Shopping Strip
Beachside Retail Portfolio
19705 Gulf Blvd, Indian Shores, FL 33785
Listing Price: $5,630,000
Investment Overview
Marcus & Millichap has been selected to exclusively market for sale this portfolio of beachside retail properties in Pinellas County (Tampa Bay MSA), Florida. Built between 1973 and 1977, and with a total 17,908 square-feet of retail space, this portfolio is strategically located along Gulf Boulevard and only steps from the white sand beaches. A majority of the existing tenants have been in business at this location for a decade or longer, providing a track-record of successful business operations. 19705 - 19709 GULF BLVD is located in Indian Shores, a quaint beachside community with high-income residents and steady vacation rentals. This property consists of two buildings with approximately 170 linear feet of frontage on Gulf Blvd. The property is 100% occupied by long-term tenants and presents new ownership with in-place, stable cash flow. A new roof was added to both buildings within the last few years and the buildings were recently painted which will ensure a low maintenance, low cost investment for the next owner. 18115 GULF BLVD is located in Redington Shores, a popular destination for locals and tourists to enjoy a day at the beach. Anchored by 7 Eleven for more than 45 years, and a long-term history of full occupancy, this shopping center has proven to provide consistent cash flow. With 7 Eleven responsible for all regular maintenance, repairs and their portion of the Real Estate Taxes. For this reason, the new owner will enjoy low expenses and minimal management responsibility.
Beachside Retail Portfolio
Investment Highlights
- RARE OPPORTUNITY TO PURCHASE SIZEABLE RETAIL PORTFOLIO ON A BARRIER ISLAND. BOTH PROPERTIES HAVE BEEN UNDER THE EXISTING OWNERSHIP FOR ALMOST 45 YEARS
- LONG-TERM, STABLE OCCUPANCY HISTORY - 100 PERCENT OCCUPIED BY ESTABLISHED, SERVICE AND HOSPITALITY BASED TENANTS
- HIGH RESIDUAL LAND VALUE - UPSIDE AVAILABLE THROUGH FUTURE RE-DEVELOPMENT OPPORTUNITIES INCLUDING MULTI FAMILY, HOSPOITALITY, RESIDENTIAL
- LOW MANAGEMENT RESPONSIBLITY - RECENT CAPITAL EXPENDITURES INCLUDING NEW ROOFS AND EXTERIOR BUILDING UPGRADES ON INDIAN SHORES BUILDINGS WILL ENSURE HASSLE FREE MAINTENANCE FOR NEW OWNER
- LONG-TERM TENANTS HAVE BELOW MARKET RENTS ALLOWING A NEW OWNER TO INCREASE RENTS TO MARKET RATE YIELDING AN ABOVE MARKET RETURN
- THE REDINGTON SHORES PROPERTY INCLUDES A CORPORATELY OPERATED 7 ELEVEN WITH 45+ YEAR OPERATING HISTORY. 7 ELEVEN IS RESPONSBLE FOR ALL MAINTENANCE AND REPAIRS TO THEIR PROPERTY
Exclusively Listed By
Financing By
Listing Price: $5,630,000
Investment Highlights
- RARE OPPORTUNITY TO PURCHASE SIZEABLE RETAIL PORTFOLIO ON A BARRIER ISLAND. BOTH PROPERTIES HAVE BEEN UNDER THE EXISTING OWNERSHIP FOR ALMOST 45 YEARS
- LONG-TERM, STABLE OCCUPANCY HISTORY - 100 PERCENT OCCUPIED BY ESTABLISHED, SERVICE AND HOSPITALITY BASED TENANTS
- HIGH RESIDUAL LAND VALUE - UPSIDE AVAILABLE THROUGH FUTURE RE-DEVELOPMENT OPPORTUNITIES INCLUDING MULTI FAMILY, HOSPOITALITY, RESIDENTIAL
- LOW MANAGEMENT RESPONSIBLITY - RECENT CAPITAL EXPENDITURES INCLUDING NEW ROOFS AND EXTERIOR BUILDING UPGRADES ON INDIAN SHORES BUILDINGS WILL ENSURE HASSLE FREE MAINTENANCE FOR NEW OWNER
- LONG-TERM TENANTS HAVE BELOW MARKET RENTS ALLOWING A NEW OWNER TO INCREASE RENTS TO MARKET RATE YIELDING AN ABOVE MARKET RETURN
- THE REDINGTON SHORES PROPERTY INCLUDES A CORPORATELY OPERATED 7 ELEVEN WITH 45+ YEAR OPERATING HISTORY. 7 ELEVEN IS RESPONSBLE FOR ALL MAINTENANCE AND REPAIRS TO THEIR PROPERTY
Investment Overview
Marcus & Millichap has been selected to exclusively market for sale this portfolio of beachside retail properties in Pinellas County (Tampa Bay MSA), Florida. Built between 1973 and 1977, and with a total 17,908 square-feet of retail space, this portfolio is strategically located along Gulf Boulevard and only steps from the white sand beaches. A majority of the existing tenants have been in business at this location for a decade or longer, providing a track-record of successful business operations. 19705 - 19709 GULF BLVD is located in Indian Shores, a quaint beachside community with high-income residents and steady vacation rentals. This property consists of two buildings with approximately 170 linear feet of frontage on Gulf Blvd. The property is 100% occupied by long-term tenants and presents new ownership with in-place, stable cash flow. A new roof was added to both buildings within the last few years and the buildings were recently painted which will ensure a low maintenance, low cost investment for the next owner. 18115 GULF BLVD is located in Redington Shores, a popular destination for locals and tourists to enjoy a day at the beach. Anchored by 7 Eleven for more than 45 years, and a long-term history of full occupancy, this shopping center has proven to provide consistent cash flow. With 7 Eleven responsible for all regular maintenance, repairs and their portion of the Real Estate Taxes. For this reason, the new owner will enjoy low expenses and minimal management responsibility.
Exclusively Listed By
Financing By
