Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1401 Cleveland St Clearwater, FL 33755

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-traffic retail plaza, 17 units, strong NOI

    Property size:
    14,352 SF

    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

    We can help!

    Listing Contact
    David Kerr
    David Kerr

    Listing Agency: high point realty inc Listing Agent: David Kerr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    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 Profile Location Intelligence

    Current Use by Public Records

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

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    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

    Nearby Similar for Sale

    • $350,000
      1,935 SF

      Downtown Clearwater Professional Office Condo

      Combined office condo near courthouse and Morton Plant Hospital.
      611 Druid Rd E, Clearwater, FL 33756
      View Details
    • New
      $1,950,000
      9,496 SF

      Renovated Commercial Building in Clearwater

      Turnkey commercial building with flexible layout and high-traffic location.
      1710 N Fort Harrison Ave, Clearwater, FL 33755
      View Details
    • $289,000
      1,072 SF

      Clearwater Office Building For Sale

      Well-maintained office building on Missouri Avenue with high visibility.
      1536 S Missouri Ave, Clearwater, FL 33756
      View Details
    • $325,000
      237 SF

      Clearwater Beach Retail Opportunity

      Turnkey business in Clearwater Beach Marina with high foot traffic.
      25 Causeway Blvd, Clearwater Beach, FL 33767
      View Details
    • $225,000
      Pending

      Clearwater Mixed-Use Investment Opportunity

      Versatile property near Clearwater Beach, ideal for business or residence.
      711 Smith St, Clearwater, FL 33756
      View Details
    • $2,200,000
      9,799 SF

      Clearwater Mixed-Use Development Opportunity

      2.7-acre parcel in active commercial corridor with development flexibility.
      11400 Us Highway 19 N, Clearwater, FL 33764
      View Details
    • $6,000,000
      22,086 SF

      Iconic Office Building For Sale

      Landmark office building in Clearwater, Florida, with diverse businesses.
      1465 S Fort Harrison Ave, Clearwater, FL 33756
      View Details
    • $1,275,000
      Pending

      Clearwater Corner Lot with Warehouse

      Corner lot in Clearwater with warehouse, offices, and storage.
      2051 Range Rd, Clearwater, FL 33765
      View Details
    • $850,000
      2,463 SF

      Clearwater Fourplex Investment Opportunity

      Income-producing fourplex in Clearwater, Florida with recent updates.
      405 S Orion Ave, Clearwater, FL 33765
      View Details
    • $199,000
      960 SF

      Clearwater Office Condo For Sale

      Office condo in downtown Clearwater near hospitals and beaches.
      611 Druid Rd E, Clearwater, FL 33756
      View Details
    • $12,000,000
      4,360 SF

      Clearwater Beach Motel For Sale

      22-unit motel on Clearwater Beach with pool and recent updates.
      653 Mandalay Ave, Clearwater, FL 33767
      View Details
    • $589,000
      1,474 SF

      Clearwater Commercial Building with Flexible Zoning

      Freestanding commercial building with owner financing in updated Clearwater area.
      1356 Cleveland St, Clearwater, FL 33755
      View Details

    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%.
    (727) 466-6697 Call to check price and availability
    Request Owner's contact information
    1401 Cleveland St Clearwater, FL 33755
    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.
    1401 Cleveland St
    Clearwater, FL 33755
    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
    1401 Cleveland St Clearwater, FL 33755
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Kerr
    David Kerr
    Real Estate License ID: BK3235605
    (727) 466-6697 (727) 804-2116
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!