Napa Retail Center
5011-5047 Ulmerton Road Largo, FL 33760
- 20,000 Square Feet
- Retail Industrial Office
- For Sale
Colliers International is pleased to offer for sale Napa Retail Center, a 20,000 square foot specialty shopping center located at the intersection of Ulmerton Road and 50th Way North, just 3 parcels west of the busy intersection of 49th Street and Ulmerton in Largo, FL. The property consist on a retail center in the front, facing Ulmerton Road, and a building in the back containing class B+ flex space. The front building is 100% occupied and contains 12,000 square feet of shop space. All three of these tenants just renewed for 5 and 10 more years. The back building is vacant and contains 8,000 square feet of class B+ flex space. The overall occupancy is 60%. By leasing up the back building at market rates, the NOI could be increased by over 50% within the first year of ownership.
Affluent surrounding neighborhoods, dense daytime and permanent population, and exceptional traffic counts make Ulmerton Road one of the most sought after locations for commercial retailers in Pinellas County and the Tampa MSA. Ulmerton Road is mostly developed, which creates high barriers to entry for new construction, forcing developers to either renovate or raise existing structures.
All these locational qualities and attributes make Napa Retail Center a highly desirable property. At 60% occupancy, this is a unique value-add opportunity with long term leases in-place.
Building Size: 20000 Square Feet
Area Available: 20,000 Square Feet