Headshot for Associate Marisa Brewer
  1. Marisa Brewer, Broker,REALTOR ®,e-PRO
  2. Preferred Property Associates Inc
  3. Office: 352.688.1303
  4. Mobile: 352.279.3522
  5. mbrewer@pparealty.com
602 Martin Luther King Jr Avenue, CLEARWATER, FL 33756
  • MLS#: U8223569 ( Commercial Sale )
  • Street Address: 602 Martin Luther King Jr Avenue
  • Viewed: 12
  • Price: $1,069,000
  • Price sqft: $243
  • Waterfront: No
  • Year Built: 1964
  • Bldg sqft: 4400
  • Days On Market: 408
  • Additional Information
  • Geolocation: 27.9592 / -82.7919
  • County: PINELLAS
  • City: CLEARWATER
  • Zipcode: 33756
  • Subdivision: Magnolia Park
  • Provided by: MAVREALTY
  • Contact: Drew Moser
  • 727-314-3942
  • mfrmls
  • DMCA Notice
  • Description
    This newly renovated investment property, fully leased with a government tenant, presents a unique and appealing opportunity for investors seeking stability and minimal maintenance. The ten year lease with a government tenant ensures a dependable and consistent income stream, boasting a 7.5% CAP rate. Government tenants provide enhanced investment stability due to their reliable payment schedules and low default risk, making this an attractive option for discerning investors. The recent comprehensive renovations include new electrical systems, plumbing, roofing, air conditioning units, ductwork, interior framing, insulation, and fresh paint, ensuring minimal maintenance costs and a hassle free ownership experience. Investors can effortlessly acquire a well maintained and operational asset without needing extensive updates. Don't miss the chance to enhance your portfolio with this premium property. Contact the listing broker for detailed financial information, including rent rolls and lease specifics.
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Features
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. Central Air
Country
  1. US
Covered Spaces
  1. 0.00
Garage Spaces
  1. 0.00
Legal Description
  1. MAGNOLIA PARK BLK 23
  2. LOTS 15 AND 16
Living Area
  1. 4400.00
Area Major
  1. 33756 - Clearwater/Belleair
Net Operating Income
  1. 96514.00
Parcel Number
  1. 15-29-15-54450-023-0150
Property Type
  1. Commercial Sale
Road Frontage Type
  1. City Street
Tax Year
  1. 2022
Township
  1. 29
Views
  1. 12
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/U8223569
Year Built
  1. 1964
Headshot for Associate Marisa Brewer
  1. Marisa Brewer, Broker,REALTOR ®,e-PRO
  2. Preferred Property Associates Inc
  3. Office: 352.688.1303
  4. Mobile: 352.279.3522
  5. mbrewer@pparealty.com