,087,900
Cap Rate 7%
$9,348,500
Cap Rate 9%
$7,271,056
Alternative Uses
Best Use
Retail
$9.35M
$8.18M – $10.91M
NOI $654,395 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Open Analytics
Current Use
Lease Details
53,000 VPD
Traffic count
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - A month-to-month inline suite gives the landlord control over future leasing alongside the established grocery anchor.
Where is this shopping center located?
The property is located at 12999 Park Blvd 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: Aldi has nearly 14 years of lease term remaining after an early extension; Aldi, Inc. corporate guaranty covers 90% of center rent; 5,000‑square‑foot inline suite is month‑to‑month with no options remaining
