1417 Cleveland StClearwater, FL 33755

Property Details for 1417 Cleveland St

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.94 AC

Property size (Sq ft)

12,716 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

14-29-15-47016-002-0010

APU

142915470160020010

Description

This exceptional retail plaza, located at 1417 Cleveland Street in the revitalized Gateway area of downtown Clearwater, Florida, presents a unique investment opportunity. Spanning 14,400 square feet on a 0.94-acre lot, the property boasts 17 individual retail units, each equipped with its own separate power and water meters, offering maximum flexibility and efficiency for tenants. Recent upgrades have enhanced the property's appeal and functionality. The plaza enjoys a highly desirable location, directly adjacent to the newly established Marche, a vibrant hub for weekend markets and community events situated at the corner of Cleveland Street and Gulf to Bay Boulevard. This strategic positioning ensures high visibility and significant foot traffic, maximizing the potential for tenant success. Currently, only one unit remains vacant, and it is under lease negotiation, indicating strong market demand. The asking price for this exceptional property is $2,990,000. This represents a compelling investment in a thriving downtown area experiencing significant growth and redevelopment. The property's prime location, modern upgrades, and high occupancy rate make it an attractive proposition for discerning investors seeking a stable and profitable retail investment in the heart of Clearwater.

• CAP approach

  CAP return

  Valuation

  6%

  $4,247,408

  6.5%

  $3,920,684

  7%

  $3,640,635

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,533,848

  Geo Method

  $3,533,848

• Alternative Use

  Use

  Valuation

  Residential

  $3,307,244

  Hospitality

  $3,029,418

  Educational

  $2,520,440

  Medical

  $2,607,122

  Retail

  $3,920,684

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9654

Longitude

-82.7787

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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