Commercial Sale · Retail
351 W BAY DRIVE, LARGO, FL, 33770
Active163 days on marketListed Feb 11, 2026MLS #S5143423
About this property
The property at a glance
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.
13,195
Building sq ft
$243
Price / sq ft
0.54
Lot acres
2004
Year built
1
Building
Retail
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$16,503/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Steeve to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
1,726
Population
$38,494
Median income
54
Median age
2
Avg household
$244,496
Median home value
$881/mo
Median rent
110
Households w/ kids
Consumer profile
Always seeking the next book, article, or poem to read, this activity is prevalent in areas where reading is a way of life. Although a solo activity, the expression of the love of books is a bonding, communal experience.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Some dance for fitness, others for fun, and a few turn it into a profession. No matter how these people groove to the music, their love for dance is what bonds them.
Movie buffs and binge watchers expressing their love for movies, storytelling, and the film making process.
This population lives as fast as the culture. They like to keep up with the latest trends, especially when it comes to apparel and accessories.
Passionate about all things hair, this population is talking about hair tutorials or the hottest celebrity blowout.
Recent sales
What actually sold near 351 W BAY DRIVE
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$1,075,000
206 W BAY DRIVE
10,670 sqft · $101/sqft · Sold Feb 10, 2026
$1,250,000
12541 ULMERTON ROAD
12,005 sqft · $104/sqft · Sold Jan 28, 2026
$60,000
9483 ULMERTON ROAD UNIT 9483
7,770 sqft · $8/sqft · Sold Aug 8, 2024
Your team
The pros in your corner
Your agent
Steeve Cadeau
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 351 W BAY DRIVE — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 351 W BAY DRIVE.
See it in person
Schedule a tour
Pick a day that works — this goes straight to Steeve's phone and CRM.
Keep looking
Similar properties nearby
Listing courtesy of KELLY RIGHT REAL ESTATE · Muhammad Shaikh. MLS #S5143423.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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