retail strip plaza for sale ! income producing · 2019-07-17 · section 3 • financial analysis...

LISTING AGENT • SWAPNA SHAH/REALTOR [email protected]

Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com

6401 DR MARTIN LUTHER KING JR ST N, ST PETERSBURG, FL 33702

THE MEDICINE SHOPPE PHARMACY RETAIL STRIP PLAZA ON SIGNALIZED INTERTECTION ON MLK & 62ND AVE.

Swapna Shah Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]

RETAIL STRIP PLAZA FOR SALE ! INCOME PRODUCING !

https://www.grimaldicommercialrealty.com/index.php


RETAIL PROPERTY FOR SALE

2

presented by:

PROPERTY INFORMATION 3

LOCATION INFORMATION 10

FINANCIAL ANALYSIS 15

DEMOGRAPHICS 19

ADVISOR BIOS 21

Realtor-Sales AssociateO: 813.882.0884

C: 813.789.4142

E: [email protected]

Swapna Shah

President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]

Kari L. Grimaldi/ Broker

The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.

By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.

The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.

This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation.

Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forthherein.

Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.

CONTENTS CONFIDENTIALITY & DISCLAIMER



TABLE OF CONTENTS


PROPERTY INFORMATION


SECTION 1 • PROPERTY INFORMATION

4

OFFERING SUMMARY

Sale Price: $1,500,000

Cap Rate: 5.05%

NOI: $75,688

Available SF: 1,500 SF

Lot Size: 0.47 Acres

Year Built: 1968

Building Size: 6,614 SF

Renovated: 2018

Zoning: COMMERCIAL C2

Market: St Petersburg

Price / SF: $226.79

AVAILABLE SPACES

SPACE LEASE RATE LEASE TYPE SIZE (SF)

6409 DR MLK $15.00 SF/yr 1,500 SF

PROPERTY OVERVIEWINVESTMENT OPPORTUNITY, THE MEDICINE SHOPPE PHARMACY PLAZA WITHRETAIL 4 UNIT STRIP CENTER WITH INCOME { 6614 SF ON ALMOST 1/2 ACRE .}PERFECT FOR THE INVESTOR TO CONTINUE WITH CURRENT PHARMACYOWNER ON A LONG TERM LEASE .3 ADDITIONAL UNITS ARE LEASED WITH INCOME.LOCATED AT SIGNALIZED MLK & 62nd AVE IN ST PETERSBURG , FL NEAR 4THSTREET & GANDY BLVD.



EXECUTIVE SUMMARY




5

PROPERTY DESCRIPTION

INVESTMENT OPPORTUNITY, THE MEDICINE SHOPPEPHARMACY PLAZA WITH RETAIL 4 UNIT STRIP CENTER WITHINCOME { 6614 SF ON ALMOST 1/2 ACRE .}

PERFECT FOR THE INVESTOR TO CONTINUE WITH CURRENTPHARMACY OWNER ON A LONG TERM LEASE .

LONG TERM TENANCY WITH SOME MORE THAN 10 YEARS,BUT WITH FLEXIBILITY TO INCREASE RENT WITHIN ONE TOTHREE YEARS.

LOCATED AT SIGNALIZED MLK & 62nd AVE IN STPETERSBURG , FL NEAR 4TH STREET & GANDY BLVD.

LOCATION DESCRIPTION

Located at intersection on MLK & 64th Ave., near 4th St North

CONSTRUCTION DESCRIPTION

exterior of the building concrete Block Building with compositionShingle roof & Panel Gplast D Wall



PROPERTY DESCRIPTION




6

SALE HIGHLIGHTS

• THE MEDICINE SHOPPE PHARMACY PLAZA

• LOCATED ON SIGNALIZED MLK & 62nd AVE

• INCOME PRODUCING STRIP 4 UNITS PLAZA

• 19 PARKING SPACES

• LONG TERM TENANCY WITH SOME MORE

THAN 10 YEARS, BUT WITH FLEXIBILITY TO

INCREASE RENT WITHIN ONE TO THREE

YEARS



COMPLETE HIGHLIGHTS




7



ADDITIONAL PHOTOS




8



ADDITIONAL PHOTOS




9



ADDITIONAL PHOTOS


LOCATION INFORMATION


SECTION 2 • LOCATION INFORMATION

11

ST PETERSBURG, FL



REGIONAL MAP




12



RETAILER MAP




13



LOCATION MAPS




14

6401 DR MARTIN LUTHER KINGJR ST N



AERIAL MAPS


FINANCIAL ANALYSIS


SECTION 3 • FINANCIAL ANALYSIS

16

INVESTMENT OVERVIEW

Price $1,500,000

Price per SF $226.79

CAP Rate 5.1%

Cash-on-Cash Return (yr 1) 5.05 %

Total Return (yr 1) $75,688

Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income $99,899

Other Income -

Total Scheduled Income $99,899

Vacancy Cost $0

Gross Income $99,899

Operating Expenses $24,211

Net Operating Income $75,688

Pre-Tax Cash Flow $75,688

FINANCING DATA

Down Payment -

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -



FINANCIAL SUMMARY




17

INCOME SUMMARY

Gross Income $99,899

EXPENSE SUMMARY

Repairs and Maintenance $7,700INSURANCE & property taxes $16,511

Gross Expenses $24,211

Net Operating Income $75,688



INCOME & EXPENSES




18

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND STATUS LENGTH

ANNUALRENT

PRICEPER SF/YR

nail salon 700 9/12 9/19 $9,600 $13.71

Martial Arts Place 1,100 1/19 1/22 $16,800 $15.27

the medicine shoppe 3,000 $51,000 $17.00

available 1,500 $22,500 $15.00

Totals/Averages 6,300 $99,900 $15.86

Actual Gross Potential Rent* $0

Projected Gross Potential Rent** $99,900

*Actual Gross Potential Rent is based on current rents.**Projected Gross Potential Rent is based on market rents.



RENT ROLL


DEMOGRAPHICS


SECTION 4 • DEMOGRAPHICS

20

POPULATION 1 MILE 3 MILES 5 MILES

Total population 17,684 96,708 196,156

Median age 43.2 43.3 42.7

Median age (Male) 38.9 41.3 41.5

Median age (Female) 46.3 44.9 43.7

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 7,152 43,484 88,238

# of persons per HH 2.5 2.2 2.2

Average HH income $51,904 $57,707 $56,539

Average house value $164,227 $210,961 $210,746

* Demographic data derived from 2010 US Census



DEMOGRAPHICS MAP & REPORT


ADVISOR BIOS

SWAPNA SHAH

Commercial Realtor

ADVISOR BIO

PROFESSIONAL BACKGROUND

Swapna Shah has a strong rapport and extensive professional experience working with the

Tampa Bay community, and a passion for commercial real estate. She has demonstrated

leadership qualities and is known in different venues as persuasive and getting the job done.

Swapna has vast professional network and has been a Tampa Bay resident for over 25 years with

personal experience investing in commercial real estate as an owner. When Swapna needed real

estate experts 10 years ago to advise her regarding her commercial real estate needs, she turned

to Grimaldi Commercial Realty, Tampa’s most branded company. Because of Grimaldi

Commercial Realty’s integrity and straight forwardness in their dealings, she was left with such a

positive impression. When Swapna ventured into real estate brokerage she knew that she wanted

the finest Commercial Real Estate Company to mentor her to become a top notch real estate

professional.

Swapna’s own experience buying, selling and leasing has given her a keen understanding of

client’s needs. She is a poised and competent leader in our community and is capable and

passionate about turning client’s dreams into realties.

Swapna has a degree in Business Administration

EXPERTTISE

Hotels/Motels

Office/Medical

Investment Properties

Convenience stores/Gas Stations

1031 Exchanges

CONTACT

Swapna Shah

[email protected]

Cell: (813) 789-4142 | Fax: (813) 960-9830

www.GrimaldiCommercialRealty.com

ADVISOR BIO


SECTION 5 • ADVISOR BIOS

22


retail strip plaza for sale ! income producing · 2019-07-17 · section 3 • financial analysis...

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