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    1401 Cleveland St Clearwater, FL 33755

    Sponsored
    For Sale
    $2,990,000

    High-traffic retail plaza, 17 units, strong NOI

    Property size:
    14,352 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 14,352 square foot shopping center in Clearwater, Florida, presents a compelling investment opportunity. Located at 1401 Cleveland St, 33755, this property boasts 17 individual units, each equipped with separate power and water meters, ensuring efficient management and tenant control. Built in 1958 and situated on a 0.97-acre lot, the center enjoys a prime location in the revitalized Gateway area of downtown Clearwater, directly adjacent to the newly established Marche, a vibrant weekend market hub. Recent upgrades enhance the property's appeal, and with currently 100% occupancy and a projected NOI of $244,000 (8.16% pro-forma cap rate), this asset offers significant potential for growth. The asking price is $2,990,000, translating to $208.33 per square foot. The current NOI is $198,000, with a 6.62% cap rate. This property is an excellent addition to any retail portfolio. One vacancy is expected to be filled shortly.

    Property Features for 1401 Cleveland St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    14,352 SF
    Lot Size
    42,253 SF

    Building Details

    Year Built
    1958
    Units
    17

    HighLights

    • $2,990,000 asking price for this 14,352 square foot retail shopping center in Clearwater, Florida.
    • Located at 1401 Cleveland St, Clearwater, FL 33755, this property features 17 units, each with separate utilities.
    • Currently boasting 100% occupancy, the property generates a $198,000 NOI, with a pro‑forma NOI of $244,000 and a pro‑forma cap rate of 8.16%.
    • Built in 1958, this 0.97‑acre property benefits from recent upgrades and a prime location in Clearwater's revitalized Gateway area, adjacent to a new weekend market.
    • The property's price per square foot is $208.33, and it offers a current cap rate of 6.62%.
    Property Profile Location Intelligence

    Current Use by Public Records

    International Institute-Bau Environmental Program Katie's Cookies Bakery The Mystic Lizard LLC Metaphysical Supply Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.778451701196
    Latitude
    27.965625399197

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic retail plaza, 17 units, strong NOI
    Where is this lifestyle center located?
    The property is located at 1401 Cleveland St Clearwater, FL.
    What is the asking price?
    The asking price for this property is $2,990,000.
    What are key features of this property?
    This property features: $2,990,000 asking price for this 14,352 square foot retail shopping center in Clearwater, Florida.; Located at 1401 Cleveland St, Clearwater, FL 33755, this property features 17 units, each with separate utilities.; Currently boasting 100% occupancy, the property generates a $198,000 NOI, with a pro-forma NOI of $244,000 and a pro-forma cap rate of 8.16%.
    Request Owner's contact information
    1401 Cleveland St Clearwater, FL 33755
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    Clearwater, FL 33755
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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
    1401 Cleveland St Clearwater, FL 33755
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