508 Athens St Tarpon Springs, FL 34689

OFF-MARKET

Bars & Pubs

Property ID

US18-7971945

4,703 SF 0.08 ac lot Built 1932

Individually Owned 41-yr Hold Absentee Owner Free & Clear

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Prime commercial space available for lease in the heart of Tarpon Springs' Historic Sponge Docks. This single-story, 4,703-square-foot building, renovated in 2022, offers a versatile layout ideal for various uses, including restaurants, retail, or entertainment venues. The property features a spacious open area, a former kitchen with a 10' hood and fan, and existing electrical plans for additional appliances. Three bathrooms, an office, and a storage room provide ample support space. The building is zoned T5c and allows for mixed-use, including restaurants and alcoholic beverage establishments (both on and off-premise). Conditional uses include office space, marine-related commercial ventures, and more. This location, previously home to Zorba's nightclub, presents a unique chance to establish a thriving business in a vibrant, historic setting. The property includes no on-site parking. This is a Class C building with one building on one story.

Property type Bars & Pubs

Use group NIGHTCLUB (COCKTAIL LOUNGE)

Year built 1932

Construction CONCRETE BLOCKS

Total area 4,703 SF

Lot 0.08 ac (3,372 SF)

APN 12-27-15-41184-000-0120

UPID US18-7971945

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

508 Athens St Tarpon Springs, FL 34689-3106

Tarpon Springs metro Census 27501 TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

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Comparable Approach Comparable

$652k

Blend (final) Blend

$220k

since 1985

1 recorded transaction

1985

$55,000

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
$350,000

1,420 SF

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Value Estimation
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121 Tarpon Ave

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