Clearwater Mixed-Use Property For
For Sale
$2,499,000
1453 S MARTIN LUTHER KING JR AVENUE, Clearwater, FL 33756
Mixed-use property featuring office, warehouse, and self-storage space.
Property Size11,000 SF
Lot Size0.71 Acres
Price / SF$227.18
Days on Market343
Property Features for 1453 S MARTIN LUTHER KING JR AVENUE
General Information
Standard status
Active
Size
11,000 SF
Lot size
0.71 Acres
Zoning
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$14,087
Amenities
Drive-Through, Fencing, Overhead Doors
Central Air
Central
Common, Secured
Building Details
Building Size
11,000 SF
Year Built
1986
Stories
2
Listing Agency:
KELLER WILLIAMS TAMPA PROP.
(727) 410-2896
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Source:
Evrealestate
Added: Sep 22, 2025
Changed: Aug 23
Last Checked: Aug 30 at 2:15PM
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 KELLER WILLIAMS TAMPA PROP.
Investment Insights
Based on property information with market context.
Located in Clearwater, Florida, the property at 1453 S. Martin Luther King Jr. Avenue features a mix of office, warehouse, and self-storage space across three buildings. The property, situated on approximately 0.71 acres, includes approximately 11,000 square feet. The main building offers approximately 5,000 square feet, with approximately 2,400 square feet of warehouse space and approximately 2,600 square feet of renovated two-story office space. The warehouse area includes 18-foot clear heights, a 12' x 10' grade-level door, epoxy floors, upgraded electrical, a new insulation liner, and skylights. The office area features a reception area, five private offices, four to five additional cubicle workstations, an oversized conference room, break room, and multiple access points. The rear buildings total approximately 6,000 square feet and include 43 self-storage units of varying sizes. The site is fully fenced and secured with a new electronic gate system, updated security, freshly paved and striped parking, and approximately 17+ parking spaces. Recent improvements include new interior and exterior paint, new storage doors, roof sealing and coating, and extensive site cleanup and landscaping. Renovations were completed in 2026. The property is suitable for contractors, service businesses, light industrial users, office/warehouse operations, and storage-oriented businesses.
Key Highlights
- Turnkey opportunity after major renovations in 2026.
- Features a mix of office, warehouse, and self‑storage space across three buildings.
- Warehouse highlights include 18‑foot clear heights, 12' x 10' grade‑level door, epoxy floors, upgraded electrical, new insulation liner, and skylights.**
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
$198,288
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
7.93%
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%
$3,965,760
$4.0M
Cap Rate 7%
$2,832,686
$2.8M
Cap Rate 9%
$2,203,200
$2.2M
Market Conditions
NOI Build-Up for 11,000 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
$286.4K $26.04/SF
− Vacancy
−$22.1K −$2.01/SF
EGI
$264.4K $24.03/SF
− OpEx
−$66.1K −$6.01/SF
NOI
$198.3K $18.03/SF
Area
Clearwater, FL
Vacancy
7.70%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$3,965,760
Cap Rate 7%
$2,832,686
Cap Rate 9%
$2,203,200
Alternative Uses
Best Use
Office B
$2.83M
$2.48M – $3.30M
NOI $198,288 @ 7.0% cap · market cap 7.93%
Second Best
Mixed Use
$1.97M
$1.73M – $2.30M
NOI $138,105 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,030 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring office, warehouse, and self-storage space.
Where is this mixed-use property located?
The property is located at 1453 S MARTIN LUTHER KING JR AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Turnkey opportunity after major renovations in 2026.; Features a mix of office, warehouse, and self‑storage space across three buildings.; Warehouse highlights include 18‑foot clear heights, 12' x 10' grade‑level door, epoxy floors, upgraded electrical, new insulation liner, and skylights.**
