West Bay Village
100% Occupied 5-Tenant Asset | Approved for Up to 16 Residential Units | Prime Downtown Largo
Marketing description
351 W Bay Dr presents a fully occupied, stabilized retail asset in the heart of Downtown Largo. The property consists of five leased suites with a diversified tenant mix, delivering immediate in-place cash flow. Recent capital improvements enhance the asset’s condition and reduce near-term capital needs, including a full silicone roof restoration completed in 2024 and all HVAC replacements within the past two years.
Strategically positioned along West Bay Drive, the property offers strong frontage, visibility, and accessibility within Largo’s walkable downtown corridor. The plaza is surrounded by significant public and private investment, including the Horizon West Bay development and the new Largo City Hall complex featuring ground-floor retail and a 365-space public parking garage. Nearby anchors such as Largo Central Park and Ulmer Park drive consistent foot traffic to the area.
With proximity to major employment centers including HCA Largo Medical Center and continued residential growth throughout the submarket, 351 W Bay Dr is well-positioned to benefit from the ongoing evolution of Downtown Largo.
Investment highlights
- Fully occupied retail property with 5 tenants with a 7% CAP Rate.
- In the heart of Downtown Largo across from Largo City Hall
- Approval from Pinellas County Planning & Zoning for potential addition of up to 16 residential units (buyer to verify zoning and entitlements)
- 2024 full silicone roof restoration with 10 year warranty. (~$34,000 investment)
- All New HVAC units (Replaced within the past two years)
- Stabilized, income-producing asset with diversified tenant mix
- Immediate in-place cash flow
- Reduced near-term capital expenditure exposure
- Mixed-use vertical redevelopment potential
- Prime frontage along West Bay Drive in Downtown Largo
- Located near Horizon West Bay development
- Adjacent to new Largo City Hall (110,000± SF with ground-floor retail & 365-space public parking garage)
- Walkable environment near Largo Central Park and Ulmer Park
- Close proximity to HCA Florida Largo Hospital
- Positioned in one of Pinellas County’s emerging urban nodes
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