35104 US HWY 19 N Palm Harbor FL 34683-1929

StripCenters.com is pleased to present Alderman Plaza, a ±93,400 SF neighborhood shopping center located at a prime signalized intersection in Palm Harbor, Florida. Anchored by Crunch Fitness and positioned alongside national powerhouses Walmart and Publix, the center features a diversified tenant mix including First Watch, Salon Plex, and Uncorked Wine Bar. The offering is priced at $33,550,000, with projected 2026 net operating income projected to exceed $2.39 million ,providing investors with stable income and long-term upside.

This irreplaceable real estate has been held by the same ownership for over 30 years, presenting a rare opportunity to acquire a generational asset in one of Florida’s most desirable retail corridors. Located just 19 miles from Tampa and 22 miles from St. Petersburg, Alderman Plaza benefits from direct access to the Tampa–St. Petersburg–Clearwater MSA, the 17th-largest metro in the U.S., which ranked 4th nationally in population growth between 2022 and 2023 with more than 51,000 new residents added.

Additionally, the property lies just minutes from the renowned Innisbrook Resort, a year-round draw for high-income tourists and seasonal residents, further enhancing the center’s visibility and demand. With its exceptional location, strong tenancy, and multi-decade ownership history, Alderman Plaza offers an investor the opportunity to acquire a well-performing asset positioned for durable cash flow and long-term value creation in a high-growth market..

Investment Highlights

• Anchored by Crunch Fitness (15-Year Lease)
  Flagship location for CR Fitness Holdings, the largest Crunch franchisee (86+ gyms) backed by private-equity sponsor North Castle Partners.

• Strong Tenant Mix & Service Orientation
  Features nationally recognized and daily-needs retailers including First Watch, Verizon, Salon Plex, Optimart, Latin Bowl, and other essential service tenants catering to the surrounding community.

• Consistent Rent Growth
  16 of 22 tenants have annual rent increases, supporting predictable NOI growth and inflation-hedged income.

• Prime, High-Traffic Location
  Located at the signalized intersection of U.S. Highway 19 & Alderman Road (±94,000 vehicles per day) — one of the region’s most visible and established retail corridors.

• Affluent, Dense Trade Area
  Within a 3-mile radius, the population exceeds 64,000 residents with an average household income of over $120,000, supporting long-term retail demand.

• Surrounded by Major Retail Drivers
  Shares intersection with Publix, Walmart, Trader Joe’s, Chick-fil-A, and Fifth Third Bank, ensuring sustained customer traffic and market relevance.