Updated Retail Dry Cleaning
For Sale
Contact for pricing
1152 COURT ST, Clearwater, FL 33756
Corner lot storefront with a rear level loading door and high ceilings, updated in 2024 including roof, siding, and canopy.
Property Size7,668 SF
Price / SF$234.74
Days on Market170
Property Features for 1152 COURT ST
General Information
Standard status
Active
Size
7,668 SF
Property subtype
RETAIL
Zoning
D
Additional Details
Business Included
Yes
Drive-In Doors
1
Building Details
Year Renovated
2024
Listing Agency:
Grimaldi Commercial Realty Corp
(813) 376-3386
Listed By:
Kari Grimaldi · License #BK3076744
(813) 376-3386
Source:
Moodyscre
Added: Feb 27
Changed: Aug 11
Last Checked: Aug 15 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grimaldi Commercial Realty Corp
Investment Insights
Based on property information with market context.
This updated storefront retail facility includes a rear level loading door, high ceilings, and an open floor plan. The seller reports 2024 improvements such as a new roof, new siding, outside paint, a new canopy, and updates including an air compressor, parking pavement, and signage out front. The building is described as fully updated with newer equipment supporting an ongoing dry cleaning operation.
Located in the downtown district, the property sits on a corner lot. The property is zoned D (Downtown), which the seller states permits retail sales and shops, restaurants, cafes and bars, personal services, and office uses.
For buyers and brokers evaluating the space for retail-oriented use, the combination of downtown zoning, updated exterior improvements, and an efficient loading access point supports a practical, street-facing storefront configuration.
Located in the downtown district, the property sits on a corner lot. The property is zoned D (Downtown), which the seller states permits retail sales and shops, restaurants, cafes and bars, personal services, and office uses.
For buyers and brokers evaluating the space for retail-oriented use, the combination of downtown zoning, updated exterior improvements, and an efficient loading access point supports a practical, street-facing storefront configuration.
Key Highlights
- 2024 improvements: new roof, siding, outside paint, canopy, parking pavement, and out‑front signage
- Corner lot storefront with high ceilings and an open floor plan
- Rear level loading door for easy access and loading operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,786
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,835,720
$1.8M
Cap Rate 7%
$1,311,229
$1.3M
Cap Rate 9%
$1,019,844
$1.0M
Market Conditions
NOI Build-Up for 7,668 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.0K $18.00/SF
− Vacancy
−$6.9K −$0.90/SF
EGI
$131.1K $17.10/SF
− OpEx
−$39.3K −$5.13/SF
NOI
$91.8K $11.97/SF
Area
Clearwater, FL
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,835,720
Cap Rate 7%
$1,311,229
Cap Rate 9%
$1,019,844
Alternative Uses
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $91,786 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,593 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,667
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner lot storefront with a rear level loading door and high ceilings, updated in 2024 including roof, siding, and canopy.
Where is this storefront property located?
The property is located at 1152 COURT ST Clearwater, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 2024 improvements: new roof, siding, outside paint, canopy, parking pavement, and out‑front signage; Corner lot storefront with high ceilings and an open floor plan; Rear level loading door for easy access and loading operations
