Clearwater Mixed-Use Redevelopment
For Sale
Contact for pricing
Pending
409 S Madison Ave, Clearwater, FL 33756
Rare Clearwater site suitable for mixed-use or multi-family redevelopment.
Property Size3,500 SF
Lot Size0.34 Acres
Days on Market1142
Property Features for 409 S Madison Ave
General Information
Standard status
Pending
Size
3,500 SF
Lot size
0.34 Acres
Property subtype
Mixed Use, Multifamily, Office, Retail
Investment Type
Redevelopment
Listing Agency:
The Boardwalk Company
Listed By:
John Quattrocki · License #FL CQ1026002
Source:
Crexi
Added: Jul 20, 2023
Changed: Aug 8
Last Checked: Jul 24 at 6:40PM
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 The Boardwalk Company
Investment Insights
Based on property information with market context.
This property is located in Clearwater’s Central Business District and offers redevelopment potential. The site has existing buildings totaling approximately 3,500 square feet. It is a corner property with 150 feet of frontage on South Madison Avenue and 100 feet along Gould Street. The corner lot measures 15,000 square feet and is suitable for redevelopment into a mixed-use or multi-family project. The central Clearwater location provides easy access to roadway systems. An adjacent parking lot is available for purchase.
Key Highlights
- Rare redevelopment opportunity in Clearwater's Central Business District.
- 15,000 SF corner lot suitable for mixed‑use or multi‑family redevelopment.
- Corner property with 150 feet of frontage on South Madison Ave and 100 feet on Gould St.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,092
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,840
$1.3M
Cap Rate 7%
$901,314
$901.3K
Cap Rate 9%
$701,022
$701.0K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$91.1K $26.04/SF
− Vacancy
−$7.0K −$2.01/SF
EGI
$84.1K $24.03/SF
− OpEx
−$21.0K −$6.01/SF
NOI
$63.1K $18.03/SF
Area
Clearwater, FL
Vacancy
7.70%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,840
Cap Rate 7%
$901,314
Cap Rate 9%
$701,022
Alternative Uses
Best Use
Office B
$901.3K
$788.7K – $1.05M
NOI $63,092 @ 7.0% cap · market cap 9.08%
Second Best
Mixed Use
$627.8K
$549.3K – $732.4K
NOI $43,943 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$982.0K
$859.2K – $1.15M
NOI $68,737 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,378
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Rare Clearwater site suitable for mixed-use or multi-family redevelopment.
Where is this mixed-use property located?
The property is located at 409 S Madison Ave Clearwater, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Rare redevelopment opportunity in Clearwater's Central Business District.; 15,000 SF corner lot suitable for mixed‑use or multi‑family redevelopment.; Corner property with 150 feet of frontage on South Madison Ave and 100 feet on Gould St.
