504 Gulfview BlvdClearwater, FL 33767

Property Details for 504 Gulfview Blvd

Year built

1974

Construction

CONCRETE BLOCKS

Lot size

0.89 AC

Property size (Sq ft)

23,695 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

08-29-15-17640-000-0090

APU

82915176400000090

Description

This exceptional investment opportunity encompasses two adjacent parcels totaling 0.89 acres at 504 and 455 S Gulfview Boulevard in Clearwater, Florida. The combined property boasts 100 units, comprising 99 hotel rooms and one retail space currently operating as a leased ice cream shop. The two buildings offer a diverse range of amenities, including two swimming pools. The property at 504 S Gulfview Boulevard features 65 hotel units and enjoys desirable waterfront access. The adjacent building at 455 S Gulfview Boulevard contributes an additional 34 hotel units and the retail space. Both parcels provide ample off-street parking for guests and patrons. With a total square footage of 38,594, this property presents a significant opportunity for investors seeking a well-established, high-performing hotel complex in a prime beachfront location. The existing lease on the retail space provides immediate rental income. The property's size, location, and existing occupancy make it an attractive investment prospect with strong potential for future growth and profitability. The combined hotel units and retail space offer a diverse revenue stream, enhancing the overall value and appeal of this exceptional offering. This is a rare chance to acquire a substantial beachfront property in a highly sought-after area of Clearwater Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $6,115,436

  6.5%

  $5,645,018

  7%

  $5,241,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,140,749

  Geo Method

  $6,140,749

• Alternative Use

  Use

  Valuation

  Residential

  $6,162,720

  Hospitality

  $5,645,018

  Educational

  $4,696,588

  Medical

  $4,858,112

  Retail

  $7,305,804

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9688

Longitude

-82.8281

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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