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Largo Retail, Largo, FL

Largo Retail

Largo, FL

Price $3,596,000
Cap Rate 6.50%
NOI $233,684
Lease Term Various
Lease Type Contact For Details
Rental Increases Various
Year Built RENOVATED: 2019 (New Roof, HVAC, Windows, Electrical, and Plumbing) & 2020 (Parking lot resurfaced)
Building Size 13,334 SF
Lot Size 2.02 Acres (87,991 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

MULTI-TENANT RETAIL ASSET WITH AMAZON-PROOF RETAILERS
» Multi-tenant retail asset leased to a strong mix of national, regional, and local tenants
» Multi-tenant center allows for investment diversification
» Location features a proposed single-story addition and proposed building with a drive-thru
» Anytime Fitness is the fastest-growing gym franchise in the world, averaging 300 new gyms per year
» Anytime Fitness serves 4.2 million members at more than 4,800 gyms and is the only franchise of any kind to have locations on all seven continents
» Ideal location in an income tax-free state
» New roof, HVAC, windows, electrical, and plumbing were completed in 2019 with the parking lot resurfaced in 2020

INFILL LOCATION WITH STRONG MALL SHADOW-ANCHOR
» High-traffic location at the signalized intersection of Seminole Boulevard and Lark Drive (36,500+ AADT)
» Convenient access to Ulmerton Road, a major east-west Largo thoroughfare connecting Tampa Bay to the Gulf of Mexico (60,000 AADT)
» Shadow-anchored by Largo Mall, a 613,000-SF shopping center with 70+ stores
» Surrounded by notable tenants such as Target, The Home Depot, Lowe’s Home Improvement, Publix, Chick-fil-A, McDonald’s, and many more
» Five miles from the Gulf of Mexico and Indian Rocks Beach (4,286 population)

DENSELY POPULATED AREA WITH EXCELLENT LARGO DEMOGRAPHICS
» 255,409 residents live within five miles of the property, establishing a reliable customer base
» Average annual household income of $91,183 within a five-mile radius of the site, with a projected increase of 19% over the next five years
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising Largo Retail for steady growth
» Located between Tampa, St. Petersburg, and Clearwater, attracting significant commuter traffic to the site
» Largo is the third largest city in Pinellas County as well as the fourth largest in the Tampa Bay area (population 84,666)


Property Description

» The property is conveniently located at the signalized intersection of Seminole Boulevard and Lark Drive, with excellent visibility and access to 36,500+ vehicles per day
» The site features convenient access to Ulmerton Road, a major east-west Largo thoroughfare connecting Tampa Bay to the Gulf of Mexico (60,000 AADT)
» This multi-tenant asset is shadow-anchored by Largo Mall, a 613,000-SF shopping center with 70+ stores
» Located in a dense retail corridor, the property is surrounded by notable tenants such as Target, The Home Depot, Lowe’s Home Improvement, Publix, Chick-fil-A, McDonald’s, and many more
» 255,409 residents live within five miles of the property, creating a large and consistent customer base for the site
» The site greatly benefits from its location between Tampa, St. Petersburg, and Clearwater, attracting significant commuter traffic to the site
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years poise Largo Retail for steady growth

Contact Us About This Property

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