Walgreens Retail
For Sale
Contact for pricing
35553 US Hwy 19 N, Palm Harbor, FL 34683
Established pharmacy and retail building with a substantial commercial footprint along US Hwy 19 N.
Property Size15,432 SF
Price / SF$307.20
Days on Market118
Property Features for 35553 US Hwy 19 N
General Information
Standard status
Active
Size
15,432 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Value Add
Net Operating Income
$320,000
Building Details
Year Built
2004
Tenancy
Single
Listing Agency:
Matthews
(239) 994-9643
Listed By:
Daniel Gonzalez · License #SL3463209 (FL)
Source:
Crexi
Added: May 6
Changed: Aug 29
Last Checked: Aug 29 at 5:44PM
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 Matthews
Investment Insights
Based on property information with market context.
This Walgreens retail property comprises 15,432 square feet and was constructed in 2004. The asset is associated with a nationally recognized pharmacy and retail healthcare brand, providing a clearly identified commercial use within the retail sector.
The property is located at 35553 US Hwy 19 N in Palm Harbor, Florida. Its position on US Hwy 19 N places the building along a designated U.S. highway corridor, while the existing pharmacy and retail identity offers a straightforward profile for commercial real estate evaluation.
The property is located at 35553 US Hwy 19 N in Palm Harbor, Florida. Its position on US Hwy 19 N places the building along a designated U.S. highway corridor, while the existing pharmacy and retail identity offers a straightforward profile for commercial real estate evaluation.
Key Highlights
- 15,432‑square‑foot Walgreens retail property
- Built in 2004
- Located at 35553 US Hwy 19 N, Palm Harbor, FL 34683
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$171,527
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,430,540
$3.4M
Cap Rate 7%
$2,450,386
$2.5M
Cap Rate 9%
$1,905,856
$1.9M
Market Conditions
NOI Build-Up for 15,432 SF
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.
Gross rent
$240.7K $15.60/SF
− Vacancy
−$12.0K −$0.78/SF
EGI
$228.7K $14.82/SF
− OpEx
−$57.2K −$3.70/SF
NOI
$171.5K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,430,540
Cap Rate 7%
$2,450,386
Cap Rate 9%
$1,905,856
Alternative Uses
Best Use
Specialty Retail
$2.45M
$2.14M – $2.86M
NOI $171,527 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$2.16M
$1.89M – $2.53M
NOI $151,504 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,979 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
225k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Shops & Services 20%
Groceries 17%
Dining 16%
Walmart
Superstores
91,060 visits/mo
0.1 miles
Publix
Groceries
37,687 visits/mo
0.1 miles
LongHorn Steakhouse
Dining
16,875 visits/mo
0.0 miles
Shell
Shops & Services
12,428 visits/mo
0.2 miles
Circle K
Shops & Services
10,365 visits/mo
0.2 miles
Demographics for 34683, FL
33,453
Population
15,686
Households
2.1
Avg Household Size
49
Median Age
43%
College-Educated
95%
High-School Grad
10.3 sq mi
ZIP Area
3,248
Density / Sq Mi
$90,037
Median Household Income
$53,330
Median Earnings
$1,655
Median Rent
$424,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nicolette Mathey — 34650 US Hwy 19 N Suite 101, Palm Harbor, FL 346842155
- Oldsmar Pharmacy — 34911 US Hwy 19 N STE 612, Palm Harbor, FL 34684
- SurvivorRxPlan — 34911 US Hwy 19 N, Palm Harbor, FL 34684
- APS Pharmacy — 34911 US Hwy 19 N STE 600, Palm Harbor, FL 34684
- Gladis Choueifati — 35439 US Hwy 19 N, Palm Harbor, FL 346841737
Frequently Asked Questions
What type of property is this?
Drug store - Established pharmacy and retail building with a substantial commercial footprint along US Hwy 19 N.
Where is this drug store located?
The property is located at 35553 US Hwy 19 N Palm Harbor, FL.
What is the asking price?
The asking price for this property is $4,740,740.
What are key features of this property?
This property features: 15,432‑square‑foot Walgreens retail property; Built in 2004; Located at 35553 US Hwy 19 N, Palm Harbor, FL 34683
