Excellent opportunity for the savvy owner/investor.
14060 118th Avenue N. is a unique, small mixed-use complex known as Indian Rocks Plaza. The 8,607 SF complex is located on a highly visible 0.48-acre site fronting on Walsingham Road at the Indian Rocks Causeway.
Indian Rocks Plaza consists of the following:
- One 2,094 SF retail/office building
- Five small retail units totaling 2,884 SF
- 10 storage units totaling 3,629 SF
The property is currently 100% occupied. The retail/office building and four of the storage units are currently in use by the seller, and the retail units as well as the remaining six storage units are presently leased at below-market rents. With the current owner occupying a portion of the property, there is immediate revenue potential for an investor via a short-term sale/leaseback of these spaces at market rents.
Value Add Potential
This investment opportunity offers significant "value add" potential, as all the leases are month-to-month or have minimal remaining lease terms and there is a steady demand for the storage units and retail spaces. An owner/investor could occupy the larger retail/office building and collect rent at market rates from the small retail and storage units. Factor in the additional income provided by the billboard on the site, which conveys with the sale, and the new owner could see immediate revenue from the property.
Ideal for owner/investor use
Superior visibility: Property fronts on Walsingham Road
Mixed use property: Retail, office, storage
Due diligence materials available upon execution of Confidentiality Agreement
