USAFLPalm HarborPalm Harbor Estates1454-1470 Alt 19

1454-1470 - 1454-1470 Alt 19, Home with 0 bedrooms, 0 bathrooms and null parking in PALM HARBOR FL | Image 1

$1,850,000

1454-1470 - 1454-1470 Alt 19, Palm Harbor, FL

Real Estate

For Sale

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Key Facts
Description
Map

Key Facts

Type Retail

Levels Commercial Sale

Size 5750 sqft

Garage No

Maintenance Fees

Taxes $14,319

Days Active 376

Approx. Age 2004

Avg. Price Per Sqft $321

MLS® Number U8248063

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

PRICE REDUCTION! Owner Financing Available With Attractive Terms! Price Reduction. Take advantage of this rare opportunity to own a 6000sf (mol) retail stripcenter in the heart of one of Pinellas County’s most desirable communities, Palm Harbor. This popular stripcenter is located in the Downtown Palm Harbor district on busy hwy alternate 19, close to dozens of thriving businesses which includes restaurants, coffee shops, breweries, retail shops and much more. The Downtown Palm Harbor district is growing rapidly and will soon be the next downtown Dunedin. Barrier to entry into this market is high now and will only be more difficult in the near future. A high income demographic and dense local population with over 20, 000 average vehicles per day provides strong support for any retail and/or office in the stripcenter. Capital expenditure includes over $75, 000 for a new roof in November 2023, $25, 000 for three new AC units in January 2024 and $8, 000 for new gutters in June 2019. The property is pristine with excellent maintenance history. There is an HOA in place which manages the common areas, parking lot, trash removal and grounds. See HOA fees in offering memorandum. There is huge upside potential. Increasing the below market base rents and charging triple net fees (which only one of the current tenants pay) will significantly increase income. Increasing triple net fees alone will increase the revenue by almost $33, 000 annually. Base rents can be increased accordingly. See proforma attached, with other associated financial, comp and related due diligence documentation. The second floor is currently unfinished. Investment into finishing the second floor of the stripcenter can increase the rentable square footage by approximately 3000 additional square feet. It is buyer’s sole responsibility to confirm with local authorities about regulations, requirements and ability to expand the rentable square footage on the second floor. X500 flood zone only requires minimum flood coverage.Show Description

MLS® NumberU8248063

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age2004

Stories1

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatHeat Pump

A/CCentral Air

Heating Fuel

Extras

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