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Shoppes at East Bay 4895 E Bay Dr 7,400 SF 100% Leased Retail Building Clearwater, FL 33764 $7,755,496 CAD ($1,048.04 CAD/SF) 5.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Part of the Shoppes at East Bay development, which consists of four lots including Fifth Third Bank, Habit Burger, and Raising Cane's
- Leases feature strong corporate guarantees and excellent synergy within the surrounding retail market
- Centrally positioned in Pinellas County along East Bay Dr, with easy access to US-19, SR 60, and I-75, which are all main travel corridors in the area
- Fully leased to CareSpot Urgent Care (3,200 RSF) and Pacific Dental (4,200 RSF), both with NNN leases in place
- Current leases offer market rents with room to grow in the future
- Excellent access and visibility along with its own dedicated monument sign
EXECUTIVE SUMMARY
Franklin Street is pleased to present the Shoppes at East Bay, a 1.22 acre, 7,400 RSF property consisting of two medical retail tenants centrally located in Clearwater, FL, in one of the densest counties in the country. The Property is part of a multiple parcel development consisting of five national tenants. including Raising Canes, Habit Burger, Fifth Third Bank and at the subject opportunity, CareSpot Urgent Care and Pacific Dental. The Property benefits from little competition in the area from other Medtail users and is conveniently located near the main travelling corridors within Pinellas County. Shoppes at East Bay has excellent visibility with 150 feet of frontage along East Bay Drive (62,000 VPD) and is shadow anchored by Publix just across the street. East Bay Drive is a main retail and commuting corridor which connects directly to US-19 (99,000 VPD). As medical retail space becomes harder and harder to secure in this market, Shoppes at East Bay is well positioned for stable and long term success.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
7,400 SF
Building Class
B
Year Built
2023
Price
$7,755,496 CAD
Price Per SF
$1,048.04 CAD
Cap Rate
5.40%
NOI
$418,520 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
1.22 AC
Zoning
R/O/R
Parking
52 Spaces (7.03 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- CareSpot Urgent Care
- Health Care and Social Assistance
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| CareSpot Urgent Care | Health Care and Social Assistance | - | - | - |
Walk Score®
Very Walkable (74)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 31-29-16-81203-000-0040 | Improvements Assessment | $1,354,858 CAD |
| Land Assessment | $1,204,474 CAD | Total Assessment | $2,559,331 CAD |
PROPERTY TAXES
Parcel Number
31-29-16-81203-000-0040
Land Assessment
$1,204,474 CAD
Improvements Assessment
$1,354,858 CAD
Total Assessment
$2,559,331 CAD
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Shoppes at East Bay | 4895 E Bay Dr
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