31425 Us Highway 19Palm Harbor, FL 34684

  • Retail properties
  • 2,488 SF
For Sale
$4,000,000 View listing

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
31425 Us Highway 19, Palm Harbor, Florida

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,065
-
-
$975,000
-
$452,604
$522,396
$975,000

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