For Sale
$1,600,000

1446 Gulf To Bay BlvdClearwater, FL 33755

Prime Clearwater retail plaza, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 6,564 square foot shopping center, located at 1446 Gulf to Bay Boulevard in Clearwater, Florida (zip code 33755), presents a lucrative investment opportunity. The property, built in 1955 and extensively renovated in 2022, comprises eight individual units within a single, one-story building situated on a 0.38-acre lot. Each unit boasts independent electric and water service, ensuring operational flexibility for tenants. Ample parking is available both in front and behind the building. The property's strong location on a newly landscaped and improved section of Gulf to Bay Boulevard, between Court and Cleveland Streets, ensures high visibility and accessibility. The current NOI is $86,400, yielding a 5.40% cap rate, while the pro-forma NOI is projected at $124,000, resulting in a 7.75% pro-forma cap rate. The asking price is $1,600,000, translating to $243.75 per square foot. Detailed financial statements and rent rolls are readily available upon request. Seller financing is a possibility. This is a remarkable opportunity to acquire a well-maintained, high-traffic retail property with significant upside potential in a desirable Clearwater location.

Highlights

  • Eight-unit retail plaza on improved Gulf to Bay Blvd, between Court and Cleveland Streets.
  • Each unit features independent electric and water meters.
  • Ample front and rear parking is available.
  • Recently updated; rent roll and financials provided upon request.
  • Seller financing is a possibility.

Property Details for 1446 Gulf To Bay Blvd

Property type
Lifestyle centers, Power centers
Square Feet
6,564 SF
Year Built/Renovated
1955/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
16,553 SF
Units
8

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.963552456098
Longitude
-82.777894449205
1446 Gulf To Bay Blvd, Clearwater, Florida

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1446 Gulf To Bay Blvd
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