Mulligan's Plaza 

9524 Blind Pass Road | St. Pete Beach, Florida 33706

Contact Brokers

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Evan Cannan
Investment Advisor 
Evan.Cannan@MarcusMillichap.com
(C) (727) 480-1362 

(O) (813) 387-4765
FL #SL3433461

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com

(O) 813-387-4788
FL #SL3216834

Highlights

  • Located Directly in the Heart of the Beautiful St. Pete Beach and Benefits From the Thousands of People Who Migrate South Every Year.

  • Located Across the Street From the St. Pete Tennis & Yacht Club and Captiva Cay Townhomes, Who Share a Combined 500 Units, Mulligan’s Plaza Directly Serves This Class A Customer Base.

  • Rental Rates for Similar Spaces in the Immediate Submarket Range Between $18 and $22 per Square Foot NNN. The Average Rental Rate for Mulligan’s Plaza Is About $10 per Square-Foot Below Market.

  • With an Average Household Income of More Than $95,000 per Year Within a 1-Mile Radius and More Than 140,000 Residents Within a 5-Mile Radius, Mulligan’s Plaza Has Ideal Demographics for Long Term, Stable Occupancy in a Market With an Undersupply of Retail Space.

  • The Majority of Tenants Are Paying Below $10 per Square-Foot and Are on MTM Lease Structures, Allowing a Lot of Flexibility for a New Owner To Come In and Immediately Add Value.

  • Pinellas County Is Credited With Being the Densest County in the Entire State of Florida With More Than 970,000 Residents.

Description

Marcus & Millichap is pleased to exclusively offer for sale Mulligan’s Plaza, a 19,375-square-foot shopping center located in Tampa Bay MSA. The subject property is 100% occupied by tenants whose average rental rate is about $10 per square-foot below market. Uniquely positioned in St. Petersburg, FL and in heart of the beautiful St. Pete Beach, the subject property benefits from the thousands of people who migrate South every year. With an average household income of more than $95,000 per year within a 1-mile radius and more than 140,000 residents within a 5-mile radius, Mulligan’s Plaza has ideal demographics for long term, stable occupancy in a market with an undersupply of retail space.