Owner-User or Value-Add Retail Plaza

Bridgewater Commercial Presents this nice opportunity to purchase a concrete block shopping plaza, on nearly three-quarters of an acre, on busy Seminole Boulevard in Largo. The average daily traffic is 33,000. This 12,633 square-foot-center, not in a Flood Zone (X) but in an Opportunity Zone, is built to serve up to 6 tenants–Thirty-six parking spaces are on the premises and nice monument signage fronts the major thoroughfare. The center was built in 1976. Roof and plumbing were upgraded in 2020, according to city permit records. Current modified-gross rents (landlord pays water, sewer and trash) are well below market as rents jumped 6.9% in the submarket in 2021. Tenants on average pay $19.90 per square foot in Mid-Pinellas. Investors are paying $219 per square foot to purchase retail, according to CoStar, in this submarket. This seller is asking $127. Vacancies in the submarket are 4.6%. A retail marketplace “gap analysis” profile reveals retail opportunity within a 3-mile radius (the underserved gap between supply and demand) at a whopping $401,654,868. The center is located in Unincorporated Pinellas County although the cities of Largo and Seminole are nearby. Both cities are popular among young families who enjoy good schools and a Florida lifestyle that is just minutes from our award-winning beaches. DO NOT DISTURB TENANTS. Call listing agent for more information.