Listed by Mercier Commercial
$1,300,000
Drew Street Strip Mall
Details
APN 14-29-15-82404-003-0010
Property Type Retail
Sub Type Storefront
Square Footage 7,200
Net Rentable (SqFt) 1,500
Units 5
Cap Rate 6.92%
NOI $90,000
Occupancy 100%
Lease Type Modified
Price per SqFt $181
Broker Co-Op Yes
Class C
Year Built 1974
Year Renovated 2008
Stories 5
Acreage 0.490
Zoning Commercial
Investment Type Net Lease
Sale Condition For sale by owner
Retail | 6.92% CAP | 7,200 SqFt
Marketing description
This is a prime opportunity to get into a great signalized street corner, 5 unit strip mall.
Rent is around $3 under market on 4 of the units and has plenty of room for growth on new leases.
all tenants have been in the plaza for over 3 years with the longest almost 18yrs.
Projected NOI $100,000+ with new leases
Great location in the heart of Clearwater, FL
Tenants
unit 1 Hair salon
unit 2 Mexican market/Deli/Restaurant
unit 3 Barber
unit 4 Nutrition store
unit 5 smoke shop but will be vacant soon.
Investment highlights
- Signalized corner
- New Sign
- Established Tenants
- Busy intersection
- leases are ready to be renewed for market rate
- New Roof 2021
Listing Contacts
Listed by Mercier Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,000.00
$7,500.00/mo
Valuation Metrics
0
DSCR
6.92%
Cap Rate
6.92%
ROI
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