111-179 Boardwalk Place w - Retail FOR SALE


Madeira Beach, FL 33708
$42,921,000 USD
727-452-6864
111-179 Boardwalk Place w, Madeira Beach, FL for Sale
$42,921,000 USD
Retail - FOR SALE
1/8
null | 7.5% Cap Rate

111-179 Boardwalk Place w
Madeira Beach, FL 33708


HIGHLIGHTS

  • John’s Pass Village is a 95.3% occupied shopping plaza comprised of 19 tenants across 42,691 SF of retail space
  • Of the 19 tenants, 13 tenants have NNN recoveries, Bubba Gump Shrimp Co. has NN recoveries, and Hooters has percentage rent recoveries
  • John’s Pass Village generates significant income from the parking garage (approximately $1.5M+ annually), along with hotel reservations
  • The property is spread across 4 buildings, providing investors the ability to carve out and create additional cash flow through a disposition
  • John’s Pass Village & Boardwalk is Pinellas County’s top tourist attraction, with over 100 merchants and 3.1 million annual visitors
  • The center is located in Pinellas County, the most densely populated county in the state of Florida

OVERVIEW

RIPCO Real Estate is pleased to offer for sale John’s Pass Village, a ±53,853 SF commercial property located within John’s Pass Village & Boardwalk on the southeast corner of Gulf Boulevard and 129th Avenue West in Madeira Beach, FL. The property consists of ±11,162 SF of hotel space, ±42,691 SF of retail space, and a six-level parking garage with over 300 parking spaces which is open 24/7. 19 of the 20 retail spaces are currently occupied by a diverse group of tenants, including restaurants, gift stores, boat charters, and others. John’s Pass Village & Boardwalk is Pinellas County’s top tourist attraction, with over 100 merchants and 3.1 million annual visitors. This stretch of Gulf Boulevard where the property is located has an AADT of 22,000. Within 3 miles of John’s Pass Village, there is a population of 35,061 and an average household income of $133,236. The asset would be an attractive investment opportunity for investors looking for minimal landlord responsibilities, located in Pinellas County, Florida’s most densely populated county, occupied by a diverse tenant mix, and located within John’s Pass Village & Boardwalk, Pinellas County’s most popular tourist attraction.

FOR SALE DETAILS

PRICE

$42,921,000 USD

PRICE/SF

$797 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

John's Pass Village

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

15-31-15-58320-002-0050

ASK ABOUT THIS PROPERTY

Ari RaviRipco Real EstateMore Info
727-452-6864

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Ari RaviRipco Real EstateMore Info
727-452-6864

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.