2659 Roosevelt Blvd Clearwater, FL 33760

Property Details for 2659 Roosevelt Blvd

Year built

2023

Property size

11,500 SF

Property type

Lifestyle centers

Property subtype

Power centers

APN

32-29-16-70362-300-0604

Description

This exceptional 11,500-square-foot retail property, built in 2023, presents a compelling investment opportunity in Clearwater, Florida. Located at 2659 Roosevelt Blvd, this single-story, multi-tenant building boasts five units, currently leased to a mix of businesses, including the anchor tenant, Village Inn. The property benefits from an Absolute NNN lease structure, minimizing landlord responsibilities. Each of the four additional tenants holds a 10-year lease, providing significant long-term stability. The leases include a 10% rental increase every five years, ensuring consistent revenue growth. Situated on a high-traffic retail corridor at the intersection of US Hwy 19 North and Roosevelt Blvd, the property enjoys exceptional visibility and accessibility. The location benefits from a high daily traffic count exceeding 46,756 vehicles on Roosevelt Blvd, and is directly adjacent to a Walmart Supercenter. Nearby prominent retailers include Wawa, Cheddar's, McDonald's, and Starbucks. The surrounding area demonstrates strong demographics, with a 5-mile population of 102,305 residents and a median household income of $70,630. The property's lease terms extend until March 31, 2034, offering a remaining lease term of approximately 9.4 years. This prime retail investment in a thriving Florida market with no state income tax offers a unique opportunity for substantial returns. The property's APN is 32-29-16-70362-300-0604.