$900,000

The property (all 1/1's) features a thoughtful mix of rental options, including traditional long-term leases and flexible mid-term arrangements for a duration of 90 days or more. Of the five available units, three are currently designated for long-term rentals, providing stable and reliable income. The remaining two units are successfully rented on a mid-term basis through popular platforms such as Airbnb, VRBO, and Furnished Finders, catering to a growing market of travelers and professionals seeking temporary accommodations. All units boast a private & fenced outdoor space. This property sits outside the requirement for flood insurance. This property is ideally suited for anyone looking to enter the lucrative world of Airbnb rentals. With the current setup already established and operational, it offers a seamless transition for new investors seeking to make their mark in the rental market. For seasoned investors, this property represents a fantastic addition to an existing portfolio, enhancing diversification and revenue potential. Units easily converted to all traditional rentals or all midterm rentals with the addition or omission of furnishings.

5 Beds ⋅ 5 Baths ⋅ TB8474230 MLS

115 Cleveland Avenue, Belleair Bluffs

Listing courtesy of CARTER PROPERTY GROUP LLC. 727-481-6842

$3,200,000

351 W Bay Dr offers investors a stabilized, income-producing retail asset with embedded upside and mixed-use redevelopment potential in the core of Downtown Largo. The property consists of five fully leased suites, delivering immediate in-place cash flow with a diversified tenant mix. Recent capital improvements materially reduce near-term capital expenditure exposure. In 2024, ownership completed a full silicone roof restoration across the entire building at an approximate cost of $34,000. Additionally, several suites have received new HVAC units within the past two years, strengthening the overall mechanical profile of the asset. Beyond stable current income, the property presents a compelling long-term value-add opportunity. The site has received approval from Pinellas Planning & Zoning for the potential addition of up to 16 residential units above the existing commercial structure (buyer to independently verify all zoning, land use, entitlement, and development requirements). This creates a rare opportunity for vertical mixed-use densification in a supply-constrained downtown corridor. Strategically positioned along West Bay Drive with strong frontage and visibility, the plaza is surrounded by significant public and private investment. Nearby developments include the Horizon West Bay project and the new 110,000± SF Largo City Hall complex featuring ground-floor retail and a 365-space public parking garage. The walkable downtown environment, anchored by Largo Central Park and Ulmer Park, supports consistent foot traffic and tenant demand. The asset benefits from proximity to major employment drivers, including HCA Largo Medical Center, and continued residential growth throughout the submarket. As Downtown Largo continues to mature, investors may capitalize on potential rent growth, tenant repositioning, and long-term redevelopment optionality. This offering presents an opportunity to acquire a stabilized retail property with near-term capital improvements completed and strategic upside in one of Pinellas County’s evolving urban nodes.

S5143423 MLS

351 W Bay Drive, Belleair Bluffs

Listing courtesy of KELLY RIGHT REAL ESTATE. 813-312-2282