Updated 18-Unit Apartment
For Sale
$3,270,000
600 Wildwood Way, Clearwater, FL 33756
Recently improved multifamily property with renovated units and a tenant parking lot near Clearwater Beach.
Property Size18,540 SF
Days on Market72
Property Features for 600 Wildwood Way
General Information
Standard status
Active
Size
18,540 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
18
Amenities
parking lot
Building Details
Building Size
18,540 SF
Year Built
1972
Listing Agency:
Grimaldi Commercial Realty Corp
Listed By:
David Rosenthal · License #SL3346176
(813) 245-7333
Source:
Grimaldicommercialrealty
Added: Aug 8
Changed: Oct 1
Last Checked: Oct 16 at 6:50AM
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 Grimaldi Commercial Realty Corp
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Investment Insights
Based on property information with market context.
This 18-unit apartment property in Clearwater, Florida, was built in 1972 and has received substantial improvements during the past three years. Unit upgrades include new flooring, kitchens, appliances, electrical panels, and updated HVAC systems. The property is configured for apartment use and includes a parking lot serving tenants and guests.
The asset is located minutes from Clearwater Beach, providing proximity to one of the area’s best-known destinations. Projected cap rates are 6% for 2026, 6.5% for 2027, and 7% for 2028.
The asset is located minutes from Clearwater Beach, providing proximity to one of the area’s best-known destinations. Projected cap rates are 6% for 2026, 6.5% for 2027, and 7% for 2028.
Key Highlights
- 18‑unit apartment property in Clearwater, FL
- Unit improvements completed during the past 3 years
- New flooring, kitchens, appliances, and electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,821
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,576,420
$4.6M
Cap Rate 7%
$3,268,871
$3.3M
Cap Rate 9%
$2,542,456
$2.5M
Market Conditions
NOI Build-Up for 18,540 SF
Gross rent
$445.0K $24.00/SF
− Vacancy
−$28.9K −$1.56/SF
EGI
$416.0K $22.44/SF
− OpEx
−$187.2K −$10.10/SF
NOI
$228.8K $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%
$4,576,420
Cap Rate 7%
$3,268,871
Cap Rate 9%
$2,542,456
Alternative Uses
Best Use
Apartment 5plus
$3.27M
$2.86M – $3.81M
NOI $228,821 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.20M
$4.55M – $6.07M
NOI $364,109 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,552
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
Frequently Asked Questions
What type of property is this?
Apartment building - Recently improved multifamily property with renovated units and a tenant parking lot near Clearwater Beach.
Where is this apartment building located?
The property is located at 600 Wildwood Way Clearwater, FL.
What is the asking price?
The asking price for this property is $3,270,000.
What are key features of this property?
This property features: 18‑unit apartment property in Clearwater, FL; Unit improvements completed during the past 3 years; New flooring, kitchens, appliances, and electrical panels
