28801 Us Highway 19Clearwater, FL 33761

Property Details for 28801 Us Highway 19

Year built

1982

Construction

CONCRETE BLOCKS

Lot size

2.61 AC

Property size (Sq ft)

11,840 SF

Property type

Retail properties

Property subtype

Strip malls

APN

19-28-16-00000-130-0400

APU

192816000001300400

Description

This exceptional Clearwater, Florida shopping center presents a compelling investment opportunity. Boasting 35,520 square feet of retail space, the multi-tenant property enjoys a remarkable 96% occupancy rate, generating a strong net operating income (NOI) of $461,350 and a 7.30% capitalization rate. The asking price is $6,319,860, translating to an attractive price per square foot of $177.92. Situated on US Hwy 19 N, the property benefits from over 900 feet of frontage and high daily traffic exceeding 75,000 vehicles. Ample parking is provided, with a ratio of 3.9 spaces per 1,000 square feet. The property's strong performance is further enhanced by recent improvements, including a 2024 resurfacing of the parking lot. The seller is offering a one-year master lease to support the new owner in leasing any vacant space, ensuring immediate income and minimizing transition risks. Located in Pinellas County, this stabilized shopping center represents a rare opportunity to acquire a high-performing asset in a desirable Tampa Bay area location. This property offers significant potential for long-term value appreciation and consistent cash flow. The property's address is 28801 US Hwy 19 N, Clearwater, FL 33761.

• CAP approach

  CAP return

  Valuation

  6%

  $3,609,674

  6.5%

  $3,332,007

  7%

  $3,094,007

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,290,402

  Geo Method

  $3,290,402

• Alternative Use

  Use

  Valuation

  Residential

  $2,810,673

  Hospitality

  $2,574,561

  Educational

  $2,142,004

  Medical

  $2,215,672

  Retail

  $3,332,007

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

28.0353

Longitude

-82.7376

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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