1261 Fort Harrison AveClearwater, FL 33756

Property Details for 1261 Fort Harrison Ave

Year built

2000

Construction

FRAME

Lot size

0.35 AC

Property size (Sq ft)

3,600 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

21-29-15-34668-000-0010

APU

212915346680000010

Description

This exceptional investment opportunity presents a fully occupied, 4,268 square foot shopping center in Clearwater, Florida. Located on S Fort Harrison Ave, this Class B, single-story building boasts three units at 100% occupancy, each with a new build-out following a 2023 renovation. The property, built in 2000, sits on a 0.35-acre lot and includes 12 parking spaces. Tenants are on NNN leases with annual rent increases ranging from 3% to 4%, ensuring a stable and growing income stream. Recent improvements include new HVAC systems, stucco exterior, paint, electrical upgrades, and landscaping enhancements. The property benefits from a prime location near downtown Clearwater, Clearwater Beach, and the affluent Belleair neighborhoods, enjoying high visibility and traffic counts of approximately 16,100 vehicles daily. Proximity to major retailers like Publix, Starbucks, and Walgreens further enhances its appeal. The current gross income is $114,325.50, projected to reach $115,691.10 in June 2024 and $116,979.10 in October 2024. The Net Operating Income (NOI) is $92,563. This stabilized investment offers minimal landlord responsibilities and significant upside potential. The property is zoned CG and is offered at $2,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,031,665

  6.5%

  $952,306

  7%

  $884,284

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,000,460

  Geo Method

  $1,000,460

• Alternative Use

  Use

  Valuation

  Residential

  $803,306

  Hospitality

  $735,824

  Educational

  $612,197

  Medical

  $633,251

  Retail

  $952,306

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9509

Longitude

-82.7996

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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].