Fully Stabilized 10-Unit
For Sale
$1,900,000
300 S NIMBUS AVE, Clearwater, FL 33765
Ten renovated units plus one original-condition unit in a two-story concrete-block walk-up with central HVAC and carport parking.
Property Size7,359 SF
Days on Market103
Property Features for 300 S NIMBUS AVE
General Information
Standard status
Active
Size
7,359 SF
Property subtype
Multi-Family 5+
Additional Details
Highway Access
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$21,771
Amenities
updated kitchens
stainless appliances
quartz counters
tile backsplash
vinyl-plank flooring
in-unit washer/dryer
central HVAC
carport parking
Building Details
Building Size
7,359 SF
Year Built
1964
Stories
2
Construction
concrete-block
Tenancy
Multi
Listing Agency:
RIDER REAL ESTATE
Listed By:
William Gryboski · License #3463707
(404) 368-8072
Source:
Judibeck
Added: Jul 11
Changed: Oct 14
Last Checked: Oct 19 at 4:32PM
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 RIDER REAL ESTATE
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Investment Insights
Based on property information with market context.
This fully stabilized 10-unit apartment community is a two-story, concrete-block walk-up built in 1964. The property includes nine renovated units featuring updated kitchens with stainless appliances, quartz countertops, tile backsplash, vinyl-plank flooring, and in-unit washer/dryer. The remaining unit is a larger 2BR/2BA in original condition, offering renovate-to-premium upside. The current unit mix consists of three 1BR/1BA units, six 2BR/1BA units, and one 2BR/2BA unit. Central HVAC serves the community, and on-site parking is available via carport spaces.
Located in central Clearwater’s Sky Crest submarket, the property is minutes from Gulf-to-Bay Blvd and US-19, as well as downtown Clearwater and the Gulf beaches. Five units are currently month-to-month. The offering memorandum and financials are available on request, and showings are by appointment through the listing office; please do not disturb tenants.
Located in central Clearwater’s Sky Crest submarket, the property is minutes from Gulf-to-Bay Blvd and US-19, as well as downtown Clearwater and the Gulf beaches. Five units are currently month-to-month. The offering memorandum and financials are available on request, and showings are by appointment through the listing office; please do not disturb tenants.
Key Highlights
- Fully‑stabilized 10‑unit apartment community built in 1964
- Two‑story concrete‑block walk‑up with central HVAC and on‑site carport parking
- Unit mix includes three 1BR/1BA, six 2BR/1BA, and one 2BR/2BA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,825
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,500
$1.8M
Cap Rate 7%
$1,297,500
$1.3M
Cap Rate 9%
$1,009,167
$1.0M
Market Conditions
NOI Build-Up for 7,359 SF
Gross rent
$176.6K $24.00/SF
− Vacancy
−$11.5K −$1.56/SF
EGI
$165.1K $22.44/SF
− OpEx
−$74.3K −$10.10/SF
NOI
$90.8K $12.34/SF
Area
Clearwater, FL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,500
Cap Rate 7%
$1,297,500
Cap Rate 9%
$1,009,167
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.51M
NOI $90,825 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,524 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 33765, FL
13,844
Population
6,873
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
3,296
Density / Sq Mi
$61,910
Median Household Income
$40,535
Median Earnings
$1,585
Median Rent
$290,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Ten renovated units plus one original-condition unit in a two-story concrete-block walk-up with central HVAC and carport parking.
Where is this apartment building located?
The property is located at 300 S NIMBUS AVE Clearwater, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Fully‑stabilized 10‑unit apartment community built in 1964; Two‑story concrete‑block walk‑up with central HVAC and on‑site carport parking; Unit mix includes three 1BR/1BA, six 2BR/1BA, and one 2BR/2BA
