FOR SALE. GULF TO BAY RETAIL CENTER 1454 Gulf to Bay Blvd Clearwater, FL Clearwater CBD Submarket

Transcription

1 FOR SALE GULF TO BAY RETAIL CENTER 1454 Gulf to Bay Blvd Clearwater, FL Clearwater CBD Submarket Michael L. Johns, MBA Principal Designated Broker Single-Tenant Net Lease Advisor Investment Properties One Urban Centre at Westshore Tampa, FL National CRE Brokerage IRC 1031 Exchanges NNN Advisory Services

2 PROPERTY DESCRIPTION The 2-story structure boast 4600 leaseable sq. ft. on.62 Acres. The rectangle shaped building features two tenants on the ground level with a large 2 bedroom 2nd story apartment. BUILDING Type: Subtype: Center Type: Tenancy: Year Built: GLA: Floors: Typical Floor: Docks: Construction: Retail Storefront Retail Strip Center Multiple ,600 SF 2 2,300 SF None Masonry LAND Land Area: 0.14 AC PARCEL EXPENSES PER SF Taxes: $1.04 (2017) Opex: $1.70 (2016) TRAFFIC & FRONTAGE Traffic Volume: 11,109 on Gulf to Bay Blvd & San Juan Ct (2017) 36,500 on Court St & San Remo Ave S (2017) Frontage: 162 on Gulf to Bay 210 on San Remo Property Highlights Ease of Management Below Market Leases Recession Proof Tenants Dense Clearwater infill location Bite Size Mixed-Use Investment Excellent 1031 candidate

3 EXECUTIVE SUMMARY GSA Realty Advisors is pleased to present the Clearwater Retail Center, a mixed-use retail building comprised of 4600 gross leaseable square feet on.62 acre site. Conveniently located to the 60 causeway and the Hwy 590 which feeds into Clearwater Beach. The 3-tenant profile consist of Clearwater Bev & Deli, Clearwater Hardware and a 2nd story 2 bedroom apartment. TENANTS C-Store Tenant Globex, LLC, 10 year term, Sep 2016 to Aug 2026, 2400 or sq. ft. Rent $3,090/month+1/12 taxes & Insurance prorata.52% of GLA Clearwater Fastener LLC/Mo Theriault, 3 year term, Sep 2017 to Aug 2020, 1,100 sq. ft. Rent $750/month +$100 CAM. Tenant does not reimburse for Tax & Ins. 2 bed/1ba apartment, 1,100 sq. ft. Rent $650 Gross month to month lease. No Reimbursements Annual Expenses Gross Rent $53,880 Property Taxes $4,607 + Tax Reim-Cstore $2,395 Insurance $3,324 +Ins Reim C-store $1,729 CAM $2,400 + CAM Reim $1,200 Annual OPEX $10,331 Adjusted Gross Revenue $59,204 NOI $48,873 Offered at $625,000 or 7.82% Cap

4 PROPERTY PHOTOS

5 PROPERTY AERIALS SUBJECT PROPERTY SITE

6 PROPERTY AERIALS SUBJECT PROPERTY SITE

7 LOCATOR MAP

8 RETAIL MAP Y BA VD BL TO F L U G SUBJECT PROPERTY SITE

9 THE LOCATION Clearwater, Florida Located on Florida s Gulf Coast, Clearwater is known for its internationally famous beach, semitropical climate and cool breezes off the Gulf of Mexico. The city has a high coastal bluff which commands a picturesque view of the Intracoastal Waterway and the Gulf of Mexico. Clearwater is home to more than 110,000 residents. Centrally located on the Pinellas peninsula, Clearwater is only a 20-minute drive to Tampa International Airport (TPA) and near the cities of Tampa and St. Petersburg. Tourism is a major economic driver for Clearwater, with more than one million annual visitors enjoying our beach, boating, fishing, fine dining and luxury hotels. Clearwater is also home to a growing and diverse business climate with established businesses in finance, information technology, software, insurance, marine science, medical technology and manufacturing. The Tampa Bay region, which encompasses Clearwater, benefits from continued job growth and affordable quality of life, an abundant workforce and excellent educational opportunities. WHAT'S NEARBY Two major airports are conveniently nearby: Tampa International Airport and St. Petersburg/Clearwater International Airport. In addition, Clearwater is also home to the Clearwater Coast Guard Air Station and is the 13th Coast Guard City in the United States. The downtown area is the gateway to the beautiful Clearwater beaches and the Coast Guard Station on Sand Key. Public transportation is available in the form of the Jolley Trolley (and the Jolley Trolley Tracker Mobile App), Clearwater Ferry, and the Pinellas Suncoast Transit Authority.

10 CLEARWATER MARKET OVERVIEW ECONOMIC DEVELOPMENT AND BUSINESS INCENTIVE Key reasons to do business in Clearwater Highly skilled workforce Close proximity to major road, rail, port and airport facilities Excellent utility, data and telecommunications infrastructure Innovative manufacturing, technology and healthcare bases Stable, pro-business leadership Desirable location, climate and amenities Clearwater loves business big or small, new or expanding, the city provides a wide variety of office, industrial, retail and flex spaces to meet your business needs. Offices, industrial areas and retail centers are just minutes to international airports, ports and interstates. In the Clearwater Central Business District, you ll find attractive lease rates and even more attractive views of the Intracoastal Waterway and Gulf of Mexico. From bay to beach, Clearwater offers the ultimate business climate. TOTAL ECONOMIC IMPACT More than $ 2 billion NUMBER OF VISITORS TO CLEARWATER More than 1.1 million Tax Incentives Florida residents pay no personal state income tax Florida residents pay no state personal capital gains tax Top state corporate income tax is 5.5% Top state corporate capital gains tax is 5.5%

11 CLEARWATER BEACH Named the No. 1 beach in the country by TripAdvisor Travelers Choice Awards in Named the twentieth best beach in the world in 2016 by TripAdvisor Travelers Choice Awards. Named the No. 2 best beach in Florida by USA Today in Named the No. 1 best beach town in the nation by USA Today in TARGET INDUSTRIES Industries well-suited for Clearwater s capacity and potential Health & Human Performance Data Management Analytic & Services Professional services Finance & Insurance Software Marine & Ecological Activities High Tech Electronics & Instruments

12 1 Mile 3 Miles 5 Miles 2018 Summary 1 Mile 3 Miles 5 Miles 2023 Summary 1 Mile 3 Miles 5 Miles Population 16, , ,156 Population 17, , ,534 Households 6,257 46, ,166 Households 6,495 47, ,527 Families 3,377 25,439 59,640 Families 3,487 26,130 61,764 Average Household Size Average Household Size Owner Occupied Housing Units 2,769 24,909 65,527 Owner Occupied Housing Units 2,966 26,506 69,857 Renter Occupied Housing Units 3,489 21,248 46,639 Renter Occupied Housing Units 3,529 21,027 46,670 Median Age Median Age Median Household Income $39,399 $42,845 $44,145 Median Household Income $44,055 $49,354 $51,078 Average Household Income $55,393 $62,038 $63,748 Average Household Income $64,946 $73,353 $75,410 16,352 Population 2.5 Average Household Size 1 Mile KEY FACTS BUSINESS 40.1 Median Age $39,399 Median Household Income 109,122 Population 2.5 Average Household Size 3 Miles KEY FACTS BUSINESS 44.9 Median Age $42,845 Median Household Income 245,156 Population 2.5 Average Household Size 5 Miles KEY FACTS BUSINESS 49.5 Median Age $44,145 Median Household Income 772 Total Businesses 6,118 Total Employees 4,320 Total Businesses 44,701 Total Employees 9,743 Total Businesses 107,909 Total Employees

13 CONTACT MICHAEL L. JOHNS, MBA Principal Designated Broker Single-Tenant Net Lease Advisor Investment Properties One Urban Centre at Westshore Tampa, FL Office: Cell: National CRE Brokerage IRC 1031 Exchanges NNN Advisory Services