Mixed-Use Income Property with
For Sale
$925,000
1548 S Missouri Avenue, Clearwater, FL 33756
Two block-constructed buildings combine six multifamily units with one commercial space, with new roofs installed within the past year.
Property Size4,677 SF
Price / SF$197.78
Days on Market175
Property Features for 1548 S Missouri Avenue
General Information
Standard status
Active
Size
4,677 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
5
Building Details
Year Built
1954
Construction
block construction
Listing Agency:
BLUE PEAK REALTY LLC
(727) 777-7100
Listed By:
Nicholas Catando
Source:
Xome
Added: Feb 18
Changed: Jul 21
Last Checked: Aug 12 at 3:54AM
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 BLUE PEAK REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use income property includes two buildings totaling five multifamily units and one commercial space. The property at 1540–1548 S. Missouri Avenue features two 1-bedroom/1-bath units, one studio unit, and one commercial space. The second building at 1172 Howard Street includes two 2-bedroom/1-bath units. Both buildings have block construction, separate water and electric meters, and have new roofs installed within the past year.
The multifamily interiors have updates including new kitchens, bathrooms, and windows. The commercial space is already included within the first building’s mix, supported by the building’s separate utilities structure.
Overall, the asset is configured as an income-producing mixed-use parcel with unit-level upgrades and recent roof replacements, designed to help reduce near-term capital demands.
The multifamily interiors have updates including new kitchens, bathrooms, and windows. The commercial space is already included within the first building’s mix, supported by the building’s separate utilities structure.
Overall, the asset is configured as an income-producing mixed-use parcel with unit-level upgrades and recent roof replacements, designed to help reduce near-term capital demands.
Key Highlights
- Mixed‑use property with 5 multifamily units and 1 commercial space across two buildings
- 1540–1548 S. Missouri Ave includes two 1BD/1BA units, one studio, and one commercial space
- 1172 Howard St includes two 2BD/1BA units
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
$58,720
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
6.35%
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%
$1,174,400
$1.2M
Cap Rate 7%
$838,857
$838.9K
Cap Rate 9%
$652,444
$652.4K
Market Conditions
NOI Build-Up for 4,677 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
$101.0K $21.60/SF
− Vacancy
−$7.1K −$1.51/SF
EGI
$94.0K $20.09/SF
− OpEx
−$35.2K −$7.53/SF
NOI
$58.7K $12.56/SF
Area
Clearwater, FL
Vacancy
7.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,174,400
Cap Rate 7%
$838,857
Cap Rate 9%
$652,444
Alternative Uses
Best Use
Mixed Use
$838.9K
$734.0K – $978.7K
NOI $58,720 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$824.6K
$721.6K – $962.1K
NOI $57,724 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,852 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
962
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two block-constructed buildings combine six multifamily units with one commercial space, with new roofs installed within the past year.
Where is this mixed-use property located?
The property is located at 1548 S Missouri Avenue Clearwater, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Mixed‑use property with 5 multifamily units and 1 commercial space across two buildings; 1540–1548 S. Missouri Ave includes two 1BD/1BA units, one studio, and one commercial space; 1172 Howard St includes two 2BD/1BA units
