The Shoppes at Tarpon Springs
Closed40545 US Highway 19 N , Tarpon Springs, FL 34689
Property type
Retail
Building size
16,456 SF
Year built
2018
Lot size
2.27 acres
Sold/status
Sold · Date unknown
Sale price
$7450000
Property description
Franklin Street is pleased to present Tarpon Springs Retail in Tarpon Springs, Florida. Built in 2018, this multi-tenant strip center is 89.38% occupied with NNN leases in place. Located just off a high traffic corridor, US HWY 19, the subject property is within close proximity to a Publix anchored shopping center, Walmart Supercenter, Lowe’s Home Improvement, and a variety of restaurants that drive traffic to the local market. The subject property has a desirable national and regional tenant lineup featuring TGH Urgent Care, Aspen Dental, Firehouse Subs, and Trulieve, all of which with attractive long-term leases. Moreover, the property has excellent visibility with 250 feet of frontage along US HWY 19 (78,000 AADT with 137,964 residents within a 5-mile radius). This strip center presents an excellent opportunity for an investor to take ownership of a strong income stream with true upside.
Property highlights
- New 2018 Construction with excellent visibility located on high traffic area off US Hwy 19
- Pinellas County is one of the most densely populated counties in Florida
- Strong national and regional tenant line up including TGH Urgent Care, Aspen Dental, Firehouse Subs, and Trulieve
- All leases are NNN with strong escalations
- Income Tax-Free State
- Average HH income exceeds $75k within a 5-mile radius
- Marketing efforts produced 20+ offers from a wide variety of Buyers
- Buyer was locally sourced and Closed in less than 60 days from Contract Execution