Current Use by Public Records
- Dialamerica / Telecommunications Service / Tech Support Center
Property Details for 5501 Roosevelt Blvd
- Year built
- 1988
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Clearwater, Florida shopping center presents a compelling investment opportunity. The property, located at 5501-5555 Roosevelt Blvd, boasts 17,891 square feet across two single-story buildings, constructed in 1988 and renovated in 2019. The center features five tenants, including a thriving MÃœV Cannabis Dispensary, one of Florida's leading medical cannabis providers. A significant 2,173 square foot end-cap space offers substantial upside potential, potentially suitable for a restaurant or bar, given its outdoor area. The property benefits from a prime location in Pinellas County, directly across from Bay Vista Business Park, home to TD Synnex Corporation's global headquarters. Ample parking (109 spaces) and high visibility on Roosevelt Boulevard enhance its appeal. The property's strong financial performance is reflected in its $3,950,000 asking price, a 6.72% cap rate, and a net operating income (NOI) of $265,545. The property is zoned CG and includes rent bumps. This NNN-leased multi-tenant property offers a solid return on investment with potential for future growth. The property's APN is 33-29-16-70380-200-1101.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Clearwater
- County
- Pinellas
- State
- Florida
- Longitude
- -82.71
- Latitude
- 27.9165
