20 Morgan StTarpon Springs, FL 34689

Property Details for 20 Morgan St

Year built

1959

Construction

CONCRETE BLOCKS

Lot size

0.43 AC

Property size (Sq ft)

2,071 SF

Property type

Individual retail properties

APN

13-27-15-89946-010-0240

APU

132715899460100240

Description

This exceptional investment opportunity encompasses three contiguous parcels totaling approximately 1.43 acres (62,486 sq ft) in the thriving Tarpon Springs, Florida market. Located just off Alternate 19/S Pinellas Avenue, this property benefits from high foot and vehicle traffic, situated minutes from the vibrant downtown area. The combined parcels offer significant development potential, with city zoning allowing for up to 15 units per acre. Permitted uses include townhomes, with apartments achievable through conditional use permits. The individual parcels present diverse opportunities: one features a single-family home on a half-acre lot, while the remaining two are vacant commercial lots. All parcels fall under the South Pinellas Avenue Character District and adhere to Tarpon Springs City Smart Codes. The property's strategic location capitalizes on the area's rapid growth and influx of residents seeking more affordable living options compared to nearby Tampa and Clearwater. Detailed parcel information is available upon request, including specific square footages and property use codes. This is a rare chance to acquire a substantial land holding in a prime location poised for significant appreciation. The asking price for the entire assemblage is $1,650,000.

• CAP approach

  CAP return

  Valuation

  6%

  $631,388

  6.5%

  $582,820

  7%

  $541,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $575,542

  Geo Method

  $575,542

• Alternative Use

  Use

  Valuation

  Residential

  $491,630

  Hospitality

  $450,331

  Educational

  $374,670

  Medical

  $387,555

  Retail

  $582,820

Location Insight

City

Tarpon Springs

County

Pinellas

State

Florida

Latitude

28.1407

Longitude

-82.7574

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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