103 Indian Rocks RdBelleair Bluffs, FL 33770

Property Details for 103 Indian Rocks Rd

Year built

2003

Construction

CONCRETE BLOCKS

Lot size

0.58 AC

Property size (Sq ft)

15,100 SF

Property type

Retail properties

Property subtype

Retail space

APN

32-29-15-55350-011-0050

APU

322915553500110050

Description

This exceptional investment opportunity presents a fee-simple, 14,490 square foot Walgreens located at 103 Indian Rocks Rd, Belleair Bluffs, FL 33770. The property boasts a prime location in the Tampa MSA, situated at a signalized intersection with high daily traffic volume (over 31,500 vehicles). Walgreens, a credit-rated tenant, occupies the entire building under an absolute NNN lease with a remaining term of approximately 3.8 years, expiring August 30, 2028, with renewal options. The lease commenced August 31, 2003, demonstrating a long-standing and successful tenancy. The property features 54 parking spaces and sits on a 1.68-acre lot. Built in 2003, this single-story building offers a strong net operating income (NOI) of $492,000, resulting in a 6.00% cap rate. The asking price is $8,200,000. This is a rare chance to acquire a fully occupied, low-maintenance retail property with significant upside potential in a high-demand area, offering investors a stable cash flow and minimal landlord responsibilities. The average household income within a 3-mile radius is $93,120. The property is zoned commercial and has a Pinellas County APN of 32-29-15-55350-011-0050. This is a truly exceptional opportunity for discerning investors seeking a secure and profitable addition to their portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $4,327,260

  6.5%

  $3,994,394

  7%

  $3,709,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,196,374

  Geo Method

  $4,196,374

• Alternative Use

  Use

  Valuation

  Residential

  $3,369,421

  Hospitality

  $3,086,371

  Educational

  $2,567,825

  Medical

  $2,656,136

  Retail

  $3,994,394

Location Insight

City

Belleair Bluffs

County

Pinellas

State

Florida

Latitude

27.9158

Longitude

-82.8171

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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