638-644 Mandalay Ave - Apartments FOR SALE


Clearwater, FL 33767- Clearwater Beach
$7,900,000 USD
727-410-5522
638-644 Mandalay Ave, Clearwater, FL for Sale
$7,900,000 USD
Apartments - FOR SALE
1/40
null | Request Cap Rate

638-644 Mandalay Ave
Clearwater, FL 33767
Clearwater Beach


HIGHLIGHTS

  • Prime location for tourists and vacation rentals
  • Steps to the beach - no roads to cross
  • Redevelopment opportunity

OVERVIEW

Discover a unique opportunity to own three desirable parcels of land on stunning Clearwater Beach, a premier tourist destination renowned for its beautiful white-sand beaches and vibrant atmosphere. This prime location boasts high demand for vacation rentals, making it an ideal investment for those looking to capitalize on the flourishing rental market or scoop up land for a development. Spanning a total of 0.30 acres, the property currently features 11 well-maintained rental units, comprising a charming 5-unit apartment building, two inviting duplexes, and two standalone cottages. Each unit offers a cozy retreat for guests, enhanced by sought-after amenities such as a relaxing hot tub and a communal outdoor space that encourages socializing and relaxation. Situated just 100 steps from the beach, this property is perfectly positioned for vacationers, being a mere 6 blocks north of the iconic Pier 60, and only 3 blocks from the beloved Frenchy’s Rockaway. Guests will enjoy easy access to sun-soaked shores, lively entertainment, and delicious dining options. Notably, this property was untouched during the 2024 hurricane season, ensuring peace of mind for future owners. With the potential for further development on the expansive 0.30 acres, this is an exciting opportunity for investors to enhance or expand the existing rental portfolio or create a brand-new venture that could meet the ever-growing demand for accommodations in this bustling tourist hotspot. Clearwater Beach, Florida, is renowned for its stunning white sandy shores and crystal-clear waters, making it a prime destination for beach lovers. Voted America's Best Beach multiple times, it boasts a vibrant atmosphere with a variety of dining, shopping, and recreational activities. Visitors can enjoy long walks on the beach, morning jogs on the Beach Walk, water sports, and stunning sunsets, all contributing to its reputation as a top vacation spot. Don’t miss out on this rare chance to invest in a thriving market on Clearwater Beach—where every day feels like a vacation! Contact us today to learn more about this incredible property and the possibilities it holds.

FOR SALE DETAILS

PRICE

$7,900,000 USD

PRICE/SF

$1,078 USD /SF

# OF UNITS

11

PRICE/UNIT

$718,182

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1944

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,166 SF

ZONING

Commercial, tourism

APN/PARCEL ID

05-29-15-16362-004-0070,05-29-15-16362-004-0090,05-29-15-16362-004-0091

ASK ABOUT THIS PROPERTY

Evan PedoneEngel & Volkers Madeira BeachMore Info
727-410-5522

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Evan PedoneEngel & Volkers Madeira BeachMore Info
727-410-5522

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.