Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    603 Mandalay Ave, Unit 101 Clearwater, FL 33767-1630
    Back to Search
    Property profile & analytics

    603 Mandalay Ave, Unit 101, Clearwater, FL 33767-1630

    View on Map
    • Hotels
    • 620 SF
    Off-Market
    Last Sale May 7, 2024
    $320,000
    Property ID
    US18-5566457
    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

    • Camelot Beach Suites - Hotel Clearwater Beach / Hotel & Motel

    Property Details for 603 Mandalay Ave

    Year built
    1950
    Construction
    WOOD FRAME
    Property type
    Hotels
    Property subtype
    Motels
    APN
    05-29-15-77276-000-1010
    APU
    52915772760001010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 7, 2024 $320,000 Beti M Martorano Royal Camelot LLC Warranty Deed $224k · Lending Capital Group INC
    Oct 18, 2004 $1,400,000 Royal Camelot LLC Hubbard,eunice Warranty Deed $1.7M · Cornerstone Community Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.8263
    Latitude
    27.9854
    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
    $3,878
    $0.00
    $0.00
    $231,880
    -
    $0.00
    $231,880
    $231,880

    Comparable in this City

    • Value Estimation
      $6,885,000
      384 SF

      445 Gulfview Blvd, Unit 326

      HOTEL/MOTEL
      445 Gulfview Blvd, Clearwater, FL 33767-2508
      View Details
    • Value Estimation by Request
      9,702 SF

      18 Bay Esplanade

      HOTEL/MOTEL
      18 Bay Esplanade, Clearwater, FL 33767-1603
      View Details
    • Value Estimation
      $16,760,000
      2,329 SF

      333 Coronado Dr

      HOTEL/MOTEL
      333 Coronado Dr, Clearwater, FL 33767-2433
      View Details
    • Value Estimation
      $8,095,000
      337 SF

      673 Bay Esplanade, Unit 107

      HOTEL/MOTEL
      673 Bay Esplanade, Clearwater, FL 33767-1503
      View Details
    • Value Estimation by Request
      31,290 SF

      625 Gulfview Blvd

      HOTEL/MOTEL
      625 Gulfview Blvd, Clearwater, FL 33767-2643
      View Details
    • Value Estimation
      $27,835,000
      38,450 SF

      325 Gulfview Blvd

      HOTEL/MOTEL
      325 Gulfview Blvd, Clearwater, FL 33767-2445
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,412 SF

      Clearwater Beach Motel For Sale

      41-unit motel near the beach with heated pool.
      648 Poinsettia Ave, Clearwater Beach, FL 33767
      View Details
    • Contact for pricing
      7,417 SF

      Waterfront Motel with Dock

      22-unit waterfront motel featuring a renovated heated pool and dock.
      345 Hamden Dr, Clearwater Beach, FL 33767
      View Details

    Similar Nearby for Lease

    • $60 SF/Yr
      8,336 SF

      Beachfront Retail Leasing Opportunity

      Premier retail suites available at luxury Gulf-front hotel in Clearwater.
      400 Coronado Dr, Clearwater Beach, 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
    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.
    603 Mandalay Ave, Unit 101
    Clearwater, FL 33767-1630
    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

    Thank You for Inquiry
    603 Mandalay Ave, Clearwater, FL, 33767
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!