5.16 Acres Retail | Largo, FL

Description:

This commercial offering is a prime redevelopment/value-add opportunity in the heart of Largo, which is bustling with exciting new developments in progress including the new downtown Mixed-Use City Hall in the West Bay Drive Community Redevelopment District, less than a mile away.

Existing 46,170 SF building sits on 5.16 acres on the highly trafficked main corridor of Missouri Ave N (Alt US 19). This property has potential to be repurposed in a multitude of ways. It is well suited for Multifamily, Mixed-Use, Retail, Distribution, ALF, Hospital, Medical, and more.

Current Tenants: ChenMed (National Primary Care Medical Center for Seniors) with new 10-year lease occupying 7,594 SF on south end of building; Badcock Home Furniture &more (National Retailer) occupying remaining 37,044 SF as owner/user to vacate by September 1, 2024.

New Nearby Developments:



New Largo City Hall, parking garage, public space, and 18,000 SF of retail and restaurant space (3 minutes from subject property)





Blue Skies, a 90-unit townhome complex with 18 units designated for affordable housing, located on Ridge Road and Woodrow Drive (4 minutes from subject property)


Sky View, a 16-unit townhome project on West Bay, has seen all its units sell out ahead of completion (3 minutes from subject property)


West Bay Lofts, plans to build 276 apartments, plus 21,000 SF of retail space and 332 parking spaces in the 500-600 block of West Bay (4 minutes from subject property)


Proposed mixed-use development at 280 West Bay featuring retail, restaurant, and office space, including a rooftop bar (3 minutes from subject property) 








FAR: 0.55


CG Zoning: Multifamily, Mixed-Use, Retail, Distribution, Medical, ALF, Hospital, Self-Storage and more


Current Allowable Building Size: 123,613.6 SF - No Limit to Height or # of Floors


Density: 30 du/ac (Live Local Act), 24 du/ac (by right)


National Senior Primary Care Tenant: ChenMed - New 10-Year Lease


Excellent Access & Visibility: Multiple Ingress/Egress points


Highly Trafficked, Main Thoroughfare: 33,000+ VPD


Nearby Destinations: Parks, Major Shopping Destinations, Tourist-Attracting World-Famous Beaches, New Largo Mixed-Use City Hall, West Bay Drive Community Redevelopment District


Nearby Retailers: Life Storage, Chipotle, Burger King, Subway, Dunkin’, Walmart, Largo Medical Center, Largo High School, Aldi, Publix, and many more national retailers & residential communities


Market: Tampa/St Petersburg


Submarket: Mid-Pinellas


Avg. Household Income: $76,776 within 5-mi radius


Consumer Spending: $3.1B within 5-mi radius

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