31425 Us Highway 19Palm Harbor, FL 34684
- Retail properties
- 2,488 SF
Property Details for 31425 Us Highway 19
- Year built
- 1988
- Construction
- CONCRETE BLOCKS
- Lot size
- 1.00 AC
- Property size (Sq ft)
- 2,488 SF
- Property type
- Retail properties
- Property subtype
- Other car washes
- APN
- 07-28-16-00000-430-0800
- APU
- 72816000004300800
Description
This exceptional investment opportunity presents a vacant, mixed-use property encompassing a car wash and auto shop at 31425 US Hwy 19 N in Palm Harbor, Florida. The property, situated on one acre of land (APN: 072816000004300800), boasts a total of 2,488 square feet across three single-story buildings, built in 1988 and zoned CP-1. The property's strategic location at the highly trafficked intersection of US Highway 19 N and Bilgore Grove Boulevard N ensures significant visibility, with over 74,000 cars passing daily. The surrounding area is densely populated, with over 192,000 residents within a five-mile radius, exhibiting an average household income exceeding $85,000 annually. Previously generating over $1,700,000 in gross sales, this property offers substantial income potential. The asking price is $4,000,000, representing a 7.69% cap rate and a net operating income (NOI) of $307,758. The property is currently vacant, presenting a unique chance for owner-users to establish or expand their business within a thriving market. This is a rare opportunity to acquire a high-performing asset in a prime location with significant growth potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $758,519
- 6.5%
- $700,172
- 7%
- $650,160
-
Comparable approach
- Method
- Valuation
- Relative Method
- $691,429
- Geo Method
- $691,429
-
Alternative Use
- Use
- Valuation
- Residential
- $590,621
- Hospitality
- $541,006
- Educational
- $450,110
- Medical
- $465,590
- Retail
- $700,172
Location Insight
- City
- Palm Harbor
- County
- Pinellas
- State
- Florida
- Latitude
- 28.058
- Longitude
- -82.7381
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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