1194 Cleveland St, Clearwater, FL 33755
900 SF | Retail Building | Clearwater, FL 33755 | $1,714,285 ($1,905/SF) | 7% Cap Rate
Asking Price $1,714,285
- Property Type
-
Retail
- Square Feet
- 900 SF
- Price / Square Foot
- $1,905
Listing Contacts
- Property Info
Property Overview
The Twist Capital Team of Colliers is pleased to offer for sale to qualified investors the opportunity to acquire this gas station and convenience store in Clearwater, Florida.
The site is strategically located at the intersection of NE Cleveland Street and Drew Street in a bustling urban area with high vehicular traffic and minutes away from Downtown Clearwater and the world-famous Clearwater Beach.
This exceptional asset epitomizes a unique investment opportunity amidst one of the fastest growing markets in Florida. Backed by a 20-year absolute NNN lease providing the new owner with a stable, predictable income stream, this investment opportunity is further enriched by the inclusion of a Go Market signature store within the premises. This convenience store diversification allows for a broader customer base by offering a variety of products ranging from quick snacks to essential goods, appealing to both the casual visitor and local residents.
Clearwater’s reputation as a rapidly growing market is bolstered by its tourist appeal, burgeoning population, and economic development, making investments in the area likely to reap benefits in operational revenues and long-term property appreciation. The property’s strategic location and stability provided by a solid tenant position this gas station as a compelling option for investors.
The site is strategically located at the intersection of NE Cleveland Street and Drew Street in a bustling urban area with high vehicular traffic and minutes away from Downtown Clearwater and the world-famous Clearwater Beach.
This exceptional asset epitomizes a unique investment opportunity amidst one of the fastest growing markets in Florida. Backed by a 20-year absolute NNN lease providing the new owner with a stable, predictable income stream, this investment opportunity is further enriched by the inclusion of a Go Market signature store within the premises. This convenience store diversification allows for a broader customer base by offering a variety of products ranging from quick snacks to essential goods, appealing to both the casual visitor and local residents.
Clearwater’s reputation as a rapidly growing market is bolstered by its tourist appeal, burgeoning population, and economic development, making investments in the area likely to reap benefits in operational revenues and long-term property appreciation. The property’s strategic location and stability provided by a solid tenant position this gas station as a compelling option for investors.
Property Details
- Class
- C
- Year Built/Renovated
- 1960/2022
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Freestanding, Service, Storefront
- Lot Size (sq. ft)
- 17,860 SF
Highlights
- Downtown Clearwater ensures high visibility, accessibility and steady stream of customers
- Low property rent indicates substantial opportunity for growth and increased valuation
- 10% rent increases every five years with the next increase in 2026
- 18 years remaining on primary term
- Absolute NNN lease - tenant is responsible for all expenses at the property
- Recent renovations include new HVAC, new pumps, tank upgrades, new canopy and signage
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