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    483 Mandalay Ave Clearwater, FL 33767-2034
    Property profile & analytics

    483 Mandalay Ave, Clearwater, FL 33767-2034

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    • Investment properties
    • 37,722 SF
    Off-Market
    Property ID
    US18-8327337
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pelican Walk Plaza Clearwater Beach Florida / Shopping Center & Mall
    • Captain’s Pizza North Beach / Restaurant
    • Clearwater Beach Real Estate / Real Estate Agency
    • Salt House Social / Bar & Pub / Restaurant
    • Maui Nix Surf Shop / (Bike/Boat/Book/etc) Store

    Property Details for 483 Mandalay Ave

    Year built
    1994
    Construction
    WOOD FRAME
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    08-29-15-60417-000-0100
    APU
    82915604170000100

    Description

    Pelican Walk Plaza, located at 483 Mandalay Ave, Clearwater Beach, FL 33767, offers a unique opportunity to lease Class A office space in a landmark retail plaza. This two-story, 38,017 square foot building, constructed in 1992 and extensively renovated in 2024, boasts a prime location directly across from beach access and adjacent to a public parking garage with over 780 spaces. The available space, ranging from 900 to 2,735 contiguous square feet, is situated within a vibrant, diverse tenant mix. Unit 201, located on the second floor, offers a newly renovated interior featuring tile flooring, high industrial ceilings, new AC units, updated bathrooms, a front reception area, a large open floor plan, a conference room, a kitchenette, and two bathrooms. The unit also includes outdoor balcony space providing excellent street visibility. The building features four staircases and two elevators, ensuring convenient access. The property's zoning is Tourist, and it benefits from a comprehensive landlord-implemented signage program, including directories and marketing screens, maximizing tenant exposure. The space is suitable for office, retail, or restaurant use, however, vape shops, smoke shops, kava bars, and tattoo parlors are not permitted. This exceptional property offers unparalleled visibility and accessibility in a high-demand Clearwater Beach location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,769,485,000
      Market price range: $6.04M - $1.85G
      AI Estimate
      $1,769,485,000
      Market price range: $6.04M - $1.85G

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.8266
    Latitude
    27.9814
    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
    $259,554
    $0.00
    $0.00
    $13,465,000
    -
    $0.00
    $13,465,000
    $13,465,000

    Comparable in this City

    • Value Estimation by Request
      1,766 SF

      476 Mandalay Ave

      STORE/OFFICE (MIXED USE)
      476 Mandalay Ave, Clearwater, FL 33767-2015
      View Details
    • Value Estimation by Request
      1,766 SF

      474 Mandalay Ave

      STORE/OFFICE (MIXED USE)
      474 Mandalay Ave, Clearwater, FL 33767-2015
      View Details
    • Value Estimation by Request
      31,131 SF

      311 Gulfview Blvd

      STORE/OFFICE (MIXED USE)
      311 Gulfview Blvd, Clearwater, FL 33767-2445
      View Details
    • Value Estimation by Request
      1,585 SF

      478 Mandalay Ave

      STORE/OFFICE (MIXED USE)
      478 Mandalay Ave, Clearwater, FL 33767-2015
      View Details
    • Value Estimation by Request
      2,262 SF

      472 Mandalay Ave

      STORE/OFFICE (MIXED USE)
      472 Mandalay Ave, Clearwater, FL 33767-2015
      View Details
    • Value Estimation
      $31,975,000
      1,058 SF

      880 Mandalay Ave, Unit CU-2

      STORE/OFFICE (MIXED USE)
      880 Mandalay Ave, Clearwater, FL 33767-1242
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Sand Key

      Retail and office spaces near beaches and major resorts.
      795 Bayway Blvd, Clearwater, FL 33767
      View Details
    • Contact for pricing

      Retail Space Former Dippin Dots

      Retail space available, previously occupied by Dippin Dots.
      470 Poinsettia Ave, Clearwater, FL 33767
      View Details
    • Contact for pricing
      1,900 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces available near Clearwater Marina and hotels.
      300 Hamden Dr, Clearwater Beach, FL 33767
      View Details
    • Contact for pricing
      3,160 SF

      Retail Space Near Clearwater Beach

      Retail space in Tampa MSA, near Clearwater Beach.
      130-200 Island Way, Clearwater, FL 33767
      View Details
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    483 Mandalay Ave
    Clearwater, FL 33767-2034
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    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
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