Price Reduction
Address
602 S Martin Luther King Jr AVENUE, CLEARWATER, FL
Price
$ 1,155,000
Property Attributes
- MLS#U8223569
- TypeCommercial
- CountyPINELLAS
- CityCLEARWATER
- AreaClearwater-Belleair
- NeighborhoodMagnolia Park
- Zip33756
- StyleOffice
- Year Built1964
- Taxes$ 6192
- Price$ 1,155,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage4400
- Lot Size0.39 Acres
Data Source:
Stellar MLS
Property 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.
| Price History | |
|---|---|
| 12/12/2023 | Listed $1,400,000 |
| 1/24/2024 | 15% - $1,195,000 |
| 5/28/2024 | 4% - $1,155,000 |
General Features
| Cooling | Central Air |
|---|---|
| Construction Materials | Block |
| Year Built | 1964 |
| Property SubType | Office |
| Tax Year | 2022 |
| Percent Ownership | Corporation |
| County | Pinellas |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | MAGNOLIA PARK |
| Status | Active |
| Directions | From Court St...south on MLK to Turner |
| City | CLEARWATER |
| Buyer Agent Compensation | 2.5%-$399 |
| MLS Area | 33756 - Clearwater/Belleair |
| Lot Size Square Feet | 17071 |
| Waterfront Y/N | No |
| Street Name | Martin Luther King Jr |
| Listing Terms | Cash,Conventional |
| Tax Annual Amount | 6192 |
| Public Remarks | 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 |
| Virtual Tour | https://www.propertypanorama.com/instaview/stellar/U8223569 |
| Days on Market | 106 |
| Standard Status | Active |
| Tax Lot | 15 |
| Legal Description | MAGNOLIA PARK BLK 23,LOTS 15 AND 16 |
| Water Access Y/N | No |
| Water View Y/N | No |
Interior Features
| Total Stories | 1 |
|---|---|
| Air Conditioning Y/N | Yes |
| Street Suffix | AVENUE |
| LivingAreaSource | Public Records |
| Living Area Units | Square Feet |
Exterior Features
| Lot Size Area | 17071 |
|---|---|
| Foundation Details | Slab |
| Number of Buildings | 1 |
| Building Area Total | 4400 |
| Lot Dimensions | 98 x 175 |
| Lot Size Acres | 0.39 |
| Road Surface Type | Asphalt |
| Lot Size Units | Square Feet |
| Road Frontage Type | City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 33756
Price
Taxes
Year Built
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 28, 2024 11:11 PM UTC
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© 2024 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
