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    1229 Missouri Ave Largo, FL 33770

    Sponsored
    For Sale
    $11,465,000

    High-yield, NNN-leased fitness center.

    Property size:
    45,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 45,000 square foot, single-tenant retail building in Largo, Florida, fully occupied by LA Fitness under a NNN lease with a corporate guarantee. The property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $773,856. Built in 2014, the building sits on a 4.88-acre lot with 252 parking spaces and is strategically located at the signalized intersection of Missouri Avenue (30,000 AADT) and Jasper Street, benefiting from high visibility and traffic counts. The lease has 7 years remaining, providing long-term stability and income potential. The property is zoned C2 and enjoys a prime location near other major retailers, including TJ Maxx and Ross Dress for Less. This asset is situated in an Opportunity Zone, offering additional investment incentives. The property's strong demographics, with a 3-mile population of 108,936 and an average household income of $88,721, further enhance its investment appeal. The asking price is $11,465,000, representing a price per square foot of $254.78. This is a fully stabilized, cash-flowing investment with a national tenant and significant upside potential through lease option periods. The property's location and tenant strength make it an attractive addition to any portfolio. The Pinellas County property features a single building and is conveniently located at 1229 Missouri Ave N, Largo, FL 33770.

    Property Features for 1229 Missouri Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    45,000 SF
    Lot Size
    212,573 SF

    Building Details

    Year Built
    2014
    Buildings
    1
    Units
    1

    HighLights

    • National fitness chain LA Fitness (owned by Fitness International) is the tenant.
    • Esporta (tenant since 2014) has a lease with 5.8 years remaining plus three 5‑year options.
    • Strong demographics: 108,936 residents, $88,721 average household income, and 110,651 daytime population within a 3‑mile radius.
    • Strategically located in an Opportunity Zone at a signalized intersection of Missouri Avenue (US‑19 Alternate) and Jasper Street, with Missouri Avenue boasting an AADT of 30,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fuel Up Cafe Health Food Store British Swim School ... Swimming School Seriously Fresh Restaurant Maple Self Storage ... Self-Storage Facility Esporta Fitness Gym

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.788411535141
    Latitude
    27.929590195047

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield, NNN-leased fitness center.
    Where is this lifestyle center located?
    The property is located at 1229 Missouri Ave Largo, FL.
    What is the asking price?
    The asking price for this property is $11,465,000.
    What are key features of this property?
    This property features: National fitness chain LA Fitness (owned by Fitness International) is the tenant.; Esporta (tenant since 2014) has a lease with 5.8 years remaining plus three 5-year options.; Strong demographics: 108,936 residents, $88,721 average household income, and 110,651 daytime population within a 3-mile radius.
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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
    1229 Missouri Ave Largo, FL 33770
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