For Sale
$1,800,000

1200 Myrtle AveClearwater, FL 33755

High-Yield Clearwater Convenience Store

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a single-story, 8,320-square-foot Family Dollar convenience store situated on a 0.56-acre lot in Clearwater, Florida. Built in 2014, the property boasts an absolute NNN lease with zero landlord responsibilities, offering a secure and passive income stream. The lease has 5.7 years remaining, with CPI rental increases implemented every three years, ensuring consistent growth. Located in a prime submarket of Tampa, a thriving area recognized as the #1 place to live in Florida by Forbes Magazine, the property benefits from a dense population exceeding 152,667 within a 3-mile radius. The average household income in the immediate area is $58,637. The property offers an attractive 8.05% cap rate and is priced at $1,800,000. Family Dollar, a Fortune 500 company with a BBB credit rating from S&P Investments, provides a strong and stable tenant. Tampa's robust growth rate of 1.25% annually further enhances the long-term value of this investment. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset in a desirable location.

Highlights

  • Dollar Tree/Family Dollar (NYSE: DLTR), a Fortune 500 company with a BBB S&P credit rating, is the tenant.
  • Rent increases every three years based on the Consumer Price Index (CPI).
  • High-density population: Over 152,667 people within a 3-mile radius.
  • Prime Tampa, FL location; Forbes ranked Tampa #1 place to live in Florida.
  • Tampa is Florida's 3rd largest city, experiencing 1.25% annual growth.
  • Average household income in the immediate area is $58,637.

Property Details for 1200 Myrtle Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
8,320 SF
Year Built
2014
Buildings
1
Stories
1
Lot Size (sq. ft)
24,394 SF

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.9779902
Longitude
-82.7962566
1200 Myrtle Ave, Clearwater, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1200 Myrtle Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message