4855 Bay Dr, Clearwater, FL 33764-6800

Property Details for 4855 Bay Dr

Year built

2023

Construction

CONCRETE BLOCKS

Lot size

0.97 lot acres

Property type

Drive through restaurants

APN

31-29-16-81203-000-0020

APU

312916812030000020

Description

This exceptional investment opportunity presents a 3,031 square foot Habit Burger Grill located at 4855 E Bay Dr, Clearwater, FL 33764. Built in 2023, this property boasts a 15-year absolute NNN lease with 13.4 years remaining, commencing April 5, 2023, and expiring April 30, 2038. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property features a dedicated drive-thru, enhancing customer convenience and contributing to the strong net operating income (NOI) of $175,000, resulting in a 5.15% cap rate. Situated on a 0.97-acre lot, this location benefits from excellent visibility and accessibility, with 62,000 vehicles passing daily. Its prime location along East Bay Drive places it adjacent to Tri-City Plaza, an upscale shopping center anchored by Publix, and within a dense retail corridor including Walmart, Petco, and other national brands. The property's proximity to US Route 19 and Downtown Clearwater, along with its location near the St. Pete-Clearwater International Airport, ensures a large and reliable customer base. The asking price is $3,399,000, making this a compelling investment opportunity with significant potential for long-term returns. The property is ideally suited for a 1031 exchange.

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Longitude

-82.737

Latitude

27.9156

CBSA code

45300

CBSA name

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

Property Tax & Assessments