Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Motel with Dock Title is generated by Realmo AI

    345 HAMDEN DRIVE, Clearwater Beach, FL 33767

    View on Map
    Claim this Listing
    For Sale
    $14,300,000

    22-unit waterfront motel featuring a renovated heated pool and dock.

    Type:Commercial
    Property size:
    7,417 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $1,928/SF
    Added:
    Mar 20, 2025
    Days on Market:
    442
    Last Refresh:
    May 11 at 12:33 am

    Property Features for 345 HAMDEN DRIVE

    General Information

    Standard status
    Active
    Size
    7,417 SF
    Lot size
    0.38 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    GEORGETTE GILLIS
    GEORGETTE GILLIS

    Listing agent GEORGETTE GILLIS License #SL3105784

    Listing office VIEWPOINT REALTY INTERNATIONAL

    Listing date Mar 20, 2025

    Source Corcoran

    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 VIEWPOINT REALTY INTERNATIONAL

    HighLights

    • Waterfront location
    • 22‑unit motel
    • Waterfront dock with boat lift
    • Heated pool renovated in 2024
    • Parking resurfaced in 2024
    • Year Built 1955

    Overview

    This commercial property features a 22-unit motel situated on a waterfront location. The property includes a waterfront dock equipped with a boat lift. A heated pool was renovated in 2024. The parking area was resurfaced in 2024. The property size is 7417 square feet. The dock measurements are approximate and need to be verified by the buyer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sta n Pla ... Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Gulfview Hotel - On the Beach — 625 S Gulfview Blvd, Clearwater Beach, FL 33767
    • Sand Key Beach — Clearwater, FL 33767
    • Hampton Inn & Suites Clearwater Beach — 635 S Gulfview Blvd, Clearwater Beach, FL 33767
    • Winter The Dolphin's Beach Club, Ascend Hotel Collection — 655 S Gulfview Blvd, Clearwater Beach, FL 33767
    • Quality Hotel Clearwater Beach Resort — 655 S Gulfview Blvd, Clearwater, FL 33767

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater Beach
    County
    Pinellas
    State
    Florida
    Longitude
    -82.8276
    Latitude
    27.9716

    Nearby Similar for Sale

    • $500,160
      4,788 SF

      Beachfront Retail Opportunity in Clearwater

      Premier retail suites available in luxury Gulf-front hotel.
      400 CORONADO DRIVE, CLEARWATER BEACH, FL 33767
      View Details
    • $749,999
      1,470 SF

      CLEARWATER BEACH Triplex Investment Opportunity

      Multifamily zoned triplex one block from the beach.
      712 MANDALAY AVENUE, CLEARWATER BEACH, FL 33767
      View Details
    • $325,000
      1,350 SF

      Horizon House Condo with Water Views

      Spacious condo with water views and community amenities near Clearwater Beach.
      31 ISLAND WAY 502, CLEARWATER BEACH, FL 33767
      View Details
    • $3,500,000
      2,605 SF

      Luxury Gulf-Front Residence

      Elegant 3-bedroom condo with breathtaking Gulf views.
      11 BAYMONT STREET 902, CLEARWATER BEACH, FL 33767
      View Details
    • $7,900,000
      11,792 SF

      Clearwater Beach Commercial Opportunity

      Commercial property for sale in Clearwater Beach, Florida.
      50 ROYAL WAY, CLEARWATER BEACH, FL 33767
      View Details
    • $899,000
      1,888 SF

      Clearwater Beach Duplex Opportunity

      Income property one block from Clearwater Beach, perfect for rentals.
      664 MANDALAY AVENUE, CLEARWATER BEACH, FL 33767
      View Details
    • $510,000
      1,150 SF

      Island Walk Condo with Bay Views

      Charming condo with renovated kitchen and stunning Clearwater Bay views.
      690 ISLAND WAY 812, CLEARWATER BEACH, FL 33767
      View Details
    • $1,200,000
      1,440 SF

      Ultimar Condominium with Water Views

      Two-bedroom condominium with water views and extensive amenities.
      1540 GULF BOULEVARD 2107, CLEARWATER BEACH, FL 33767
      View Details
    • $1,930,000
      1,942 SF

      Updated Beach-Front Condo with Views

      Updated 3-bedroom condo with panoramic Gulf of Mexico views.
      1520 GULF BOULEVARD 1602, CLEARWATER BEACH, FL 33767
      View Details
    • $24,600,000
      18,412 SF

      Clearwater Beach Motel For Sale

      41-unit motel near the beach with heated pool.
      648 POINSETTIA AVENUE, CLEARWATER BEACH, FL 33767
      View Details
    • $599,999
      885 SF

      Income Property Near Clearwater Beach

      Income-producing property with amenities and convenient location near Clearwater Beach.
      1290 GULF BOULEVARD 2004, CLEARWATER BEACH, FL 33767
      View Details
    • $3,500,000
      2,734 SF

      Clearwater Beach Duplex Rental Opportunity

      Profitable short-term rental property near Clearwater Beach.
      42 SOMERSET STREET, CLEARWATER BEACH, FL 33767
      View Details

    FAQs

    What type of property is this?
    Motel - 22-unit waterfront motel featuring a renovated heated pool and dock.
    Where is this motel located?
    The property is located at 345 HAMDEN DRIVE Clearwater Beach, FL.
    What is the asking price?
    The asking price for this property is $14,300,000.
    What are key features of this property?
    This property features: Waterfront location; 22‑unit motel; Waterfront dock with boat lift
    (727) 584-7355
    We can help!
    Listing Contact
    GEORGETTE GILLIS
    GEORGETTE GILLIS
    Real Estate License ID: SL3105784
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    345 HAMDEN DRIVE, CLEARWATER BEACH, FL 33767
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!