602 S MARTIN LUTHER KING JR AVE Active Save Request In-Person Tour Request Virtual Tour
Clearwater,FL 33756
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $262
Subdivision Magnolia Park
MLS Listing ID U8223569
HOA Y/N No
Originating Board Stellar MLS
Year Built 1964
Annual Tax Amount $6,192
Lot Size 0.390 Acres
Acres 0.39
Lot Dimensions 98x175
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.
Location
State FL
County Pinellas
Community Magnolia Park
Interior
Cooling Central Air
Exterior
Waterfront false
Building
Story 1
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Structure Type Block
New Construction false
Others
Ownership Corporation
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None