Active

$2,400,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 27600 sq ft
Overview
  • ID: MFROM720955
  • Bedrooms:
  • Bathrooms: 0
  • Size: 27600 sq ft
Property Details
Remarks
South Square is a prime neighborhood shopping center and storage facility featuring 15 retail units (17 with splitting) and 52 storage units situated on approximately 2.36 acres of prime commercial property with over 400 feet of frontage along US-19/98 (±32,000 AADT) within the Tampa–St. Petersburg MSA, the 18th largest metropolitan area in the United States. This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream. With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income by more than 23%, achieving an estimated 6.79% stabilized cap rate, while maintaining minimal vacancy in the storage component.
Financial Considerations
Price:
$2,400,000
HOA Fee:
N/A
Tax Amount:
$24200.9
Price per SqFt:
$86.96
Tax Legal Description:
N 550 FT OF E1/2 OF E1/2 OF NW1/4 OF NW1/4 SEC 34-18-17 W OF W R/W OF US HWY 19 LESS N 150 FT DESC IN OR BK 856 PG 500 OR BK 2237 PG 1510 AND CROSS ACCESS EASE AGREE WITH PCL 44100 DESCR IN OR BK 2261 PG 2274 OR BK 2380 PG 268 OR BK 2452 PG 664
Exterior Features
Lot Size:
102652
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
Over 30 Spaces
Roof:
Concrete
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
N/A
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
Ceramic Tile, Concrete, Laminate
Levels:
N/A
Additional Features
Property Sub Type:
Retail
Style:
N/A
Year Built:
1984
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    940 N SUNCOAST BLVD
Contact a Professional
Why Choose Us?
  • Communication and Transparency
  • Skilled Negotiation
  • Robust Professional Network
  • After-Sale Support
Featured Properties

Related Properties

avt
Daniel Dourado
$ 450,000
avt
Daniel Dourado
$ 2,250,000
avt
Daniel Dourado
$ 3,950,000
img
  • Featured
  • Active
Retail

9594 SE MARICAMP RD

  • 0
  • 531 m²
avt
Daniel Dourado
$ 1,100,000
img
  • Featured
  • Active
Retail

14451 W NEWBERRY RD

  • 0
  • 778 m²
avt
Daniel Dourado
$ 3,379,000
img
  • Featured
  • Active
Retail

2008 US HIGHWAY 19

  • 0
  • 440 m²
avt
Daniel Dourado
$ 895,000
img
  • Featured
  • Active
Retail

506 COMMONWEALTH AVE SW

  • 0
  • 141 m²
avt
Daniel Dourado
$ 250,000
img
  • Featured
  • Active
Retail

531 N US HIGHWAY 17 92

  • 0
  • 321 m²
avt
Daniel Dourado
$ 1,599,900
img
  • Featured
  • Active
Retail

8390 S US HWY 17-92 HWY

  • 0
  • 0 m²
avt
Daniel Dourado
$ 649,900
avt
Daniel Dourado
$ 399,000
avt
Daniel Dourado
$ 1,695,000
img
  • Featured
  • Active
Retail

2001 E FOWLER AVE #A

  • 0
  • 3182 m²
avt
Daniel Dourado
$ 344,400