For Sale
$5,775,000

2683 Roosevelt BlvdLargo, FL 33760

Largo, FL Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A, 12,250 square foot shopping center in Clearwater, Florida presents a compelling investment opportunity. Boasting a 100% occupancy rate with seven tenants, this stabilized property generates a strong NOI of $378,921, representing a 6.55% cap rate at an asking price of $5,775,000 ($471.43/SF). Built in 2005 on a 2.6-acre lot, the single-story building benefits from a prime location on Roosevelt Boulevard in Largo, experiencing high traffic volume exceeding 40,000 vehicles daily, and proximity to major retailers like Walmart, Publix, and more. The property features a weighted average lease term of 4.85 years, with all tenants on NNN leases, ensuring consistent income streams. Built-in rent bumps provide organic NOI growth, further enhancing the investment's long-term value. This multi-tenant retail center offers a secure and profitable investment with significant upside potential. The property's strong tenant base, favorable lease terms, and prime location make it an attractive acquisition for discerning investors seeking a stable, high-performing asset in a thriving market. The seven tenants have a history dating back to the early 2000s, demonstrating the property's enduring appeal and market strength. The average rental rate within the center is $29.7 per square foot.

Highlights

  • Prime Clearwater, FL location with high traffic counts exceeding 40,000 vehicles daily, plus proximity to US-19 (165,000 VPD).
  • Strong occupancy history with long-term tenants (weighted average lease term 4.85 years) and net leases covering taxes, insurance, CAM, and management.
  • Significant organic NOI growth potential due to annual rent increases in current and option periods; average rental rate $29.7/SF.

Property Details for 2683 Roosevelt Blvd

Property type
Lifestyle centers, Power centers
Square Feet
12,250 SF
Class
A
Year Built
2005
Buildings
1
Stories
1
Lot Size (sq. ft)
113,256 SF
Units
7

Location Insight

City
Largo
County
Pinellas
State
Florida
Latitude
27.916176443573
Longitude
-82.725889257105
2683 Roosevelt Blvd, Largo, Florida

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2683 Roosevelt Blvd
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