Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    400 S Meteor Ave Clearwater, FL 33765

    Sponsored
    For Sale
    $1,200,000

    Multi-Family 5+ - CLEARWATER, FL

    Property size:
    4,098 SF
    Lot size:
    0.25 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 11 at 2:06 am

    Property Features for 400 S Meteor Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    13-29-15-82620-002-0070
    Interior features
    Ceiling Fans(s), Kitchen/Family Room Combo, Living Room/Dining Room Combo, Solid Surface Counters, Solid Wood Cabinets
    Exterior features
    Fence, Garden, Private Entrance, Private Mailbox, Sidewalk
    Fencing
    Fenced
    Size
    4,098 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1969
    Number of units
    6
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Gail Johnston

    Charles Rutenberg Realty, Inc (727) 538-9200

    Listing agent Gail Johnston (727) 538-9200 License #599968

    Listing date Feb 10, 2026

    MLS# TB8472934 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Clearwater Income Generating Multi-Family Property

    This multi-family property in Clearwater, Florida, features six units, including one 2-bedroom/2-bath unit, one 1-bedroom/2-bath unit, and four 1-bedroom/1-bath units. All units have been updated and are consistently occupied. Constructed of concrete block, the building offers durability and requires minimal immediate maintenance. The property is located in a high-demand area, minutes from US-19, providing convenient access to Tampa and St. Pete. The location is near the revitalized Downtown Clearwater, The Sound at Coachman Park, and Clearwater Beach. The property has consistent high occupancy rates and reliable rental income. Tenants benefit from convenient access to local dining, shopping, and major employment hubs such as Morton Plant Hospital. The laundry room is equipped with washers and dryers accessible via a user-friendly cell phone application. Electric is separately metered for each unit. The property is situated on a 0.25-acre lot. The property's size is 4098 square feet. This property is suited for investor portfolio expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.757828
    Latitude
    27.961579

    Nearby Similar for Sale

    • $899,990
      2,094 SF

      Clearwater Quadplex Near Pinellas Trail

      Income-generating quadplex with renovated units, close to amenities and beaches.
      2065 N Betty Ln, Clearwater, FL 33755
      View Details
    • $425,000
      Pending

      Turnkey Clearwater Duplex Investment Opportunity

      Well-maintained duplex in Clearwater, offering immediate income potential.
      1119 Drew St, Clearwater, FL 33755
      View Details
    • $850,000
      2,463 SF

      Clearwater Fourplex Investment Opportunity

      Income-producing fourplex in Clearwater, Florida with recent updates.
      405 S Orion Ave, Clearwater, FL 33765
      View Details
    • $689,900
      2,656 SF

      Clearwater Triplex: Turnkey Investment

      Turnkey triplex in Clearwater/Dunedin corridor with long-term renters.
      2725 Belle Haven Dr, Clearwater, FL 33763
      View Details
    • $225,000
      Pending

      Clearwater Mixed-Use Investment Opportunity

      Versatile property near Clearwater Beach, ideal for business or residence.
      711 Smith St, Clearwater, FL 33756
      View Details
    • $1,275,000
      Pending

      Clearwater Corner Lot with Warehouse

      Corner lot in Clearwater with warehouse, offices, and storage.
      2051 Range Rd, Clearwater, FL 33765
      View Details
    • $754,000
      2,300 SF

      Clearwater Auto Shop and Business

      Established auto service business and property on high-traffic Missouri Ave.
      1371 S Missouri Ave, Clearwater, FL 33756
      View Details
    • $495,000
      Pending

      Clearwater Duplex with Attached Garages

      Well-maintained Clearwater duplex with attached garages and strong rental income potential.
      1300 Amble Ln, Clearwater, FL 33755
      View Details
    • $1,500,000
      3,561 SF

      Clearwater Freestanding Building For Sale

      Freestanding building in Clearwater with high visibility and ample parking.
      1201 S Myrtle Ave, Clearwater, FL 33756
      View Details
    • Contact for pricing
      0.02 Acres

      Land in 55+ Community

      Land in a 55+ mobile home cooperative community.
      16940 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $1,200,000
      5,182 SF

      Clearwater Multifamily Investment Opportunity

      Income-producing multifamily property in Clearwater's Skycrest area, built in 1970.
      304 S Corona Ave, Clearwater, FL 33765
      View Details
    • $1,549,000
      4,565 SF

      Clearwater Class A Office Building

      Move-in ready office building near Morton Plant Hospital.
      1314 S Fort Harrison Ave, Clearwater, FL 33756
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turnkey 6-unit multi-family property in Clearwater, Florida.
    Where is this apartment building located?
    The property is located at 400 S Meteor Ave Clearwater, FL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Turnkey 6-Plex Income Machine: Fully updated and consistently occupied units provide immediate ROI.; - Strategic Central Clearwater Location: Minutes from US-19, Downtown Clearwater, Coachman Park, and Clearwater Beach, offering easy access to Tampa and St. Pete.; - Desirable Unit Mix & High Occupancy: Features a mix of 2-bed/2-bath and 1-bed units with consistent high occupancy rates and reliable rental income.
    (727) 538-9200
    Request Owner's contact information
    400 S Meteor Ave Clearwater, FL 33765
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    400 S Meteor Ave
    Clearwater, FL 33765
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 S Meteor Ave Clearwater, FL 33765
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gail Johnston
    Real Estate License ID: 599968
    (727) 538-9200
    Learn more
    Google sign-in failed. Please try again or use another login method.