For Sale
$1,069,000

602 Martin Luther King Jr Ave Clearwater, FL 33756

High-Yield, Govt-Leased Office Investment

Overview

Added:
Feb 3
Days on market:
80
This exceptional 4,400 square foot office building, situated on a 0.39-acre lot at 602 S Martin Luther King Jr Avenue in Clearwater, Florida, presents a compelling investment opportunity. Currently fully leased to a government tenant under a ten-year lease, this property offers unparalleled stability and predictable income. The 7.5% capitalization rate reflects the strong cash flow potential. Recent, extensive renovations have addressed all major systems, minimizing future maintenance expenses. Upgrades include a complete overhaul of the electrical and plumbing systems, a new roof, updated air conditioning units and ductwork, new interior framing and insulation, and fresh paint throughout. This turnkey investment requires minimal ongoing capital expenditure, allowing for immediate positive cash flow. The property's location in Clearwater, Florida, offers convenient access to major transportation routes and amenities. The long-term lease with a government tenant significantly reduces the risk associated with typical commercial real estate investments, making this an ideal addition to any portfolio seeking consistent returns and minimal management demands. Detailed financial information, including rent rolls and lease specifics, is available upon request. This is a rare opportunity to acquire a high-quality, low-maintenance commercial property with exceptional long-term prospects.

Property Details for 602 Martin Luther King Jr Ave

Property type
Office properties
Square Feet
4,400 SF
Year Built
1964
Lot Size (sq. ft)
16,988 SF

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.95919
Longitude
-82.79189

FAQs

What type of property is this?
Office property - High-Yield, Govt-Leased Office Investment
Where is the office property located?
The property is located at 602 Martin Luther King Jr Ave Clearwater, FL.
What is the asking price?
The asking price for this property is $1,069,000.
How can I contact the broker?
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602 Martin Luther King Jr Ave
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