Retail•Strip Center•For Lease

Sunset Square Shopping Center

1861 N Highland Ave, Clearwater, Florida 33755

Lease Rate $10.00 /SqFt NNN
Sale Type Investment
Bldg Type Multi-Tenant
Status Existing
Year Built 1984
Stories 1
Vacancy 81%
Gross Bldg 83,100 SqFt
Total Avail 9,500 SqFt
Avail 1,050 to 0 SqFt
RBA 82,400 SqFt
Contig Space 2,400 SqFt
Market FL-Tampa/St. Petersburg
Sub-Market Clearwater Central Business District
This 85,000 + sf retail center is a prime redevelopment opportunity with a strong existing income stream. Stabilized tenants currently include the out-parcels; CVS and Checkers, both on longterm leases; Subway and Jackson Hewitt Tax Service, and the anchor Kash 'n Karry who has a remaining obligation through February 2019 on a lease in a dark location and may offer incentives to a potential tenant who will take over space upon redevelopment. The center is priced to cash flow at current occupancy allowing a buyer time to redevelop and procure new tenants after acquisition with a huge upside potential of 28,452 sf of vacant space to be filled. Plans have also been approved to redevelop the anchor space into a self storage location which would also reduce parking requirements and make an additional high rent out-parcel possible. Excellent retail leasing opportunities in the newly renovated Sunset Square Shopping Center. This redevelopment included the transition of a large end-cap retail box into Clearwater Storage, which drastically increases an already abundant parking availability (5:1000), as well as the most exciting addition of a new anchor tenant, Planet Fitness, which will drive a huge consumer presence to a plaza which already includes national retailers such as CVS, Subway, and Checkers and being adjacent to a Walmart Neighborhood Market and Dunkin Donuts. Retail suites available from 1,050 SF to 3,000 SF. A 2,400 SF restaurant space is also available. Please visit the "Available Spaces" section of the website or view the brochure to see several leasing opportunities as well as additional information. A retail outparcel of up to 5000 sf is also available along Highland, directly in front of Clearwater Storage. Conveniently located near the heart of downtown Clearwater. Access via Sunset Point Road or North Highland Avenue.
  • 7.9% Cap with existing vacancy
  • Huge Upside Potential
  • Site plans approved for redevelopment of grocery space to self storage
  • Additional Out-parcel possible

5 Spaces

Street Retail
3,000 SqFt
$10.00 NNN
1863
Initial estimated monthly rent: $3,437
Street Retail
2,000 SqFt
$10.00 NNN
1865
Initial estimated monthly rent: $2,291
Restaurant
2,400 SqFt
$10.00 NNN
1871 & 1875
2,400 SqFt
2,400 SqFt
Restaurant space - Initial estimated monthly rent: $2,750
Street Retail
1,050 SqFt
$10.00 NNN
1889
Initial estimated monthly rent: $1,203
Street Retail
1,050 SqFt
$10.00 NNN
1893
Initial estimated monthly rent: $1,203
11/6/2019 5:54:01 PM 2/7/2020 2:35:36 AM
Michael Braccia
Sales Associate
BayStreet Commercial
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