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    103 Indian Rocks Rd Belleair Bluffs, FL 33770

    Sponsored
    For Sale
    $8,200,000

    High-Yield Florida Walgreens

    Property size:
    14,490 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 14,490 square foot Walgreens located at 103 Indian Rocks Rd, Belleair Bluffs, FL 33770. The property boasts a prime location in the Tampa MSA, situated at a signalized intersection with high daily traffic volume (over 31,500 vehicles). Walgreens, a credit-rated tenant, occupies the entire building under an absolute NNN lease with a remaining term of approximately 3.8 years, expiring August 30, 2028, with renewal options. The lease commenced August 31, 2003, demonstrating a long-standing and successful tenancy. The property features 54 parking spaces and sits on a 1.68-acre lot. Built in 2003, this single-story building offers a strong net operating income (NOI) of $492,000, resulting in a 6.00% cap rate. The asking price is $8,200,000. This is a rare chance to acquire a fully occupied, low-maintenance retail property with significant upside potential in a high-demand area, offering investors a stable cash flow and minimal landlord responsibilities. The average household income within a 3-mile radius is $93,120. The property is zoned commercial and has a Pinellas County APN of 32-29-15-55350-011-0050. This is a truly exceptional opportunity for discerning investors seeking a secure and profitable addition to their portfolio.

    Property Features for 103 Indian Rocks Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,490 SF
    Lot Size
    73,181 SF

    Building Details

    Year Built
    2003
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $8,200,000 asking price for a Walgreens‑occupied retail property.
    • Absolute NNN lease with a credit‑rated tenant.
    • 14,490 square feet on a 1.68‑acre lot with 54 parking spaces.
    • 6.00% cap rate with a $492,000 NOI.
    • 25‑year lease with approximately 3.8 years remaining, expiring 08/30/2028.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleair Bluffs
    County
    Pinellas
    State
    Florida
    Longitude
    -82.81759298
    Latitude
    27.9159827

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Florida Walgreens
    Where is this individual retail property located?
    The property is located at 103 Indian Rocks Rd Belleair Bluffs, FL.
    What is the asking price?
    The asking price for this property is $8,200,000.
    What are key features of this property?
    This property features: $8,200,000 asking price for a Walgreens-occupied retail property.; Absolute NNN lease with a credit-rated tenant.; 14,490 square feet on a 1.68-acre lot with 54 parking spaces.
    Request Owner's contact information
    103 Indian Rocks Rd Belleair Bluffs, FL 33770
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    Belleair Bluffs, FL 33770
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    103 Indian Rocks Rd Belleair Bluffs, FL 33770
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