1454 Us-19 Alt Palm Harbor, FL 34683

Property Details for 1454 Us-19 Alt

Year built

2004

Lot size

0.63 lot acres

Property size

5,750 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional retail strip center, located at 1454 US-19 ALT in Palm Harbor, Florida (34683), presents a compelling value-add investment opportunity. The 5,750 square foot property, built in 2004 and extensively renovated in 2024, boasts a prime location on a busy highway with 200 feet of frontage. Currently housing four tenants with 100% occupancy, generating a pro-forma NOI of $125,173 and a 5.69% pro-forma cap rate, this property offers significant upside potential. Recent capital expenditures include a new roof (November 2023), three new AC units (January 2024), and new gutters (June 2019), totaling over $118,000 in improvements. The property features 25 parking spaces and sits on a 0.63-acre lot, zoned C-1. The two-story building offers a unique opportunity to expand rentable space by finishing the currently unfinished second floor (approximately 3,000 additional square feet – buyer to verify with local authorities). The property is managed by an HOA responsible for common areas, parking lot maintenance, trash removal, and landscaping. Lease terms are gross, with multi-tenant occupancy. Detailed rent rolls and lease options are available upon request. The asking price is $2,200,000 ($382.61/sq ft). This property is fee simple ownership. The strong tenant base, high traffic count, and potential for expansion make this a truly remarkable investment opportunity in a rapidly growing market.

Location Insight

City

Palm Harbor

County

Pinellas

State

Florida

Longitude

-82.7673

Latitude

28.0812