940 N SUNCOAST BOULEVARD at

940 N SUNCOAST BOULEVARD

For sale Days on market 204

$3,999,000

$145/sq ft

$1,599,000
Price Increased

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940 N SUNCOAST BOULEVARD

For sale Days on market 204

$3,999,000

$145/sq ft

$1,599,000
Price Increased

Overview

Year Built

1984

Sqft

27600

Property Type

Retail

Property Description

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.

Property Details

MLS#

OM720955

Total Floor in Bldg

Address

940 SUNCOAST N

City

Crystal River

State/county

Zip/Postal Code

34429

Area

Crystal Crest Add Unrec

Country

United States

HOA

Yes

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$24,200

Maint Fee

$--

Tax Year

2025

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