Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1575 Ft Harrison Ave Clearwater, FL 33756-2004

    • Turn key restaurants
    • 3,371 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2025
    $1,790,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4253567
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Daily News Restaurant - Nana’s Kitchen / Restaurant
    • Shnookums / Restaurant

    Property Details for 1575 Ft Harrison Ave

    Year built
    1984
    Construction
    CONCRETE BLOCKS
    Lot size
    0.45 lot acres
    Property size
    3,371 SF
    Property type
    Turn key restaurants
    APN
    21-29-15-00000-440-2100
    APU
    212915000004402100

    Description

    This exceptional Clearwater restaurant presents a unique investment opportunity. The 3,371 square foot, free-standing building sits on a 0.45-acre lot at 1575 S Ft Harrison Ave, in the highly desirable 33756 zip code. Built in 1984, this single-tenant property boasts 100% occupancy with a current NNN lease in place for five years, plus two five-year options, featuring a 3% annual rent increase. The restaurant, a renowned establishment serving Mediterranean and American cuisine, including artisan pasta and seafood, also features a full-service bar. Its elegant interior design creates a warm and inviting ambiance. The property's prime location, near affluent communities and the Pelican Club, ensures high visibility and consistent clientele. The asking price of $1,600,000 ($420.83/sq ft) includes the real estate, business license, and equipment. This turnkey operation offers significant income potential and a strong reputation within the Tampa Bay area. The property's total square footage is 3,802, with a separate private dining room. This is a rare opportunity to acquire a thriving, award-winning restaurant in a prime Clearwater location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7979
    Latitude
    27.9399
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,433
    $0.00
    $0.00
    $645,000
    -
    $254,880
    $390,120
    $645,000

    Comparable in this City

    • Value Estimation by Request
      5,550 SF

      1250 Missouri Ave

      RESTAURANT • 5,550 SF
      1250 Missouri Ave, Clearwater, FL 33756-9004
      View Details
    • Value Estimation
      $975,000
      4,366 SF

      1700 Missouri Ave

      RESTAURANT • 4,366 SF
      1700 Missouri Ave, Clearwater, FL 33756-1223
      View Details
    • Value Estimation by Request
      1,960 SF

      1510 Lakeview Rd

      RESTAURANT • 1,960 SF
      1510 Lakeview Rd, Clearwater, FL 33756-3648
      View Details
    • Value Estimation by Request
      1,980 SF

      1101 Ft Harrison Ave

      RESTAURANT • 1,980 SF
      1101 Ft Harrison Ave, Clearwater, FL 33756-3907
      View Details
    • Value Estimation by Request
      2,019 SF

      700 Missouri Ave

      RESTAURANT • 2,019 SF
      700 Missouri Ave, Clearwater, FL 33756-5917
      View Details
    • Value Estimation
      $2,110,000
      4,554 SF

      1101 Missouri Ave

      RESTAURANT • 4,554 SF
      1101 Missouri Ave, Clearwater, FL 33756-4116
      View Details

    Similar Nearby for Sale

    • $850,000
      1,288 SF

      Auto Repair Business For Sale

      Established auto repair business with property and adjacent lot.
      1216 N Fort Harrison Ave, Clearwater, FL 33756
      View Details
    • New
      $225,000
      848 SF

      Clearwater Mixed-Use Investment Opportunity

      Versatile property near Clearwater Beach, ideal for business or residence.
      711 Smith St, Clearwater, FL 33756
      View Details
    • $695,000
      3,500 SF

      Clearwater Redevelopment Opportunity

      Prime 15,000 SF lot, vacant, mixed-use potential.
      409 Madison Ave, Clearwater, FL 33756
      View Details
    • $754,000
      2,300 SF

      Clearwater Auto Shop and Business

      Established auto service business and property on high-traffic Missouri Ave.
      1371 S Missouri Ave, Clearwater, FL 33756
      View Details
    • $799,999
      1,080 SF

      Prime Clearwater Retail Opportunity

      .84-Acre Retail Building, Triple-Net Lease
      1100 Myrtle Ave, Clearwater, FL 33756
      View Details
    • $1,069,000
      4,400 SF

      Prime Clearwater Office Building

      High-Yield, Govt-Leased Office Investment
      602 Martin Luther King Jr Ave, Clearwater, FL 33756
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building with Drive-Thru

      738 SF building on 0.36 acres with drive-thru.
      Clearwater, FL 33756
      View Details
    • Contact for pricing
      738 SF

      Freestanding Building with Drive-Thru

      Freestanding building with drive-thru, multiple access points, and high visibility.
      1595 S Missouri Ave, Clearwater, FL 33756
      View Details
    • Contact for pricing
      17,424 SF

      Missouri Ave Retail Opportunity

      Prime Pinellas County Retail Land Lease
      800 Missouri Ave, Clearwater, FL 33756
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Publix-Anchored Center

      Retail space for lease in Clearwater, Florida.
      1521-1595 S Highland Ave, Clearwater, FL 33756
      View Details
    • Contact for pricing
      127,973 SF

      Clearwater Plaza Retail Center

      Prime Clearwater retail space, 7 units available.
      1219 Missouri Ave, Clearwater, FL 33756
      View Details
    • Contact for pricing
      4,010 SF

      Retail Space in Clearwater Center

      Retail space available in busy Clearwater shopping center.
      1219-1293 S Missouri Ave, Clearwater, FL 33756
      View Details
    Request Owner's contact information
    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.
    1575 Ft Harrison Ave
    Clearwater, FL 33756-2004
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.