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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 Bayway Blvd Clearwater, FL 33767

    • Commercial real estate
    • 1,850 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7779413
    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

    • Vicki's Florida Beach Condos / Condominium Complex / Resort Hotel
    • Bay Harbor / Condominium Complex

    Property Details for 600 Bayway Blvd

    Year built
    2007
    Property size
    1,850 SF
    Property type
    Commercial real estate
    APN
    08-29-15-03466-000-5040

    Description

    This exceptional 1,850 square foot, fully furnished condo, located at 600 Bayway Blvd Unit 504 in Clearwater, Florida, presents a unique investment opportunity. Built in 2007 and renovated in 2021, this top-floor unit boasts breathtaking panoramic views of Clearwater Bay and includes a private boat lift. The property features three bedrooms, including a sophisticated master suite with floor-to-ceiling windows, balcony access, and a spa-like bathroom with dual vanities, a soaking tub, and a glass-enclosed shower. The open floor plan seamlessly connects the kitchen, dining, and living areas, all bathed in natural light. Recent upgrades include new flooring, an upgraded A/C system, a modern water heater, stylish light fixtures, and fresh paint throughout. Its prime location offers easy access to the award-winning Clearwater Beach and a variety of dining, shopping, and entertainment options. The flexible rental policies make it ideal for Airbnb and vacation rentals, generating a strong pro-forma NOI of $50,000 and a 5.13% pro-forma cap rate. This income-producing property is listed at $975,000, with a price per square foot of $527.03. The APN is 08-29-15-03466-000-5040. This is a turnkey opportunity to own a luxurious waterfront property with significant investment potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.826572
    Latitude
    27.9682016

    Comparable in this City

    • $335,000

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      CLEARWATER BEACH Development Opportunity

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      Clearwater Beach Duplex Rental Opportunity

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      CLEARWATER BEACH Triplex Investment Opportunity

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    Similar Nearby for Sale

    • $335,000

      Clearwater Beach Investment Opportunity

      Turnkey, fully furnished unit near Clearwater Beach with rental options.
      445 S Gulfview Blvd, Clearwater, FL 33767
      View Details
    • $2,100,000
      0.15 Acres

      CLEARWATER BEACH Development Opportunity

      Development site near intercoastal with waterview and potential.
      580 Bay Esplanade, Clearwater Beach, FL 33767
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    • $530,000

      Furnished Condo with Gulf Views

      Furnished 2-bedroom condo with Gulf views in Clearwater Beach.
      450 S Gulfview Blvd, Clearwater, FL 33767
      View Details
    • $333,500

      Island Estates Co-Op Condo

      Two-bedroom condo with utilities included and panoramic beach views.
      31 Island Way, Clearwater, FL 33767
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    • $3,500,000
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      Clearwater Beach Duplex Rental Opportunity

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      42 Somerset St, Clearwater Beach, FL 33767
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    • $799,000
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      CLEARWATER BEACH Triplex Investment Opportunity

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    Similar Nearby for Lease

    • 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
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    • $30 SF/Yr
      2,650 SF

      Retail Space Near Clearwater Beach

      Retail space in Tampa MSA, near Clearwater Beach.
      130-200 Island Way, Clearwater, FL 33767
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    • $20,000 /Mo

      Retail Space For Rent

      Retail space available for lease in Clearwater, Florida.
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    • $9,000 /Mo

      Clearwater Office/Retail Space Available

      Office and retail space for rent in Clearwater, Florida.
      501 Mandalay Ave, Clearwater, FL 33767
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    • $300 /Mo
      38,017 SF

      Clearwater Beach Office Space

      Prime Beachfront Office, 900-2735 SF
      483 Mandalay Ave, Clearwater, FL 33767
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    • $40 SF/Yr
      11,789 SF

      Pelican Walk Retail Spaces in Clearwater

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    600 Bayway Blvd
    Clearwater, FL 33767
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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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