Your AI Navigator in Commercial Real Estate
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

    602 Martin Luther King Jr Ave Clearwater, FL 33756

    For Sale
    $1,069,000

    High-Yield, Govt-Leased Office Investment

    Property size:
    4,400 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional 4,400 square foot office building, situated on a 0.39-acre lot at 602 S Martin Luther King Jr Avenue in Clearwater, Florida, presents a compelling investment opportunity. Currently fully leased to a government tenant under a ten-year lease, this property offers unparalleled stability and predictable income. The 7.5% capitalization rate reflects the strong cash flow potential. Recent, extensive renovations have addressed all major systems, minimizing future maintenance expenses. Upgrades include a complete overhaul of the electrical and plumbing systems, a new roof, updated air conditioning units and ductwork, new interior framing and insulation, and fresh paint throughout. This turnkey investment requires minimal ongoing capital expenditure, allowing for immediate positive cash flow. The property's location in Clearwater, Florida, offers convenient access to major transportation routes and amenities. The long-term lease with a government tenant significantly reduces the risk associated with typical commercial real estate investments, making this an ideal addition to any portfolio seeking consistent returns and minimal management demands. Detailed financial information, including rent rolls and lease specifics, is available upon request. This is a rare opportunity to acquire a high-quality, low-maintenance commercial property with exceptional long-term prospects.

    Property Features for 602 Martin Luther King Jr Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    4,400 SF
    Lot Size
    16,988 SF

    Building Details

    Year Built
    1964
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.79189
    Latitude
    27.95919

    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
    • $715,000
      Pending

      Clearwater Retail/Warehouse Opportunity

      Commercial property with retail and warehouse space in Clearwater, Florida.
      1864 Drew St, Clearwater, FL 33765
      View Details
    • $558,900
      2,777 SF

      Clearwater Mixed-Use Building For Sale

      2,700 SF mixed-use building in Clearwater's Downtown Gateway District.
      219 S Betty Ln, Clearwater, FL 33756
      View Details
    • $349,900
      Pending

      Clearwater Duplex: Investment Opportunity

      Spacious Clearwater duplex with recent upgrades and income potential.
      15696 Bolesta Rd, Clearwater, FL 33760
      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
    • $3,300,000
      Pending

      Clearwater Office Building on US-19

      Corporate office space with high-visibility signage and helipad frame.
      18401 Us 19 N, Clearwater, FL 33764
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - High-Yield, Govt-Leased Office Investment
    Where is this office property / space located?
    The property is located at 602 Martin Luther King Jr Ave Clearwater, FL.
    What is the asking price?
    The asking price for this property is $1,069,000.
    (727) 314-3942
    Request Owner's contact information
    602 Martin Luther King Jr Ave Clearwater, FL 33756
    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.
    602 Martin Luther King Jr Ave
    Clearwater, FL 33756
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    602 Martin Luther King Jr Ave Clearwater, FL 33756
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.