1208 Pinellas Ave Tarpon Springs, FL 34689

Anclote Plaza, a 13,994 square foot shopping center in Tarpon Springs, Florida, presents a compelling investment opportunity. Priced at $1,675,000, this property boasts a 6.33% cap rate and a strong net operating income (NOI) of $106,000. The center comprises two buildings totaling 11,800 square feet of net rentable space, situated on a 1.61-acre lot with ample parking (62 spaces). Currently, three tenants occupy the space, with leases expiring January 1, 2025. One building is approximately 2,500 square feet and currently operates as a bar/lounge. The main building, approximately 9,300 square feet, includes a 4,500 square foot vacant shell, two occupied units, and one vacant 1,500 square foot space. The property features a metal roof installed in 2017 and approved renovation plans are available. Located on US ALT 19, less than half a mile from the Sponge Docks, this property benefits from a prime location and high visibility. Zoned for General Business, permitted uses include professional offices, hotels, repair services, restaurants, retail food and sales, shopping centers, and mixed-use developments. This is an exceptional opportunity to acquire a well-located retail center with significant upside potential. The property includes five units and was built in 1988.