About 940 N Suncoast Boulevard
South Square is a prime neighborhood shopping center and storage facility featuring 15 retail units (17 with splitting) and 52 storage units situated on approximately 2.36 acres of prime commercial property with over 400 feet of frontage along US-19/98 (±32,000 AADT) within the Tampa–St. Petersburg MSA, the 18th largest metropolitan area in the United States. This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream. With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income by 7.34% stabilized cap rate, while maintaining minimal vacancy in the storage component.
Features of 940 N Suncoast Boulevard
| MLS® # | OM720955 |
|---|---|
| Price | $3,999,000 |
| Square Footage | 27,600 |
| Acres | 2.36 |
| Year Built | 1984 |
| Type | Commercial Sale |
| Sub-Type | Retail |
| Status | Active |
Listing Details
| Office | CENTURY 21 J.W.MORTON R.E. |
|---|
Listing Map
Neighborhood Information for 940 N Suncoast Boulevard
Stable Population, Low Residential Turnover, Coastal Area
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Crystal River Primary School Public - Preschool to 5Th Grade - Closest Elementry School |
2 Miles | |
|
Crystal River Middle School Public - 6Th Grade to 8Th Grade - Closest Middle School |
2 Miles | |
|
West Coast Christian School Private - Kindergarten to 12Th Grade - Closest High School |
2 Miles | |
|
|
Crystal River High School Public - 9Th Grade to 12Th Grade |
2 Miles | |
|
Rock Crusher Elementary School Public - Preschool to 5Th Grade |
3 Miles | |
|
|
Bright Beginningslearning Academy Private - to |
4 Miles | |
|
|
Academy Of Environmental Science Public - 9Th Grade to 12Th Grade |
4 Miles |
School data provided by GreatSchools