Storefront Property with
For Sale
Contact for pricing
903 South Pinellas Avenue, Tarpon Springs, FL 34689
Street-facing commercial space with signage and a combination of vacant and leased area.
Property Size2,720 SF
Price / SF$211.40
Days on Market14
Property Features for 903 South Pinellas Avenue
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Retail, Hospitality, Mixed Use
Zoning
SAP (Special Area Plan)
Building Details
Year Built
1954
Year Renovated
1972
Stories
1
Listing Agency:
Wikle Real Estate, Inc.
(727) 781-5444
Listed By:
Wyatt Wikle · License #FL 3330102
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 31 at 9:35AM
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 Wikle Real Estate, Inc.
Investment Insights
Based on property information with market context.
This storefront property at 903 South Pinellas Avenue totals 2,720 SF and includes 1,400 SF available for immediate occupancy. The remaining 1,320 SF is subject to a 2-year lease. Restaurant fixtures are included in their existing as-is condition, providing an established physical setup for a compatible use.
The property offers visibility and signage exposure along Alternate 19 in Tarpon Springs, Florida. It is zoned SAP (Special Area Plan) and was built in 1954.
The property offers visibility and signage exposure along Alternate 19 in Tarpon Springs, Florida. It is zoned SAP (Special Area Plan) and was built in 1954.
Key Highlights
- 2,720 SF total property size
- 1,400 SF available for immediate occupancy
- 1,320 SF under 2‑year lease
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
$26,704
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
4.64%
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%
$534,080
$534.1K
Cap Rate 7%
$381,486
$381.5K
Cap Rate 9%
$296,711
$296.7K
Market Conditions
NOI Build-Up for 2,720 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
$40.8K $15.00/SF
− Vacancy
−$2.7K −$0.98/SF
EGI
$38.1K $14.03/SF
− OpEx
−$11.4K −$4.21/SF
NOI
$26.7K $9.82/SF
Area
Pasco 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%
$534,080
Cap Rate 7%
$381,486
Cap Rate 9%
$296,711
Alternative Uses
Best Use
Retail
$381.5K
$333.8K – $445.1K
NOI $26,704 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.6K
$542.2K – $722.9K
NOI $43,372 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Home Improvements & Furnishings 24%
Dining 22%
Shops & Services 7%
Winn-Dixie
Groceries
22,556 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,519 visits/mo
0.2 miles
Vision Ace Hardware
Home Improvements & Furnishings
7,423 visits/mo
0.2 miles
Leslie's Pool Supplies
Home Improvements & Furnishings
3,950 visits/mo
0.2 miles
Shell
Shops & Services
3,139 visits/mo
0.3 miles
Demographics for 34689, FL
27,436
Population
14,193
Households
1.9
Avg Household Size
53
Median Age
32%
College-Educated
93%
High-School Grad
10.6 sq mi
ZIP Area
2,588
Density / Sq Mi
$66,523
Median Household Income
$45,294
Median Earnings
$1,207
Median Rent
$311,500
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.
Similar Off Market Nearby
- Kikilis Florist — 417 S Pinellas Ave, Tarpon Springs, FL 34689
- Flowers Tarpon Spring Florist — tarpon springs, fl 34689
Frequently Asked Questions
What type of property is this?
Storefront property - Street-facing commercial space with signage and a combination of vacant and leased area.
Where is this storefront property located?
The property is located at 903 South Pinellas Avenue Tarpon Springs, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,720 SF total property size; 1,400 SF available for immediate occupancy; 1,320 SF under 2‑year lease
