Building Details

Building Size 9,605 SF

Year Built 1918

Listing Agency: KELLER WILLIAMS TAMPA PROP.

Listed By: Alexander Lucke · License #3351552 Show Phone

Source: Judibeck

Added: May 1, 2025 Changed: Oct 2 Last Checked: Oct 5 at 11:29PM

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Investment Insights

Based on property information with market context.

Located in the heart of Safety Harbor, this mixed-use property, known as Harbor Inn on Main, is a generational asset. The property has 155 feet of frontage on Main Street, recently ranked among the best in the U.S. The building, constructed in 1918, features 9,605 square feet under roof and 2,599 square feet of balcony space. Zoned Main Street Marketplace (MSM), it supports various uses, including retail, multi-family, office, hospitality, and entertainment. Currently, the property operates as a hybrid LTR/STR Airbnb Superhost, featuring eight turnkey apartment units: six one-bedroom units and two studios, each with full kitchens and baths. There is also an opportunity to expand with a ninth unit or an owner/manager’s suite. The ground-floor retail space, totaling 2,983 square feet, is elevated above street level and benefits from natural light. The retail space is currently rented month to month. Capital improvements include a new roof in 2020 on the primary building and new HVAC with ductwork in 2023 in the retail space. Additional features include 14 private parking spaces and garage/storage space. The property is located in Flood Zone X, near the Safety Harbor Spa, and features two Great Oaks on site, steps away from the Third Friday Street Festival. The property offers charm, versatility, and income potential.

Key Highlights

• Prime Main Street location in a nationally recognized top small town (USA Today ranking).
• Income‑generating property currently operating as a top‑rated Airbnb Superhost with 8 turnkey apartment units.
• Versatile Main Street Marketplace (MSM) zoning allows for a wide variety of uses (retail, multi‑family, office, hospitality, entertainment).

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,294

Cap Rate

2.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,385,880 $2.4M

Cap Rate 7%

$1,704,200 $1.7M

Cap Rate 9%

$1,325,489 $1.3M

Market Conditions

NOI Build-Up for 9,605 SF

Gross rent

$207.5K $21.60/SF

− Vacancy

−$16.6K −$1.73/SF

EGI

$190.9K $19.87/SF

− OpEx

−$71.6K −$7.45/SF

NOI

$119.3K $12.42/SF

Area

Pinellas County, FL

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,385,880

Cap Rate 7%

$1,704,200

Cap Rate 9%

$1,325,489

Alternative Uses

Best Use

Mixed Use

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,294 @ 7.0% cap · market cap 2.98%

Second Best

Apartment 5plus

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,338 @ 7.0% cap · market cap 2.21%

Theoretical Best

Office A

$2.50M

$2.19M – $2.91M (±1% cap)

NOI $174,884 @ 7.0% cap · market cap 4.37%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Harbor Inn on Main Hotel & Motel Harbor Inn Hotel & Motel Accents By Paula Interior Design

Suggested Use

Top Pick Dental Office Parking Lot & Garage Pharmacy Plumbing Service (Bike/Boat/Book/etc) Store Storage Facility

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

955

Businesses Nearby

Explore this area Business Placement

Demographics for 34695, FL

17,927

Population

8,025

Households

2.2

Avg Household Size

52

Median Age

46%

College-Educated

96%

High-School Grad

5.6 sq mi

ZIP Area

3,201

Density / Sq Mi

$96,138

Median Household Income

$53,436

Median Earnings

$1,680

Median Rent

$418,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Charming mixed-use property with retail and residential income potential.

Where is this mixed-use property located?

The property is located at 454 MAIN ST Safety Harbor, FL.

What is the asking price?

The asking price for this property is $3,999,000.

What are key features of this property?

This property features: Prime Main Street location in a nationally recognized top small town (USA Today ranking).; Income‑generating property currently operating as a top‑rated Airbnb Superhost with 8 turnkey apartment units.; Versatile Main Street Marketplace (MSM) zoning allows for a wide variety of uses (retail, multi‑family, office, hospitality, entertainment).