Largo, Florida, offers a unique opportunity for investors to capitalize on the city's growing retail market. With a population of approximately 80,000 residents, Largo provides a stable customer base for retail businesses. Retail properties in Largo can represent a range of investments, from small strip centers to larger shopping complexes. The city's strong infrastructure, including State Roads 686 and 688, Interstate 275, and US 19, makes it an attractive location for retailers looking to establish a presence in the Tampa Bay area. Additionally, Largo's proximity to the Gulf of Mexico and Tampa Bay provides a unique blend of natural amenities and economic opportunities. The city is also home to several major employers, including the Hospital Corporation of America (HCA) and Largo Medical Center, which contribute to the local economy. With its mix of small-town charm and big-city amenities, Largo is an excellent choice for businesses looking to establish a presence in the region.
Largo's retail market is characterized by a range of properties, including 17 retail properties currently available for sale. The average price per square foot for retail properties in Largo is $505 USD, with an average size of 27,166 square feet. The largest retail property available in Largo is 130,398 square feet. In addition to retail properties, Largo also offers a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. Shopping centers in Largo offer a range of retail and dining options, while restaurants in the city provide a diverse range of cuisines. Office properties in Largo are home to a range of businesses, from small startups to large corporations. Hotels in the city cater to the needs of visitors and business travelers alike. Overall, Largo's commercial market offers a range of opportunities for investors and businesses looking to establish a presence in the Tampa Bay area.
What is the average cap rate for retail properties in Largo?
When it comes to retail properties in Largo, investors can expect an average cap rate of 6.4%, which is a key metric to consider when evaluating potential investments. To learn more about how this rate is calculated and what it means for your investment, check out our article on what is a cap rate, a crucial concept in commercial real estate investing.
How do location and foot traffic affect retail property values?
In Largo, Florida, the location of a retail property plays a significant role in determining its value, with properties situated near major transportation hubs, such as Tampa International Airport and St. Petersburg–Clearwater International Airport, and along busy roads like US 19 and US 19 Alternate, tend to attract higher foot traffic and command higher prices. For instance, a retail property with a high foot traffic count, such as those located in the Largo Central Park area or near Lake Largo, can expect to see a higher value, with an average price per square foot of $505 USD and an average size of 27,166 square feet, resulting in a higher overall value.
