Clearwater Retail Plaza For
1401 Cleveland St Clearwater, FL 33755
1401 Cleveland St, Clearwater, FL, 33755
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For Sale
Contact for pricing
Retail plaza in downtown Clearwater with 17 units.
Property Size14,352 SF
Price / SF$208.33
Days on Market1312
Property Features for 1401 Cleveland St
General Information
- Standard status
- Active
- Size
- 14,352 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1958
Listing Agency
High Point Realty Inc
(727) 466-6697
Listed by
David Kerr · License #FL BK3235605
Source
Crexi
Added: Dec 12, 2022 Checked: Jul 16 at 3:07 am
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 High Point Realty Inc
Investment Insights
Based on property information with market context.
This retail plaza is located in the improved Gateway area of downtown Clearwater. The property contains 17 separate units, each equipped with individual power and water meters. Recent upgrades have been completed. The plaza is situated next to the newly created Marche, which hosts weekend markets and events at the corner of Cleveland Street and Gulf to Bay. The property has a total size of 14352 square feet and currently has only one vacancy, which is about to be leased.
Key Highlights
- Prime location in the newly improved Gateway area of downtown Clearwater.
- 17 separate units, each with individual power and water meters.
- High foot traffic due to proximity to the newly created Marche for weekend markets and events.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $258.3k | $18.00 |
| − Vacancy | −$12.9k | −$0.90 |
| EGI | $245.4k | $17.10 |
| − OpEx | −$73.6k | −$5.13 |
| NOI | $171.8k | $11.97 |
14,352 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.45M
$2.15M – $2.86M
NOI $171,793 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.03M
$3.52M – $4.70M
NOI $281,860 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
International Institute-Bau
Sustainability Organization
Katie's Cookies
Bakery
The Mystic Lizard LLC
Metaphysical Supply Store
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FAQs
What type of property is this?
Shopping center - Retail plaza in downtown Clearwater with 17 units.
Where is this shopping center located?
The property is located at 1401 Cleveland St Clearwater, FL.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Prime location in the newly improved Gateway area of downtown Clearwater.; 17 separate units, each with individual power and water meters.; High foot traffic due to proximity to the newly created Marche for weekend markets and events.
