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    Property profile & analytics

    1860 Main St Dunedin, FL 34698

    • Lifestyle centers
    • 31,900 SF
    • 3.60 lot acres
    For Sale
    View listing
    $4,125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6272877
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1860 Main St

    Year built
    1996
    Lot size
    3.60 lot acres
    Property size
    31,900 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional value-add opportunity presents a 31,900 square foot shopping center in Dunedin, Florida. The property, situated on a 3.6-acre lot at 1860 Main St, consists of two single-story buildings totaling ten units, built in 1993 and 1996, with renovations completed between 2018 and 2019. Currently boasting 70% occupancy across seven tenants, this multi-tenant retail center offers significant upside potential. The property features 31,200 square feet of net rentable space and operates under a net lease structure. Zoned R&S/CHHA, the property allows for a wide range of commercial uses. Its prime Main Street location in Pinellas County (zip code 34698) ensures high visibility and accessibility. All three parcels are included in this $4,125,000 asking price. This is an ideal investment for those seeking to capitalize on Dunedin's thriving commercial district. The property's size, location, and flexible zoning make it a compelling opportunity for long-term growth and profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dunedin
    County
    Pinellas
    State
    Florida
    Longitude
    -82.753895994298
    Latitude
    28.019670269368

    Comparable in this City

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      Prime Dunedin Marina Investment

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      Dunedin Main Street Retail Center

      High-traffic retail space, prime location.
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    Similar Nearby for Sale

    • $2,630,000
      8,287 SF

      Dunedin Mixed-Use Plaza Opportunity

      High-visibility Dunedin strip center with large parking and development potential.
      1600 Achieva Way, Dunedin, FL 34698
      View Details
    • $18,000,000
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      Dunedin Mixed-Use Development Opportunity

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    • $9,750,000
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      Prime Dunedin Marina Investment

      Profitable Waterfront Marina with Boat Club
      2400 Bayshore Blvd, Dunedin, FL 34698
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    • $4,125,000
      31,200 SF

      Dunedin Main Street Retail Center

      High-traffic retail space, prime location.
      1860 Main St, Dunedin, FL 34698
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    • $3,625,000
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      Downtown Dunedin Commercial Opportunity

      Two-story building in downtown Dunedin near shops and restaurants.
      220 Scotland St, Dunedin, FL 34698
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    • $587,000
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      Dunedin Buildable Residential Land

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    Similar Nearby for Lease

    • Contact for pricing

      Office Spaces in High-Volume Center

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      Dunedin Retail/Medical Space Available

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      Dunedin Retail Space For Lease

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      Retail Space in Dunedin, FL

      Retail space available in Dunedin, with high traffic and visibility.
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    1860 Main St
    Dunedin, FL 34698
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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