11% CAP RATE-PROFESSIONAL OFFICE 12 UNIT CTR

19,875 SF | 4% Leased | Office Building | Clearwater, FL 33756 | $1,400,000 ($70/SF) | 11% Cap Rate

Asking Price $1,400,000

Property Type: Office
Square Feet: 19,875 SF
Price / Square Foot: $70

Listing Contacts

George William

Verified Profile

Property Info

Property Overview

Unparalleled investment opportunity in Clearwater, Florida – a strategically positioned 12 unit office building priced aggressively. This hidden gem presents investors with substantial upside potential, coupled with a proforma double-digit capitalization rate. Nestled in the heart of Clearwater minutes from the beach, this property not only offers a prime location but also promises a lucrative return on investment. Seize the chance to capitalize on the thriving real estate market in this sought-after coastal destination, where the fusion of a competitive purchase price and significant growth prospects converges, making it an ideal venture for savvy investors seeking a strategic and lucrative addition to their portfolio.
Downtown Clearwater is home to an exciting project called Imagine Clearwater, where the city is investing $84 million in the downtown waterfront, the celebration to this project will begin on June 28th with an entire week of events ending with the fireworks of the 4th of July as the grand finale! "The park is designed to connect the waterfront with downtown and will include a gateway plaza and bluff walk, 19 acres of park space, a pedestrian promenade along the Intracoastal Waterway, and a playground with splash pad. A focal point will be the 4,000-seat covered amphitheater with lawn space for 5,000 people. Ruth Eckerd Hall, which will operate the facility, last week unveiled the name of the venue will be The Sound." - Tampa Bay Times

Property Details

Class: C
Year Built: 1973
Stories: 2
Lot Size (sq. ft): 23,958 SF

Highlights

12-UNIT OFFICE CENTER
SPANISH GARDEN ARCHITECTURE
ALL TENANTS ON MONTH TO MONTH EXCEPT FOR TWO
PROPERTY COMES WITH TWO OVERSIZED PARKING-LOTS
ADD VALUE PROPERTY WILL BRING DOUBLE DIGIT CAP RATE
SEPARATE ELECTRIC METERS

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