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    708 Chestnut St Clearwater, FL 33756

    For Sale
    $7,900,000

    Downtown Clearwater mixed-use, high cap rate.

    Property size:
    17,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional mixed-use property, located at 708 Chestnut Street in Downtown Clearwater, Florida (zip code 33756), presents a compelling investment opportunity. Currently under construction and slated for completion by February 2025, this 17,000 square foot building boasts a prime corner location just one mile from Clearwater Beach, situated on two high-traffic streets. The building comprises 14 apartments and 4 storefronts, offering a diverse income stream. The asking price is $7,900,000, translating to a price per square foot of $464.71. This translates to a projected cap rate of 7.00%. Currently vacant, this property offers a unique chance to establish tenancy and maximize rental income upon completion. The building's strategic location in the vibrant Downtown Clearwater area ensures strong potential for both residential and commercial occupancy. Pinellas County's thriving economy and tourism further enhance the investment prospects. This is an exceptional opportunity to acquire a high-yield mixed-use property in a rapidly growing Florida market. The property is situated at 27.96110175742512 latitude and -82.79583919896947 longitude.

    Property Features for 708 Chestnut St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    17,000 SF

    HighLights

    • Excellent location.
    • High‑traffic area with strong visibility.
    • Abundant parking available for tenants and customers.
    • Modern, updated interior finishes.
    • Flexible floor plan adaptable to various business needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.795839198969
    Latitude
    27.961101757425

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    FAQs

    What type of property is this?
    Mixed-use property - Downtown Clearwater mixed-use, high cap rate.
    Where is this mixed-use property located?
    The property is located at 708 Chestnut St Clearwater, FL.
    What is the asking price?
    The asking price for this property is $7,900,000.
    What are key features of this property?
    This property features: Excellent location.; High-traffic area with strong visibility.; Abundant parking available for tenants and customers.
    Request Owner's contact information
    708 Chestnut St Clearwater, FL 33756
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    Realmo Value Estimation

    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.

    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.

    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
    708 Chestnut St Clearwater, FL 33756
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