504 S Myrtle Ave, Clearwater, FL 33756
- Manufacturing properties
- 3,024 SF
- 0.44 lot acres
Current Use by Public Records
- 24/7 Water Damage Restoration Services of Clearwater / Building Inspector
Property Details for 504 S Myrtle Ave
- Year built
- 1949
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.44 lot acres
- Property type
- Manufacturing properties
- APN
- 15-29-15-54450-018-0030
- APU
- 152915544500180030
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 24, 2022 | $710,000 | Prelude Holdings LLC | Hose & Hydraulics INC | Warranty Deed | $550k · Station Square Realty LLC |
| Mar 26, 2004 | $240,000 | Hose & Hydraulics INC | Frontier Properties | Grant Deed | $240k · Hose & Hydraulics INC |
Description
This exceptional 0.55-acre development opportunity in downtown Clearwater, Florida, presents a unique chance to build a 40-unit Class A apartment complex. Located at the hard corner of S Myrtle Ave and Chestnut St (Gulf to Bay Blvd), this prime site boasts a permitted PD zoning and is situated just 100 feet from the Pinellas Trail and minutes from Clearwater Beach. The existing plans include a six-story building with 30,000 square feet, 60 parking spaces, and a rooftop terrace. The property offers a compelling 8% cap rate with a pro-forma of 10%, and is situated within an Opportunity Zone, providing significant long-term tax advantages. Seller financing is available with a $2,000,000 down payment, a 6% fixed interest rate, interest-only payments, and a 3 or 5-year balloon. The current plans are for apartments, but the site allows for flexibility, potentially accommodating additional units, more parking, or even a condo conversion. The seller has initiated the development order process, expediting the permitting and construction timeline. This is a truly remarkable opportunity to capitalize on the thriving Clearwater market. The property features one building, built in 2024, with 100% occupancy. APN: 15-29-15-54450-018-0030. Asking price: $4,000,000.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $932,000
- AI Estimate
- $932,000
Market price range: $302k - $933kMarket price range: $302k - $933k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $630,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Clearwater
- County
- Pinellas
- State
- Florida
- Longitude
- -82.7962
- Latitude
- 27.9604
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
