1229 Missouri Ave Largo, FL 33770

Property Details for 1229 Missouri Ave

Year built

2014

Construction

CONCRETE

Lot size

4.75 lot acres

Property size

40,778 SF

Property type

Specialty properties

APN

27-29-15-57787-000-0010

APU

272915577870000010

Description

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.

Location Insight

City

Largo

County

Pinellas

State

Florida

Longitude

-82.7889

Latitude

27.9294

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments