1080 Keene RdDunedin, FL 34698

Property Details for 1080 Keene Rd

Year built

1998

Construction

CONCRETE BLOCKS

Lot size

1.10 AC

Property size (Sq ft)

4,380 SF

Property type

Banks

APN

26-28-15-00000-410-0120

APU

262815000004100120

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased retail property occupied by Bank of America. Located at 1080 Keene Rd, Dunedin, FL 34698, this 4,400 square foot building sits on a 1.1-acre lot and boasts 20 parking spaces. The property features a Class B building constructed in 1998, with a single story. The current lease, commenced July 23, 1997, has a remaining term of approximately 3.3 years, expiring February 29, 2028, with six 5-year renewal options. The tenant, Bank of America, is credit-rated, ensuring a secure investment. The property enjoys a 100% occupancy rate since July 23, 1998. The current Net Operating Income (NOI) is $143,000, with a pro-forma NOI of $150,150, resulting in a current cap rate of 5.50% and a pro-forma cap rate of 5.78%. The asking price is $2,600,000, translating to a price per square foot of $590.91. The lease includes 5% rent bumps. The property's strategic location near the intersection of Main Street and Keene Road, two high-traffic thoroughfares, provides excellent visibility and accessibility. This is a rare opportunity to acquire a well-established, stable investment with a strong tenant and significant upside potential. The Pinellas County property (APN: 26-28-15-00000-410-0120) offers a secure and profitable investment in a thriving Florida market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,463,011

  6.5%

  $1,350,472

  7%

  $1,254,009

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,217,226

  Geo Method

  $1,217,226

• Alternative Use

  Use

  Valuation

  Residential

  $1,139,173

  Hospitality

  $1,043,477

  Educational

  $868,160

  Medical

  $898,018

  Retail

  $1,350,472

Location Insight

City

Dunedin

County

Pinellas

State

Florida

Latitude

28.0184

Longitude

-82.7641

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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