1401 Cleveland St Clearwater, FL 33755
- Lifestyle centers
- 14,352 SF
- 0.97 lot acres
Current Use by Public Records
- International Institute-Bau / Environmental Program
- Katie's Cookies / Bakery
- The Mystic Lizard LLC / Metaphysical Supply Store / Service Establishment
Property Details for 1401 Cleveland St
- Year built
- 1958
- Lot size
- 0.97 lot acres
- Property size
- 14,352 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Clearwater
- County
- Pinellas
- State
- Florida
- Longitude
- -82.7785
- Latitude
- 27.9656
