|Gross Leasable Area (GLA)||9,056 Sq.Ft.|
|Price Per Square Foot (GLA)||$271|
|Lot Size||2.99 Acres|
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.
First Vice President Investments