1300 Bay Dr Largo, FL 33771-1004

This Largo, Florida retail property offers a compelling investment opportunity. The 19,190 square foot (17,048 net rentable) center boasts 13 tenants in a multi-tenant building with 94% occupancy and a 6.00% cap rate. The stabilized investment features a modified lease type with a current one-year lease term and rent bumps. The property, built in 1973 and renovated in 2009, comprises two single-story buildings situated on a 1.74-acre lot with ample parking (101 spaces). Located at 1300 E Bay Dr, Largo, FL 33771, in Pinellas County, this Class B property benefits from a prime location on East Bay Drive. The property's zoning permits retail use, and its location in an X flood zone eliminates the need for flood insurance. The substantial Net Operating Income (NOI) of $182,697, coupled with the asking price of $3,044,950 and a price per square foot of $158.67, presents a strong return on investment. The property includes a billboard generating additional income. The roof was installed in 2003, and the parking lot was overlaid in 2016. This is a rare opportunity to acquire a well-maintained, high-performing retail center in a thriving Florida market.