405 Marshall St Clearwater, FL 33755
- Commercial real estate
- 4,480 SF
- 0.30 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 405 Marshall St
- Lot size
- 0.30 lot acres
- Property size
- 4,480 SF
- Property type
- Commercial real estate
- APN
- 09-29-15-55530-000-0230, 09-29-15-55530-000-0190
Description
This exceptional multifamily investment opportunity presents six turnkey luxury units in the vibrant Clearwater, Florida market. The property, known as Key West Village, comprises four buildings totaling 4,480 square feet on a 0.3-acre lot. Built in 1938 and 1940, the property features a mix of apartment and single-family homes, with two of the six units being single-family residences. Recent Class A renovations include granite countertops, shaker cabinetry, stainless-steel appliances, new flooring, fixtures, and lighting. Tenants are responsible for all utilities. The property boasts a current NOI of $108,392 and a pro-forma NOI of $116,695, translating to a 6.02% cap rate and a pro-forma cap rate of 6.41%, respectively. Located at 405 Marshall Street, Clearwater, FL 33755, this property benefits from its prime location adjacent to the rapidly growing Clearwater Marina District, with over $1 billion in planned developments. Its proximity to Downtown Clearwater, The Sound at Coachman Park, Bilheimer Capitol Theatre, and Clearwater Beach adds significant appeal. The property is zoned Commercial & LMDR, offering significant upside potential through conversion to short-term rentals. This presents a compelling investment opportunity with substantial potential for increased income. The asking price is $1,800,000, or $300,000 per unit. The property's APN is 09-29-15-55530-000-0230, 09-29-15-55530-000-0190.
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
- -82.7973314
- Latitude
- 27.9809967
