4501 66Th StKenneth City, FL 33709

Property Details for 4501 66Th St

Year built

1970

Construction

CONCRETE BLOCKS

Lot size

10.90 AC

Property size (Sq ft)

99,464 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

05-31-16-00000-320-0500

APU

53116000003200500

Description

This exceptional 97,399 square foot shopping center in Kenneth City, Florida, presents a compelling investment opportunity. Anchored by Sprouts (shadow), At Home, and Five Below, the center boasts strong foot traffic and a 10-year lease with contractual rent increases, ensuring stable cash flow. Located at 4501 66th St, St. Petersburg, FL 33709, the property benefits from excellent visibility on 66th Street N (42,000 vehicles per day) and convenient access to 46th Avenue N (5,900 vehicles per day). Serving a robust customer base of over 157,000 residents within a 10-minute drive, boasting an average annual household income exceeding $82,000, this asset offers significant upside. The recent complete redevelopment minimizes future capital expenditures. Its prime location, just four miles from Gulf beaches and minutes from downtown St. Petersburg, further enhances its appeal. The property's proximity to major sports teams (Tampa Bay Rays, Buccaneers, Lightning) and Florida's largest seaport contributes to the area's thriving economy. The asking price is $9,100,000, translating to $93.43 per square foot. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $28,503,748

  6.5%

  $26,311,152

  7%

  $24,431,784

• Comparable approach

  Method

  Valuation

  Relative Method

  $27,641,602

  Geo Method

  $27,641,602

• Alternative Use

  Use

  Valuation

  Residential

  $22,194,442

  Hospitality

  $20,329,988

  Educational

  $16,914,312

  Medical

  $17,496,022

  Retail

  $26,311,152

Location Insight

City

Kenneth City

County

Pinellas

State

Florida

Latitude

27.8127

Longitude

-82.7272

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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