For Sale
$7,000,000

653 Mandalay AveClearwater, FL 33767

Prime Beachfront Motel, 22 Units

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 22-unit motel ideally situated on Clearwater Beach, Florida. Boasting a prime location on a main thoroughfare, this established property offers immediate income potential. The motel comprises two, two-story buildings totaling 11,056 square feet on a 0.36-acre lot. Built in 1948 and renovated in 1992, the property includes a swimming pool and ample parking, both on and off-street. The motel enjoys convenient beach access directly across the street, a significant draw for tourists. Zoned for hotel use, this property presents a strong return on investment. While the first floor sustained some hurricane damage, the overall structure remains sound and presents a compelling opportunity for a savvy investor. The asking price is $7,000,000, translating to $633.14 per square foot. The property's long history as a family-owned and operated business speaks to its enduring appeal and consistent performance. This is a rare chance to acquire a well-established motel in a highly desirable beach location. The property's high visibility and convenient amenities make it an attractive option for both owner-users and investors seeking a strong return. The Pinellas County location and proximity to the beach ensure consistent occupancy rates.

Highlights

  • High visibility location.
  • Main thoroughfare frontage.
  • 0.33-acre lot.
  • Ample off-street parking.

Property Details for 653 Mandalay Ave

Property type
Hospitality properties, Motels
Square Feet
11,056 SF
Year Built/Renovated
1948/1992
Buildings
2
Stories
2
Lot Size (sq. ft)
15,682 SF

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.988087882619
Longitude
-82.826616966541
653 Mandalay Ave, Clearwater, Florida

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653 Mandalay Ave
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