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Shopping Strip

Leader's-Anchored Retail Plaza

30950 US Hwy 19 N, Palm Harbor, FL 34684

Listing Price: $3,600,000

Cap Rate
6.95%
Gross SF
14,147
Rentable SF
14,147
Price/Gross SF
$254.47
Lot Size
1.03 acres
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to bring to market Leader's-Anchored Retail Plaza located at 30950 US Highway 19 N, Palm Harbor, FL 34684.

Investment Highlights

  • 100% Occupied Retail Plaza Consisting of 14,147-SF on a ±1.03-AC Lot
  • Anchor Tenant Stability: Leader's Furniture, the anchor tenant since 1985, recently renewed their lease for an additional five years, demonstrating a long-term commitment to the location.
  • Strong Lease Structure: All tenants are on triple-net (NNN) leases, covering 100% of taxes, insurance, and common area maintenance (CAM).
  • Upside Potential: Current rents average $19.44/SF, well below the market average of $26.11/SF, providing significant potential for future rent adjustments.
  • High Visibility & Traffic Exposure: Positioned along US-19, the area's most heavily trafficked roadway, with over 80,000 vehicles passing daily.
  • Major Infrastructure Improvements: Located within the $242.6 million US-19 roadway improvement project, designed to enhance traffic flow, access and safety along the corridor.
  • Central Location: Within a 30-minute drive to Tampa, St. Petersburg, and Clearwater, offering convenient access to major economic hubs.
  • Strong Demographics: Dense population of approximately 197,000 residents within a 5-mile radius, with an average household income exceeding $92,000.

Exclusively Listed By

Financing By

Shopping Strip

Leader's-Anchored Retail Plaza

Listing Price: $3,600,000

Cap Rate
6.95%
Gross SF
14,147
Rentable SF
14,147
Price/Gross SF
$254.47
Lot Size
1.03 acres
Year Built
1985

Investment Highlights

  • 100% Occupied Retail Plaza Consisting of 14,147-SF on a ±1.03-AC Lot
  • Anchor Tenant Stability: Leader's Furniture, the anchor tenant since 1985, recently renewed their lease for an additional five years, demonstrating a long-term commitment to the location.
  • Strong Lease Structure: All tenants are on triple-net (NNN) leases, covering 100% of taxes, insurance, and common area maintenance (CAM).
  • Upside Potential: Current rents average $19.44/SF, well below the market average of $26.11/SF, providing significant potential for future rent adjustments.
  • High Visibility & Traffic Exposure: Positioned along US-19, the area's most heavily trafficked roadway, with over 80,000 vehicles passing daily.
  • Major Infrastructure Improvements: Located within the $242.6 million US-19 roadway improvement project, designed to enhance traffic flow, access and safety along the corridor.
  • Central Location: Within a 30-minute drive to Tampa, St. Petersburg, and Clearwater, offering convenient access to major economic hubs.
  • Strong Demographics: Dense population of approximately 197,000 residents within a 5-mile radius, with an average household income exceeding $92,000.

Investment Overview

Marcus & Millichap is pleased to bring to market Leader's-Anchored Retail Plaza located at 30950 US Highway 19 N, Palm Harbor, FL 34684.

Exclusively Listed By

Financing By

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