Park Blvd Value Add Retail Center
6528 Park Boulevard N., Pinellas Park, Florida 33781
Sold: $850,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
7,880 sqft
Land Size
0.59 acres
Sewer
City
Water
City
Zoning
General Commercial
Electric
Duke
Year Built
1972
Roof
Flat
Construction
Masonry
Property Description
John Burpee & Associates is proud to present the Value-Add PARK BLVD Retail Plaza for your consideration. Located at 6328 Park Blvd, Pinellas Park Florida 33781 is an excellent opportunity for an investor to create value internally with mark to market lease renewals and renovations.
The property is currently 100% occupied at below market rates with long term tenants. All tenants are on annual leases giving a new owner the opportunity to immediately raise rents upon lease renewals before the end of 2019.
Based on the current rent roll attached 4,200 sqft of the tenant base is currently $3 to $6 PSF under market rents for the area with the remaining 3,488 sqft at $1 to $2 per square foot under market rents.