Neighborhood Retail Plaza with Beach
5610 Gulf of Mexico Dr Longboat Key, FL 34228
5610 Gulf of Mexico Dr, Longboat Key, FL, 34228
Contact for pricing
For Sale
Contact for pricing
Multi-tenant neighborhood shopping plaza offered with NNN leases and deeded beach access.
Property Size9,611 SF
Lot Size1.30 Acres
Price / SF$338.15
Days on Market66
Property Features for 5610 Gulf of Mexico Dr
General Information
- Standard status
- Active
- Size
- 9,611 SF
- Lot size
- 1.30 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1986
Listing agency
American Property Group of Sarasota Inc
(941) 923-0535
Listed by
Adam Doak · License #FL 3271713
Source
Crexi
Added: May 19 Updated: Jul 21 at 1:36AM Checked: Jul 22 at 12:24PM
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 American Property Group of Sarasota Inc
Investment Insights
Based on property information with market context.
Paradise Isle Plaza is a multi-tenant neighborhood shopping plaza configured with six retail suites totaling approximately 9,611 SF of leasable space. The property is structured with NNN leases and is described as exceptionally maintained. The offering also includes deeded beach access.
The center is located at 5610 Gulf of Mexico Drive and is noted for strong frontage along one of the island’s primary corridors. The site includes on-site parking for customers and employees.
Set on approximately 1.3 acres, Paradise Isle Plaza is presented as a retail investment property with a long-standing tenant mix and an established operating history.
The center is located at 5610 Gulf of Mexico Drive and is noted for strong frontage along one of the island’s primary corridors. The site includes on-site parking for customers and employees.
Set on approximately 1.3 acres, Paradise Isle Plaza is presented as a retail investment property with a long-standing tenant mix and an established operating history.
Key Highlights
- Paradise Isle Plaza is a multi‑tenant neighborhood retail shopping plaza with 6 retail suites totaling approx. 9,611 SF.
- Year built: 1986; approx. 1.3 acres with strong frontage on Gulf of Mexico Drive in Longboat Key.
- Located at 5610 Gulf of Mexico Drive, offering on‑site parking for customers and employees.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $173.0k | $18.00 |
| − Vacancy | −$4.2k | −$0.43 |
| EGI | $168.8k | $17.57 |
| − OpEx | −$50.7k | −$5.27 |
| NOI | $118.2k | $12.30 |
9,611 SF · lease $18.00/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,192 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,841 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Penny's Ice Cream
Grocery & Convenience Store
Backyard Bike Shop
(Bike/Boat/Book/etc) Store
Creative Kitchens & Baths
General Contractor
Chrissy Stites, LMT, ...
Alternative Medicine Practice
La Villa Mexican ...
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Centre Shops of Longboat Key — 5370 Gulf of Mexico Dr, Longboat Key, FL 34228
FAQs
What type of property is this?
Shopping center - Multi-tenant neighborhood shopping plaza offered with NNN leases and deeded beach access.
Where is this shopping center located?
The property is located at 5610 Gulf of Mexico Dr Longboat Key, FL.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Paradise Isle Plaza is a multi‑tenant neighborhood retail shopping plaza with 6 retail suites totaling approx. 9,611 SF.; Year built: 1986; approx. 1.3 acres with strong frontage on Gulf of Mexico Drive in Longboat Key.; Located at 5610 Gulf of Mexico Drive, offering on‑site parking for customers and employees.
