602 S Martin Luther King Jr Avenue, Clearwater, FL 33756

$1,050,000
4,400
SqFt

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Sold Price
$1,050,000
List Price
$1,069,000
Status
Sold
Days on Market
433
Closing Date
Feb 20, 2025
MLS#
U8223569
Property Style
Office
Year Built
1964
Living Area
4,400
Lot Size
17,071
Acres
0.39
Total Acreage
1/4 to less than 1/2
Legal Subdivision Name
Magnolia Park
MLS Area Major
Clearwater/Belleair

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.

Additional Information

Taxes Annual
$6192
Community Features
No Deed Restriction
Air Conditioning
Central Air
Exterior Construction
Block
Foundation
Slab
Pool
No Pool
Flood Zone Code
X
Parcel ID
15-29-15-54450-023-0150
Legal Description
MAGNOLIA PARK BLK 23, LOTS 15 AND 16

Listing courtesy of MAVREALTY. 727-314-3942

Selling Office: BAST COMMERCIAL GROUP.

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Calculator source: Real Geeks

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