The Plaza at Indian Rocks

Project Snapshot

This Largo, Florida project repositions an underutilized single-tenant bank branch into an income-diversified, two-component mixed-use asset. Approximately 16,000 square feet of the former Bank of America building is being converted into small, multi-tenant office suites, while a new 40-unit residential building is constructed and attached to the office component. The result is a single site that pairs stabilized multifamily cash flow with value-add commercial upside, replacing a low-utilization legacy use with two complementary income streams.

The location anchors the strategy. The site sits within an established Publix-anchored neighborhood shopping center at a signalized intersection on a primary suburban retail corridor in central Pinellas County, roughly a mile from the Gulf beaches. Pinellas is Florida's most densely populated and effectively built-out county, where barriers to new supply support durable occupancy and rents. A diversified regional employment base across healthcare, medical-device manufacturing, financial services and tourism underpins steady rental and small-office demand. All units are two-bedroom — a deliberate response to the submarket's renter profile of young professionals, roommate households and downsizers seeking coastal-adjacent housing.