Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    647 Mandalay Ave Clearwater, FL 33767-1523

    • Strip malls
    • 4,626 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $1,245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4590327
    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

    • The Shipwreck / Bar & Pub

    Property Details for 647 Mandalay Ave

    Year built
    1956
    Construction
    CONCRETE BLOCKS
    Lot size
    0.21 lot acres
    Property size
    4,626 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    05-29-15-54747-084-0030
    APU
    52915547470840030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,243,000
      Market price range: $400k - $1.24M
      AI Estimate
      $1,243,000
      Market price range: $400k - $1.24M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $815,000
      Current use
      RETAIL STORES
      $960,000
      Change: +18% Conversion: Easy
      WAREHOUSE, STORAGE
      $940,000
      Change: +16% Conversion: Difficult
      OFFICE BUILDING
      $870,000
      Change: +7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.8263
    Latitude
    27.9877
    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
    $22,694
    $0.00
    $0.00
    $1,460,000
    -
    $1,238,541
    $221,459
    $1,460,000

    Comparable in this City

    • Value Estimation
      $3,605,000
      13,400 SF

      644 Gulfview Blvd

      SHOPPING CENTER, STRIP CENTER • 13,400 SF
      644 Gulfview Blvd, Clearwater, FL 33767
      View Details
    • Value Estimation
      $7,940,000
      29,528 SF

      1241 Gulf Blvd

      SHOPPING CENTER, STRIP CENTER • 29,528 SF
      1241 Gulf Blvd, Clearwater, FL 33767-2706
      View Details
    • Value Estimation
      $2,215,000
      8,232 SF

      458 Mandalay Ave

      SHOPPING CENTER, STRIP CENTER • 8,232 SF
      458 Mandalay Ave, Clearwater, FL 33767-2046
      View Details
    • Value Estimation
      $2,625,000
      9,755 SF

      377 Mandalay Ave

      SHOPPING CENTER, STRIP CENTER • 9,755 SF
      377 Mandalay Ave, Clearwater, FL 33767
      View Details
    • Value Estimation
      $1,405,000
      5,224 SF

      280 Windward Psge

      SHOPPING CENTER, STRIP CENTER • 5,224 SF
      280 Windward Psge, Clearwater, FL 33767-2241
      View Details
    • Value Estimation
      $2,260,000
      8,402 SF

      741 Bayway Blvd

      SHOPPING CENTER, STRIP CENTER • 8,402 SF
      741 Bayway Blvd, Clearwater, FL 33767-2610
      View Details

    Similar Nearby for Sale

    • $325,000
      237 SF

      Clearwater Beach Retail Opportunity

      Turnkey business in Clearwater Beach Marina with high foot traffic.
      25 Causeway Blvd, Clearwater Beach, FL 33767
      View Details
    • $99,000
      900 SF

      Established Clearwater Beach Boba Cafe

      Profitable, 5-star rated boba cafe in prime Clearwater Beach location.
      483 Mandalay Ave, Clearwater Beach, FL 33767
      View Details
    • $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
    • $1,850,000

      Clearwater Commercial Property For Sale

      Commercial property available for sale in Clearwater, Florida.
      451 Poinsettia Ave, Clearwater, FL 33767
      View Details
    • $357,000

      Clearwater Commercial Land For Sale

      Commercial land available in Clearwater, Florida.
      603 Mandalay Ave, 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
      View Details

    Similar Nearby for Lease

    • $20,000 /Mo

      Retail Space For Rent

      Retail space available for lease in Clearwater, Florida.
      301 S Gulfview Blvd, Clearwater, FL 33767
      View Details
    • $9,000 /Mo

      Clearwater Office/Retail Space Available

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

      Clearwater Beach Office Space

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

      Pelican Walk Retail Spaces in Clearwater

      Prime Clearwater retail space, multiple suites available.
      470 Poinsettia Ave, 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.
    647 Mandalay Ave
    Clearwater, FL 33767-1523
    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

    Google sign-in failed. Please try again or use another login method.