Palm Harbor Commons

Palm Harbor Commons

Palm Harbor Commons
33470 U.S. Highway 19 N.
Palm Harbor, FL 34684

$2,450,000

Cap Rate 8.44%
Gross Leasable Area (GLA) 9,056 Sq.Ft.
Price Per Square Foot (GLA) $271
Year Built 1999
Lot Size 2.99 Acres
  • Stabilized Asset with Long History of 100 Percent Occupancy
  • Average Daily Traffic Count of More Than 82,000 Vehicles
  • Approximate Population Count of 171,000 in a Five Mile Radius
  • Ideally Located on Major Retail Corridor with Surrounding National Retailers and Restaurants
  • Triple-Net Leases in Place – Low Management Responsibilities
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Palm Harbor Commons (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to offer for sale Palm Harbor Commons, a stabilized shopping center located in Palm Harbor, Florida.

The subject property is a 9,056-square foot shopping center built in 1999. The property is currently 100 percent occupied by an attractive tenant mix, including the anchor tenant Vitamin Shoppe. The plaza is ideally located on U.S. Highway 19, just north of Clearwater and 20 miles west of downtown Tampa.

Palm Harbor Commons offers investors an opportunity to acquire a low management, stabilized asset that is free and clear of existing debt. By taking advantage of today’s attractive financing options the next owner will achieve a cash-on-cash return of nearly 12.57 percent.

The city of Palm Harbor is largely a residential community with easy access to major attractions and areas of commerce. U.S. Highway 19 is a major retail corridor featuring an abundance of national chain restaurants and retailers and provides access to FL-580 (Veteran’s Expressway), Route 60 and Interstate 275. The average household income within a three mile radius of Palm Harbor Commons is over $80,000 per year compared to the national average of approximately $52,000 per year.

 

For More Information, Please Contact:

James Medefind

First Vice President Investments
813-387-4788
james.medefind@marcusmillichap.com