1301 Missouri N Ave Largo, FL 33770-1819

Property Details for 1301 Missouri N Ave

Year built

1958

Construction

CONCRETE BLOCKS

Lot size

6.84 lot acres

Property size

23,766 SF

Property type

Community centers

APN

27-29-15-57787-000-0020

APU

272915577870000020

Description

This exceptional 119,694 square foot, Class A power center in Largo, Florida, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong 6.75% cap rate, this stabilized property generates a substantial net operating income (NOI) of $1,524,677. The property features six tenants, including nationally recognized brands like Dollar Tree, LA Fitness, TJ Maxx, and Ross, ensuring consistent cash flow. Three of these tenants hold investment-grade credit ratings. The center is strategically located at the highly visible corner of Missouri Avenue (US 19 Alternate) and Jasper Street, a signalized intersection with 30,000 AADT. The property comprises three single-story buildings on a 12.23-acre lot, offering ample parking (545 spaces). Built in 2014, the property is zoned C2 and features a weighted average lease term remaining of 4.61 years, with tenants possessing multiple 5-year option periods and rent increases. The asking price is $22,588,000, translating to $188.71 per square foot and $199 per square foot for land value. This fee-simple ownership opportunity provides a stable, high-performing asset with significant upside potential through future lease escalations. The property is situated within a strong demographic area, boasting a 3-mile population of 108,936 and an average household income of $88,721. This prime location, coupled with the strength of its tenants and lease terms, makes this a truly exceptional investment.

Location Insight

City

Largo

County

Pinellas

State

Florida

Longitude

-82.7887

Latitude

27.9305

CBSA code

45300

CBSA name

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

Property Tax & Assessments