1200 Myrtle AveClearwater, FL 33755

Property Details for 1200 Myrtle Ave

Year built

2014

Construction

FRAME

Lot size

0.56 AC

Property size (Sq ft)

8,320 SF

Property type

Retail space

APN

09-29-15-25920-000-0330

APU

92915259200000330

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,779,053

  6.5%

  $2,565,279

  7%

  $2,382,045

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,312,174

  Geo Method

  $2,312,174

• Alternative Use

  Use

  Valuation

  Residential

  $2,163,909

  Hospitality

  $1,982,129

  Educational

  $1,649,108

  Medical

  $1,705,824

  Retail

  $2,565,279

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9778

Longitude

-82.7963

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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