31425 Us Highway 19Palm Harbor, FL 34684

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

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.

• 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

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