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Office

1208-1216 S. Myrtle Ave

1208-1216 S. Myrtle Ave, Clearwater, FL 33767

Listing Price: $1,612,000

Cap Rate
1.83%
Gross SF
7,378
Rentable SF
7,378
Price/Gross SF
$218.49
Lot Size
0.44 acres
Year Built
1984

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire this 7,500+\- square foot office building in Clearwater. The property is currently under one ownership, but has been delineated into condos, which could be sold separately. Each unit has private restroom(s), and many have showers as well. Private balconies are also included in most units. The property is currently leased to multiple tenants with one owner occupied unit that will be vacated at the time of sale. The owner has purposely kept the leases short to allow a new buyer flexibility and most rents are currently below market, allowing an investor upside through bringing rents up to market. The building was built to last with cement construction from floor to roof and many other upgrades that make it superior to surrounding properties.
The location is convenient to multiple major thoroughfares, downtown Clearwater and Clearwater Beach.

Investment Highlights

  • Well Built Cement Building From Floor to Roof
  • Below Market Rents
  • Individual Units Can be Sold Separately

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $1,612,000

Cap Rate
1.83%
Gross SF
7,378
Rentable SF
7,378
Price/Gross SF
$218.49
Lot Size
0.44 acres
Year Built
1984

Investment Highlights

  • Well Built Cement Building From Floor to Roof
  • Below Market Rents
  • Individual Units Can be Sold Separately

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire this 7,500+\- square foot office building in Clearwater. The property is currently under one ownership, but has been delineated into condos, which could be sold separately. Each unit has private restroom(s), and many have showers as well. Private balconies are also included in most units. The property is currently leased to multiple tenants with one owner occupied unit that will be vacated at the time of sale. The owner has purposely kept the leases short to allow a new buyer flexibility and most rents are currently below market, allowing an investor upside through bringing rents up to market. The building was built to last with cement construction from floor to roof and many other upgrades that make it superior to surrounding properties.
The location is convenient to multiple major thoroughfares, downtown Clearwater and Clearwater Beach.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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