1300 Bay Dr Largo, FL 33771-1004

Property Details for 1300 Bay Dr

Year built

1973

Construction

CONCRETE BLOCKS

Lot size

1.74 lot acres

Property size

17,048 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

35-29-15-70218-200-2200

APU

352915702182002200

Description

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.

Location Insight

City

Largo

County

Pinellas

State

Florida

Longitude

-82.7734

Latitude

27.9172

CBSA code

45300

CBSA name

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

Property Tax & Assessments