351 W Bay Dr offers a stabilized retail investment with compelling value-add potential in the heart of Downtown Largo. The property consists of five suites, all fully leased, providing immediate cash flow. Recent capital improvements include a new roof (2024) and HVAC upgrades (2025), reducing near-term capital expenditures and enhancing long-term asset durability. Positioned along West Bay Drive with strong visibility, the plaza is surrounded by significant public and private investment, including the Horizon West Bay development and the new 110,000 SF Largo City Hall complex with retail and a 365-space parking garage. The walkable downtown environment—anchored by Largo Central Park and Ulmer Park—supports consistent foot traffic and tenant demand. Value-add opportunities include potential rent growth as the downtown corridor continues to mature, tenant repositioning, and long-term redevelopment or densification potential subject to zoning and city approvals. Proximity to major employers such as HCA Largo Medical Center and an expanding residential pipeline further supports income stability and future appreciation in one of Pinellas County’s most active growth markets.