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Building Details

Year Built 1957

Listing Agency: VIEWPOINT REALTY INTERNATIONAL Show Phone

Listed By: Georgette Gillis · License #3006422 Show Phone

Source: Exitrealty

Added: May 28, 2023 Changed: Oct 7 Last Checked: Oct 12 at 6:36PM

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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 VIEWPOINT REALTY INTERNATIONAL

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 / Yr

$32,437

Cap Rate

3.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$648,740 $648.7K

Cap Rate 7%

$463,386 $463.4K

Cap Rate 9%

$360,411 $360.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,304 SF

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 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. How Realmo checks its estimates

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Restaurant Electrical Service

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

Similar Off Market Nearby

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