x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Solaris Plaza, Clearwater, FL

Solaris Plaza

Price $4,484,000
Cap Rate 6.15%
NOI $275,759
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2018
Building Size 6,373 SF
Lot Size 1.14 acres (49,799 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW MULTI-TENANT RETAIL INVESTMENT
» New long-term net leases
» Scheduled rental increases, providing a hedge against inflation
» Multi-tenant shopping center offers investment diversification

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 59,500 vehicles per day at the hard corner of Cross Circle and Gulf to Bay Boulevard
» Gulf to Bay Boulevard is a main thoroughfare to and from downtown Tampa and provides immediate access to U.S. Highway 19 (107,500 AADT) and McMullen Booth Road/Bayside Bridge (68,960 AADT)
» Adjacent to Clearwater Mall, the premier shopping destination in the Clearwater area
» Notable tenants in the nearby area include McDonald’s, Sam’s Club, Home Depot, Best Buy, Guitar Center, LA Fitness, Publix, AutoZone, and CVS

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Located at the main entrance to Solaris Key, a new 12-building, 426-unit luxury apartment complex with more than 700 residents
» Near BayCare Health System’s new corporate campus, with approximately 20,000 employees
» Less than one mile from the St. Petersburg College – Clearwater Campus, with over 14,000 students
» Minutes from several sports facilities, including the Joe DiMaggio Sports Complex, where the Phillies conduct their spring training
» 228,282 residents live and 125,050 daytime employees work within a five-mile radius of the property

2018 CONSTRUCTION
» Features dedicated drive-thru
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is strategically located at the hard corner of Cross Circle and Gulf to Bay Boulevard, with excellent visibility and access to 59,500 vehicles per day. Gulf to Bay Boulevard, a main thoroughfare to and from downtown Tampa, provides immediate access to U.S. Highway 19 (107,500 AADT) and McMullen Booth Road/Bayside Bridge (68,960 AADT). Gulf to Bay Boulevard is a major retail corridor, and the property is near several large retail centers. The property is within walking distance of Clearwater Mall, the premier shopping destination in the Clearwater area, featuring top national retailers, including Super Target, Costco, Lowe’s, Ross, Michaels, PetSmart, Pier 1 Imports, and more. Other notable tenants in the nearby area include McDonald’s, Sam’s Club, Home Depot, Best Buy, Guitar Center, LA Fitness, Publix, AutoZone, and CVS, amongst others.

Located in a high-demand corridor between U.S. Highway 19 and Courtney Campbell Causeway, the property is near several large schools, recreational facilities, and new residential and commercial developments. The property sits at the main entrance to Solaris Key, a new 12-building, 426-unit luxury apartment complex, providing a customer base of over 700 residents within the property’s immediate vicinity. Another significant new development located within walking distance of the property is BayCare Health System’s corporate campus. Supporting approximately 20,000 employees, the new campus consolidates all of BayCare’s corporate employees into a single location and serves as the main site for medical-personnel training. Also nearby are the St. Petersburg College – Clearwater Campus, with over 14,000 students, and several sports facilities, including Spectrum Field, the Eddie C. Moore Softball Complex, and the Joe DiMaggio Sports Complex. Sports tourism is a major contributor to Clearwater’s economy; in 2015, the Phillies, which conduct their spring training at the Joe DiMaggio Sports Complex, had an economic impact of $120 million on Clearwater. Games, competitions, and tournaments in a variety of sports bring thousands of fans and visitors annually, along with media outlets from different areas, adding to the property’s customer base. In addition, the property is located in densely populated residential and commercial area; 228,282 residents live and 125,050 daytime employees work within a five-mile radius of the property.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link