5501 Roosevelt BlvdClearwater, FL 33760

Property Details for 5501 Roosevelt Blvd

Year built

1988

Property size (Sq ft)

17,891 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Clearwater, Florida shopping center presents a compelling investment opportunity. The property, located at 5501-5555 Roosevelt Blvd, boasts 17,891 square feet across two single-story buildings, constructed in 1988 and renovated in 2019. The center features five tenants, including a thriving MÜV Cannabis Dispensary, one of Florida's leading medical cannabis providers. A significant 2,173 square foot end-cap space offers substantial upside potential, potentially suitable for a restaurant or bar, given its outdoor area. The property benefits from a prime location in Pinellas County, directly across from Bay Vista Business Park, home to TD Synnex Corporation's global headquarters. Ample parking (109 spaces) and high visibility on Roosevelt Boulevard enhance its appeal. The property's strong financial performance is reflected in its $3,950,000 asking price, a 6.72% cap rate, and a net operating income (NOI) of $265,545. The property is zoned CG and includes rent bumps. This NNN-leased multi-tenant property offers a solid return on investment with potential for future growth. The property's APN is 33-29-16-70380-200-1101.

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9165

Longitude

-82.71

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