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    1814 Hwy Holiday, FL 34691

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    1814 Hwy Holiday, FL 34691

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    • Retail properties & Spaces
    • 86,372 SF
    • 8.21 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1814 Hwy

    Year built
    1966
    Lot size
    8.21 lot acres
    Property size
    86,372 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    Pappas Plaza offers exceptional retail and office space for lease, strategically located at the intersection of US 19 and Mile Stretch, near the Pinellas/Pasco county border. This single-story, 86,372 square foot Class C building, constructed in 1966, boasts 21 suites and ample parking with 200 spaces. The property sits on 8.21 acres of land and is zoned C2. Currently, three spaces are available, ranging from 2,400 to 15,000 square feet. Pappas Plaza benefits from high visibility and traffic due to its prime location. The center is anchored by a strong mix of national tenants including Save-a-lot, NAPA Auto Parts, UPS, Little Caesars, and Subway. In addition to these national brands, the center also houses a diverse range of local businesses, such as The Stockyard (a country bar and concert venue), a pharmacy, laundromat, two breakfast restaurants, a furniture liquidator, and a cabinet shop. All leases are NNN Triple Net, providing a simplified and comprehensive leasing experience. This vibrant commercial center presents a unique opportunity for businesses seeking high visibility and a thriving business environment. The property's established tenant base and convenient location make it an ideal choice for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Holiday
    County
    Pasco
    State
    Florida
    Longitude
    -82.7397
    Latitude
    28.1873

    Comparable in this City

    • Value Estimation by Request
      4,700 SF

      2008 Us-19

      Retail properties & Spaces • 4,700 SF
      2008 Us-19, Holiday, FL 34691
      View Details
    • Value Estimation by Request

      2520 Us-19

      Medical Office Space
      2520 Us-19, Holiday, FL 34691
      View Details
    • Value Estimation by Request
      2,240 SF

      4413 Buena Vis Ln

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,240 SF
      4413 Buena Vis Ln, Holiday, FL 34691-5454
      View Details
    • Value Estimation by Request
      3,000 SF

      2418 Hwy

      Individual retail properties • 3,000 SF
      2418 Hwy, Holiday, FL 34691
      View Details
    • Value Estimation by Request
      3,802 SF

      2616-2624 Us-19

      Restaurants • 3,802 SF
      2616-2624 Us-19, Holiday, FL 34691
      View Details
    • Value Estimation
      $1,400,000
      1,431 SF

      1525 Alternate Hwy 19

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,431 SF
      1525 Alternate Hwy 19, Holiday, FL 34691
      View Details

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    Similar Nearby for Lease

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      Retail and Office Space Available

      Prime commercial spaces for lease in Pappas Plaza.
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      Thriving Retail Center on US-19

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      8,570 SF

      Retail Building on US Highway

      8,570 SF retail building with excellent access and visibility.
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    Holiday, FL 34691
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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