Listed by Marcus & Millichap
$5,000,000
Windward Plaza
Details
APN 08-29-15-00000-130-0400
Property Type Retail
Sub Type Shopping Center
Square Footage 8,747
Units 7
Cap Rate 3.93%
NOI $196,532
Occupancy 100%
Tenancy Multi
Lease Type Gross
Pro-Forma Cap Rate 6.12%
Pro-Forma NOI $306,145
Price per SqFt $572
Year Built 1969
Year Renovated 2021
Buildings 1
Acreage 0.670
Zoning General Commercial
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Ownership Fee Simple
Clearwater Beach | Publix Shadow Center | 8,747 SqFt | Value Add Retail
Marketing description
Windward Plaza sits next to a strong-performing, corporately owned, Publix-anchored center, driving consistent cross-shopping traffic to the property. The center fronts Windward Passage near the signalized intersection with Island Way, which carries approximately 14,000 vehicles per day, with the Clearwater Causeway (36,500 VPD) just moments away. Windward Plaza is located on Island Estates in Clearwater, FL; a barrier island neighborhood minutes from Clearwater Beach with over 15 million annual visitors. The subject property is across the street from the Clearwater Marine Aquarium, and within close proximity to a dense concentration of resort hotels including the Hilton, Hyatt Regency, Wyndham Grand, JW Marriott, and Sandpearl Resort.
Investment highlights
- The center is 100% leased across 7 tenants with staggered lease expirations from 2027 through 2031, reducing rollover risk and providing an investor with opportunities to increase rents to market as individual leases expire.
- Windward Plaza has a gross average Rent/SF of $31.07, well below the market rents achievable in the Island Estates/Clearwater Beach corridor. All tenants are currently on gross leases, giving an investor the ability to restructure to NNN as leases turn over. Pro forma underwriting reflects potential Net Operating Income growth from $196,532 to $306,145, an increase of roughly $110,000.
- At ±0.67 acres within the tightly-held Island Estates community, Windward Plaza offers a rare opportunity to acquire retail real estate in a supply-constrained, highly affluent beach community with a median household income exceeding $114,000 within a 1-mile radius
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$196,532.00
$16,377.67/mo
Valuation Metrics
0
DSCR
3.93%
Cap Rate
3.93%
ROI
Map
Zoning
C CommercialGeneral CommercialCommercial
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View all 77 uses Last updated Jun 23, 2026 For deeper zoning details, reports are available at Zoneomics
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