Building Details

Building Size 3,304 SF

Year Built 1957

Stories 1

Units 3

Listing Agency: VIEWPOINT REALTY INTERNATIONAL v***@gmail.com Show Phone

Listed By: Georgette Gillis · License #3006422 Show Phone

Source: Elliman

Added: Mar 11 Changed: Aug 13 Last Checked: Aug 22 at 10:46AM

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Investment Insights

Based on property information with market context.

This commercial building is located in Belleair Bluffs and features three units that are currently leased. The property includes a new roof and a newly resurfaced parking lot. Parking is available both in front of and behind the building. An additional storage garage is located at the rear of the building and is currently leased by one of the units. The property has long-term tenants. The property is located at 420 INDIAN ROCKS Rd N, Belleair Bluffs, FL 33770.

Key Highlights

• Great Location in Belleair Bluffs
• New Roof
• New Resurfaced Parking Lot

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

$32,437

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

3.02%

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%

$648,740 $648.7K

Cap Rate 7%

$463,386 $463.4K

Cap Rate 9%

$360,411 $360.4K

Market Conditions

NOI Build-Up for 3,304 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

$49.6K $15.00/SF

− Vacancy

−$3.2K −$0.98/SF

EGI

$46.3K $14.03/SF

− OpEx

−$13.9K −$4.21/SF

NOI

$32.4K $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 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%

$648,740

Cap Rate 7%

$463,386

Cap Rate 9%

$360,411

Alternative Uses

Best Use

Retail

$463.4K

$405.5K – $540.6K (±1% cap)

NOI $32,437 @ 7.0% cap · market cap 3.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$859.4K

$752.0K – $1.00M (±1% cap)

NOI $60,158 @ 7.0% cap · market cap 5.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Shopping centers

Suggested Use

Top Pick Auto Parts Store Auto Repair Shop Grocery & Convenience Store Electrical Service Parking Lot & Garage Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,346

Businesses Nearby

84k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 39% Shops & Services 32% Dining 28% Beauty & Spa 2%

Publix Groceries

32,546 visits/mo 0.3 miles

Speedway Shops & Services

12,305 visits/mo 0.3 miles

Panera Bread Dining

11,002 visits/mo 0.4 miles

Bonefish Grill Dining

8,662 visits/mo 0.4 miles

Bank of America Shops & Services

4,935 visits/mo 0.2 miles

Demographics for 33770, FL

25,475

Population

13,417

Households

1.9

Avg Household Size

50

Median Age

26%

College-Educated

90%

High-School Grad

5.2 sq mi

ZIP Area

4,899

Density / Sq Mi

$58,071

Median Household Income

$39,354

Median Earnings

$1,481

Median Rent

$245,200

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Cosa Collective — 596 Indian Rocks Rd N Unit 6, Belleair Bluffs, FL 33770
• Village Plaza — 1901 W Bay Dr, Largo, FL 33770
• Lucentgold LLC — 100 indian rocks rd n #6, belleair bluffs, fl 33770

Frequently Asked Questions

What type of property is this?

Shopping center - Commercial building with three leased units, new roof, parking.

Where is this shopping center located?

The property is located at 420 INDIAN ROCKS Rd N Belleair Bluffs, FL.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: Great Location in Belleair Bluffs; New Roof; New Resurfaced Parking Lot