Clearwater Office Bldg Near Downtown-11%+ cap
1164 NE Cleveland Street, Clearwater, Florida 33755
Sold: $1,067,650
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
16,410 sqft
Land Size
0.84 acres
Sewer
City
Water
City
Zoning
Office
Electric
Florida Power
Year Built
1982
Roof
Flat
Parking
Approx 49
Cap Rate
11% With 5% Vac Factor
Occupancy
100%
Construction
CB
Price Per Sq Ft
78.37
Length Of Leases
Majority go to 2012
Property Description
Solid investment property: This well-built, well-located office complex is for sale. All but 1 of the 8 suites has been renovated, and all with updated mechanicals (roofs, AC units, plumbing). Located 1 mile east of downtown Clearwater, it offers central location and ease of operation. Partnership dissolution prompts sale. 11% cap with 5% vacancy rate. Most leases until 2012+. More information available attached and upon request.