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Retail/Office at Sponge Docks 531 Athens St 3,006 SF Retail Building Tarpon Springs, FL 34689 $1,814,696 CAD ($603.69 CAD/SF) 5.35% Cap Rate
EXECUTIVE SUMMARY
Prime Retail + Income Opportunity! 531 Athens Street offers ±3,000 SF in vibrant Tarpon Springs, featuring a stable ground-floor retail tenant and a flexible upstairs space ideal for office use or short-term rental (Airbnb) conversion. Located steps from the Sponge Docks with strong visibility and foot traffic, this mixed-use property is perfect for investors or owner-users. Zoned for commercial use and listed at $1.3M, it provides immediate income with value-add upside in a high-demand market.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$117,469
|
$39.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$117,469
|
$39.08
|
| Taxes |
$13,868
|
$4.61
|
| Operating Expenses |
$6,441
|
$2.14
|
| Total Expenses |
$20,309
|
$6.76
|
| Net Operating Income |
$97,160
|
$32.32
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $117,469 |
| Annual Per SF | $39.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $117,469 |
| Annual Per SF | $39.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,868 |
| Annual Per SF | $4.61 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,441 |
| Annual Per SF | $2.14 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $20,309 |
| Annual Per SF | $6.76 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $97,160 |
| Annual Per SF | $32.32 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,006 SF
Building Class
C
Year Built
1911
Price
$1,814,696 CAD
Price Per SF
$603.69 CAD
Cap Rate
5.35%
NOI
$97,086 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.41
Lot Size
0.17 AC
Frontage
42’ on Athens St.
AMENITIES
- Corner Lot
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Five Branches Brewery
- Retailer
- -
- $27.39 CAD
- Modified Gross
- May 2020
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Five Branches Brewery | Retailer | - | $27.39 CAD | Modified Gross | May 2020 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,474,495 CAD (2024) | |
| Land Assessment | $811,633 CAD (2024) | Annual Taxes | $13,868 CAD ($4.61 CAD/SF) |
| Improvements Assessment | $662,862 CAD (2024) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$811,633 CAD (2024)
Improvements Assessment
$662,862 CAD (2024)
Total Assessment
$1,474,495 CAD (2024)
Annual Taxes
$13,868 CAD ($4.61 CAD/SF)
Tax Year
2026
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Retail/Office at Sponge Docks | 531 Athens St
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