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Retail/Office at Sponge Docks 531 Athens St 3,006 SF Retail Building Tarpon Springs, FL 34689 $1,803,620 CAD ($600.01 CAD/SF) 5.73% 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. Downstairs has a new tenant locked in a new lease with 3% rent bumps for the next 3 years.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$123,479
|
$41.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$123,479
|
$41.08
|
| Taxes |
$13,784
|
$4.59
|
| Operating Expenses |
$6,401
|
$2.13
|
| Total Expenses |
$20,185
|
$6.71
|
| Net Operating Income |
$103,293
|
$34.36
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $123,479 |
| Annual Per SF | $41.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $123,479 |
| Annual Per SF | $41.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,784 |
| Annual Per SF | $4.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,401 |
| Annual Per SF | $2.13 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $20,185 |
| Annual Per SF | $6.71 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $103,293 |
| Annual Per SF | $34.36 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,006 SF
Building Class
C
Year Built
1911
Price
$1,803,620 CAD
Price Per SF
$600.01 CAD
Cap Rate
5.73%
NOI
$103,347 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.41
Lot Size
0.17 AC
Frontage
42’ on Athens St.
AMENITIES
- Corner Lot
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,527,332 CAD (2025) | |
| Land Assessment | $874,730 CAD (2025) | Annual Taxes | $13,784 CAD ($4.59 CAD/SF) |
| Improvements Assessment | $652,602 CAD (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$874,730 CAD (2025)
Improvements Assessment
$652,602 CAD (2025)
Total Assessment
$1,527,332 CAD (2025)
Annual Taxes
$13,784 CAD ($4.59 CAD/SF)
Tax Year
2026
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Retail/Office at Sponge Docks | 531 Athens St
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