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18,495 leasable Sq.Ft Retail Shopping Plaza Considerable Upside High Traffic Location Minutes from St. Pete Airport Ulmerton Plaza 3700 Ulmerton Dr. Clearwater, FL
3700 Ulmerton Dr. Clearwater, FL 18,495 leasable Sq.Ft
Retail Shopping Plaza
Considerable Upside
High Traffic Location
Minutes from St. Pete Airport
Ulmerton Plaza
3700 Ulmerton Dr. Clearwater, FL
Presented by: Ron Ohana Licensed Real estate Broker Sellmax Realty Inc
Direct: 305.931.1557 Email: [email protected]
Ulmerton Plaza Clearwater, FL
Real Estate Investment Details
ANALYSIS ________________
Analysis Date August 2016
PROPERTY____________________________ Property Ulmerton Plaza Property Address 3700 Ulmerton Rd
Clear Water, FL Year Built 2007
PURCHASE INFORMATION___________ Property Type Retail Purchase Price $2,550,000 Total Rentable Sq. Ft. 18,495
INCOME & EXPENSES________________ Gross Operating Income (Potential) $352,480 Total Annual Expenses ($115,400)
Net Operating Income $237,080
DESCRIPTION_______________________ 3700 Ulmerton Plaza is a 2007 built shopping plaza consisting of two buildings totaling approximately 18,000 square feet. It is currently 50 percent occupied with branded tenants SUCH AS Little Greek Papa John' s Pizza. Other retailers in the area include Taco Bell, McDonalds, Subway, CVS, Starbucks, Burger King and Publix.
The property is located on Ulmerton Road in Clearwater, FL in the Gateway corridor of Tampa Bay and offers convenient access to Clearwater, St. Petersburg and Tampa. It boasts a daily traffic count of over 95,000.
The surrounding area has a high employment density with many office buildings and office parks. Nearby employers include Raymond James Financial, Aegon/Western Reserve Life, Allstate, Franklin Templeton, PSCU, Bic and Xerox. The employment density makes this a destination stop for lunch. This is also a sought after dinner location by evening commuters. Average rent is below $20 per square foot which is below market compared to other newer construction centers.
Presented by: Ron Ohana Licensed Real estate Broker Sellmax Realty Inc
Direct: 305.931.1557 Email: [email protected]
Ulmerton Plaza Clearwater, FL
Presented by: Ron Ohana Licensed Real estate Broker Sellmax Realty Inc
Direct: 305.931.1557 Email: [email protected]
Ulmerton Plaza Clearwater, FL
Presented by: Ron Ohana Licensed Real estate Broker Sellmax Realty Inc
Direct: 305.931.1557 Email: [email protected]
Ulmerton Plaza Clearwater, FL
Executive Summary
Ulmerton Plaza 3700 Ulmerton Rd Clear Water, FL
ACQUISITION COSTS
Purchase Price $2,450,000 Price per Sq. Ft. $132
Actual_______________________
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income $268,299 Operating Expenses ($95,776) Net Operating Income $172,524
Unit Number Unit Name Potential
Rent Amount Sales & Use Tax Amt. Gross Rent Sq.Ft
101Little Greek
$4,983.33 $348.83 $5,332 2,652 $5,332
103 Papa John's $3,850.00 $269.50 $4,120 1,500 $4,120
104 & 105 Mity Nice Deli $3,450.00 $201.25 $3,651 2,300 $3,651
106 T-Mobile $2,214.00 $154.98 $2,369 1,200 $2,369
107 Bangkok Express $2,535.42 $177.48 $2,713 1,400 $2,713
201 VACANT 1,500 $2,115
202 Stars Cleaners $1,200.00 $84.00 $1,284 1500 $1,284
203 Goulds Travel $1,350.00 $94.50 $1,445 1,762 $1,445
204 VACANT 1,500 $2,115
205 VACANT 1,500 $2,115
206 Cue Recording $1,500.00 94.5 $1,445 1,500 $2,115
TOTALS $21,082.75 $1,425.04 $22,358.29 18,314 $29,373
TOTAL INCOME $22,358.29
Actual Potential
Income $268,299 $352,479.72Scope of
work
Total
Payment -
Monthly
Total
Payment -
Yearly
Waste dumpster $780 $9,360
Expenses $95,776 $115,400 Janitorial Janitorial $300 $3,600
Landscape Lawn Service $250 $3,000
Net Income $172,524 $237,080 Insurance $1,808 $21,700
Electricity $459 $5,508
Water $270 $3,240
Stome Water Storm Water $160 $1,068
Real Estate Tax Real Estate Tax $4,025 $48,300
Total $8,052 $95,776
Sales & Use Tax
3700 Ulmerton Rd. Rent Roll
