|Gross Leasable Area (GLA)||60,010 Sq.Ft.|
|Price Per Square Foot (GLA)||$163|
|Lot Size||7.28 Acres|
Marcus & Millichap is pleased to present for sale this 60,010-square foot, two-tenant shopping center occupied by Sprouts Farmers Market and Office Depot. Sprouts Farmers Market recently signed a new 10-year triple net lease with four, 5-year options. Office Depot has been occupying the center for more than 10 years with five years remaining on the current lease term and four, 5-year option periods. Office Depot is currently paying substantially below market rent, creating stability in the current income stream and opportunity for future income growth for the next owner.
The center is ideally located in Palm Harbor, Florida (Tampa Bay MSA) at the hard corner of Nebraska Avenue and U.S. Highway 19. There are more than 82,000 cars per day traveling on U.S. Highway 19, and 16,600 cars per day traveling Nebraska Avenue which creates incredible visibility. Multiple points of ingress and egress exist allowing customers easy and convenient access. U.S. Highway 19 is the main north-south thoroughfare that travels along the entire west coast of Florida creating one of the busiest roadways in the Tampa Bay area.
An abundance of national retailers immediately surround Sprouts and Office Depot including Publix, Walgreens, Stein Mart, Michael’s, Chipotle, Ferrari of Tampa Bay, Chipotle, Bank of America, Verizon, Carrabbas, and many more.
Palm Harbor is a dense suburban community in central Pinellas County. There are more than 81,316 people within a three-mile radius of this property with an average household income of $83,438 per year. Palm Harbor is home to a large number of middle-upper income families and large retirement communities who strive for convenient access to the cities of St Petersburg and Tampa, the area beaches, and major attractions.