Belleair Bluffs Leased Commercial
For Sale
Contact for pricing
420 Indian Rocks Rd N, Belleair Bluffs, FL 33770
Commercial building with three leased units in Belleair Bluffs.
Property Size4,040 SF
Price / SF$266.09
Days on Market867
Property Features for 420 Indian Rocks Rd N
General Information
Standard status
Active
Size
4,040 SF
Total Parking Spaces
10
Property subtype
Retail
Zoning
commercial
Occupancy
3%
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Viewpoint Realty International Inc
Listed By:
Georgette Gillis · License #FL SL3105784
(727) 448-3533
Source:
Crexi
Added: Apr 22, 2024
Changed: Sep 2
Last Checked: Sep 5 at 12:42AM
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 Inc
Investment Insights
Based on property information with market context.
This commercial building, located in Belleair Bluffs, contains three units that are currently leased. The property features a new roof and a newly resurfaced parking lot. An additional storage building is located in the rear of the property and is currently leased by one of the units. The tenants are long term.
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
$39,663
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
3.69%
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%
$793,260
$793.3K
Cap Rate 7%
$566,614
$566.6K
Cap Rate 9%
$440,700
$440.7K
Market Conditions
NOI Build-Up for 4,040 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
$60.6K $15.00/SF
− Vacancy
−$3.9K −$0.98/SF
EGI
$56.7K $14.03/SF
− OpEx
−$17.0K −$4.21/SF
NOI
$39.7K $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%
$793,260
Cap Rate 7%
$566,614
Cap Rate 9%
$440,700
Alternative Uses
Best Use
Retail
$566.6K
$495.8K – $661.1K
NOI $39,663 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$919.5K – $1.23M
NOI $73,559 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
84k
Monthly Visits Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial building with three leased units in Belleair Bluffs.
Where is this retail space 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
