Retail Space - For Sale
1194 Northeast Cleveland Street Clearwater, FL 33755
Details & Description
Price: $1,950,000
  • Property Type Retail for Sale : Gas/Convenience
  • Lot Size Acres 0.350
  • Building Sq Ft 750
  • Building Price per Sq Ft $2,600.00
  • Land Sq Ft 15,245
  • Land Price per Sq Ft $127.91
THIS INCREDIBLE SHELL GAS STATION IS LOCATED IN DOWNTOWN CLEARWATER, FL. MINUTES FROM WORLD-FAMOUS CLEARWATER BEACH! CLEARWATER, IS ONE OF THE FASTEST-GROWING MARKETS IN ALL OF FLORIDA. THIS ONE-OF-A-KIND INVESTMENT OPPORTUNITY COMES WITH A 4-PUMP SERVICE STATION, A NEW PURE NNN (20-YEAR) LEASE, AND A GO MARKET SIGNATURE STORE! THE PROPERTY SITS ON THE CORNER OF CLEVELAND AND DREW ST, TWO OF THE BUSIEST STREETS IN ALL OF CLEARWATER, FL!THIS IS A SAFE AND EASY WAY TO MAKE A (6.2% TO 9%) RETURN FOR THE NEXT 20 YEARS! THE TENANT HAS AN EXTREMELY STRONG BUSINESS MODEL WITH PROVEN HISTORICAL SUCCESS IN THIS LOCATION AND A BRAND NEW 20-YEAR GAS AGREEMENT WITH SHELL! A BUYER WILL INSTANTLY OBTAIN A 6.2% CAP RATE ON DAY ONE, AND WITH THE INCREASES IN PLACE, A BUYER WILL OBTAIN A 7%+ CAP RATE BY YEAR 5! BY THE END OF THE LEASE, A BUYER WILL BE ABLE TO OBTAIN OVER AN 9% CAP RATE! THE RECENT UPGRADES AND THE ADDITION OF THE NEW GO MARKET STORE, MAKE THIS AN INCREDIBLE VALUE-ADD ASSET!CURRENTLY, THE PROPERTY HAS A BRAND NEW 20-YEAR PURE-NNN LEASE IN PLACE. THE LEASE, WHICH WILL COMMENCE ON THE DAY OF CLOSING IN 2022, WILL PAY THE OWNER $10,000 PER MONTH INITIALLY AND INCREASE BY 10% EVERY 5 YEARS THROUGHOUT THE TERM OF THE LEASE. EVEN BETTER IS THE FACT THAT THE TENANT HAS (2) FIVE-YEAR OPTIONS TO EXTEND AFTER THE EXPIRATION OF THE INITIAL LEASE TERM. THIS GIVES THE BUYER LOCKED-IN SECURITY AND FANTASTIC RENTAL INCOME FOR THE NEXT 20+ YEARS WITHOUT LIFTING A FINGER. THE LEASE IS FULLY GUARANTEED BY THE TENANT AND BACKED BY A SHELL GAS AGREEMENT THROUGHOUT THE LIFE OF THE LEASE.THIS IS THE PERFECT INVESTMENT OPPORTUNITY FOR SOMEONE LOOKING TO LOCK IN A STRONG LONG-TERM INCOME, $120,000 MINIMUM PER YEAR, WITH A STRONG AND PROVEN TENANT. THE OPERATOR (TENANT) HAS MANY OTHER GAS STATIONS IN THE SURROUNDING AREA AND HAS BEEN RUNNING AND OPERATING GAS STATIONS FOR OVER 30 YEARS. THEY ARE SEASONED PROFESSIONALS WHO HAVE A STRONG TRACK RECORD AND A PROVEN BUSINESS MODEL THAT HAS BEEN WORKING FOR YEARS!THE CURRENT STATION DOES AN AVERAGE OF APPROXIMATELY (110,000 GALLONS) PER MONTH AT THIS LOCATION, NOT TO MENTION THE AMAZING STORE SALES OF OVER ($70,000) PER MONTH. THIS WILL ONLY INCREASE WITH THE ADDITION OF THE NEW SIGNATURE "GO MARKET" STORE THAT WILL SIT IN THE REAR OF THE PROPERTY! THE UPDATED STORE WILL ONLY BOOST THE STORE SALES AT THIS LOCATION IN THE FUTURE!THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF APPROXIMATELY 6.2% WITH RENTAL INCREASES EVERY FIVE YEARS BUILT INTO THE CURRENT LEASE. BY 2036, THE BUYER WILL EASILY SURPASS A CAP RATE OF 8.2% AND THIS WILL RISE 5 YEARS LATER TO A CAP RATE OF OVER 9% WITH AN UPSIDE FOR MORE AFTER THE INITIAL TERM. IT IS VIRTUALLY IMPOSSIBLE TO FIND ANY PURE NNN SHELL STATION ON THE MARKET PRODUCING A (6.2%-9%) CAP RATE LOCKED IN FOR THE NEXT 20 YEARS. THIS OPPORTUNITY WILL NOT LAST LONG AS THE RENTAL UPSIDE AND SECURITY OF THIS EXTREMELY STRONG TENANT IS A COMBINATION THAT IS IMPOSSIBLE TO FIND ANYWHERE IN THIS MARKET.
Property Highlights
 PURE NNN SHELL STATION IN THE HEART OF DOWNTOWN CLEARWATER, FL!
 PURE NNN SHELL STATION IN THE HEART OF DOWNTOWN CLEARWATER, FL!
Additional Photos
Listing Agents
Kari Grimaldi

O: 813-882-0884
M: 813-928-3733
kari@grimaldicommercialrealty.com
David Rosenthal

O: 813-882-0884
M: 813-245-7333
david@grimaldicommercialrealty.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

1194 Northeast Cleveland Street

Clearwater, FL 33755

Listing ID: 295037
$1,950,000
For Sale
  • Property Type Retail for Sale : Gas/Convenience
  • Lot Size Acres 0.350
  • Building Sq Ft 750
  • Building Price per Sq Ft $2,600.00
  • Land Sq Ft 15,245
  • Land Price per Sq Ft $127.91
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 1
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 2
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 3
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 4
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 5
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 6
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 7
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 8
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 9
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 10
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 11
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 12
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 13
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 14
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 15
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 16
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 17
  • 1194 Northeast Cleveland Street Clearwater, FL 33755 | for Sale | Photo 18
1194 Northeast Cleveland Street | for Sale | Thumbnail 1
1194 Northeast Cleveland Street | for Sale | Thumbnail 2
1194 Northeast Cleveland Street | for Sale | Thumbnail 3
1194 Northeast Cleveland Street | for Sale | Thumbnail 4
1194 Northeast Cleveland Street | for Sale | Thumbnail 5
1194 Northeast Cleveland Street | for Sale | Thumbnail 6
1194 Northeast Cleveland Street | for Sale | Thumbnail 7
1194 Northeast Cleveland Street | for Sale | Thumbnail 8
1194 Northeast Cleveland Street | for Sale | Thumbnail 9
1194 Northeast Cleveland Street | for Sale | Thumbnail 10
1194 Northeast Cleveland Street | for Sale | Thumbnail 11
1194 Northeast Cleveland Street | for Sale | Thumbnail 12
1194 Northeast Cleveland Street | for Sale | Thumbnail 13
1194 Northeast Cleveland Street | for Sale | Thumbnail 14
1194 Northeast Cleveland Street | for Sale | Thumbnail 15
1194 Northeast Cleveland Street | for Sale | Thumbnail 16
1194 Northeast Cleveland Street | for Sale | Thumbnail 17
1194 Northeast Cleveland Street | for Sale | Thumbnail 18
Property Highlights
 PURE NNN SHELL STATION IN THE HEART OF DOWNTOWN CLEARWATER, FL!
Description

THIS INCREDIBLE SHELL GAS STATION IS LOCATED IN DOWNTOWN CLEARWATER, FL. MINUTES FROM WORLD-FAMOUS CLEARWATER BEACH! CLEARWATER, IS ONE OF THE FASTEST-GROWING MARKETS IN ALL OF FLORIDA. THIS ONE-OF-A-KIND INVESTMENT OPPORTUNITY COMES WITH A 4-PUMP SERVICE STATION, A NEW PURE NNN (20-YEAR) LEASE, AND A GO MARKET SIGNATURE STORE! THE PROPERTY SITS ON THE CORNER OF CLEVELAND AND DREW ST, TWO OF THE BUSIEST STREETS IN ALL OF CLEARWATER, FL!

THIS IS A SAFE AND EASY WAY TO MAKE A (6.2% TO 9%) RETURN FOR THE NEXT 20 YEARS! THE TENANT HAS AN EXTREMELY STRONG BUSINESS MODEL WITH PROVEN HISTORICAL SUCCESS IN THIS LOCATION AND A BRAND NEW 20-YEAR GAS AGREEMENT WITH SHELL! A BUYER WILL INSTANTLY OBTAIN A 6.2% CAP RATE ON DAY ONE, AND WITH THE INCREASES IN PLACE, A BUYER WILL OBTAIN A 7%+ CAP RATE BY YEAR 5! BY THE END OF THE LEASE, A BUYER WILL BE ABLE TO OBTAIN OVER AN 9% CAP RATE! THE RECENT UPGRADES AND THE ADDITION OF THE NEW GO MARKET STORE, MAKE THIS AN INCREDIBLE VALUE-ADD ASSET!

CURRENTLY, THE PROPERTY HAS A BRAND NEW 20-YEAR PURE-NNN LEASE IN PLACE. THE LEASE, WHICH WILL COMMENCE ON THE DAY OF CLOSING IN 2022, WILL PAY THE OWNER $10,000 PER MONTH INITIALLY AND INCREASE BY 10% EVERY 5 YEARS THROUGHOUT THE TERM OF THE LEASE. EVEN BETTER IS THE FACT THAT THE TENANT HAS (2) FIVE-YEAR OPTIONS TO EXTEND AFTER THE EXPIRATION OF THE INITIAL LEASE TERM. THIS GIVES THE BUYER LOCKED-IN SECURITY AND FANTASTIC RENTAL INCOME FOR THE NEXT 20+ YEARS WITHOUT LIFTING A FINGER. THE LEASE IS FULLY GUARANTEED BY THE TENANT AND BACKED BY A SHELL GAS AGREEMENT THROUGHOUT THE LIFE OF THE LEASE.

THIS IS THE PERFECT INVESTMENT OPPORTUNITY FOR SOMEONE LOOKING TO LOCK IN A STRONG LONG-TERM INCOME, $120,000 MINIMUM PER YEAR, WITH A STRONG AND PROVEN TENANT. THE OPERATOR (TENANT) HAS MANY OTHER GAS STATIONS IN THE SURROUNDING AREA AND HAS BEEN RUNNING AND OPERATING GAS STATIONS FOR OVER 30 YEARS. THEY ARE SEASONED PROFESSIONALS WHO HAVE A STRONG TRACK RECORD AND A PROVEN BUSINESS MODEL THAT HAS BEEN WORKING FOR YEARS!

THE CURRENT STATION DOES AN AVERAGE OF APPROXIMATELY (110,000 GALLONS) PER MONTH AT THIS LOCATION, NOT TO MENTION THE AMAZING STORE SALES OF OVER ($70,000) PER MONTH. THIS WILL ONLY INCREASE WITH THE ADDITION OF THE NEW SIGNATURE "GO MARKET" STORE THAT WILL SIT IN THE REAR OF THE PROPERTY! THE UPDATED STORE WILL ONLY BOOST THE STORE SALES AT THIS LOCATION IN THE FUTURE!

THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF APPROXIMATELY 6.2% WITH RENTAL INCREASES EVERY FIVE YEARS BUILT INTO THE CURRENT LEASE. BY 2036, THE BUYER WILL EASILY SURPASS A CAP RATE OF 8.2% AND THIS WILL RISE 5 YEARS LATER TO A CAP RATE OF OVER 9% WITH AN UPSIDE FOR MORE AFTER THE INITIAL TERM. IT IS VIRTUALLY IMPOSSIBLE TO FIND ANY PURE NNN SHELL STATION ON THE MARKET PRODUCING A (6.2%-9%) CAP RATE LOCKED IN FOR THE NEXT 20 YEARS. THIS OPPORTUNITY WILL NOT LAST LONG AS THE RENTAL UPSIDE AND SECURITY OF THIS EXTREMELY STRONG TENANT IS A COMBINATION THAT IS IMPOSSIBLE TO FIND ANYWHERE IN THIS MARKET.

Attachments & Files

Traffic Counts

Points of Interest & Demographic Radii
Points of Interest
Demographic Radii
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
St Petersburg History of Retail Space for Sale

Loan and Amortization Calculator

Listing Price
Down Payment

Loan Amount:
Interest Rate:
Term (months):

Your Monthly Payment

$0.00

Total Principal: --

Total Interest: --

Total Cost: --

Clearwater Area Market Trends

Listing Demographics for 1194 Northeast Cleveland Street Clearwater, FL 33755

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population14,62593,174222,005
Population Median Age404446
Population by Age0-9 Yrs2242 (15%)9092 (9%)19464 (8%)
10-19 Yrs1492 (10%)9847 (10%)19896 (8%)
20-29 Yrs1541 (10%)9883 (10%)23524 (10%)
30-39 Yrs2004 (13%)12067 (12%)25388 (11%)
40-49 Yrs1786 (12%)10391 (11%)23032 (10%)
50-59 Yrs1863 (12%)14283 (15%)33595 (15%)
60-69 Yrs1778 (12%)13406 (14%)34522 (15%)
70+ Yrs1919 (13%)14203 (15%)42583 (19%)
Median HH Income$31,067$48,590$49,052
Total Household Income< 24K2525 (42%)9897 (25%)23661 (24%)
25-49K1452 (24%)9732 (25%)25714 (26%)
50-74K775 (12%)6392 (16%)17437 (17%)
75-99K500 (8%)4025 (10%)10912 (11%)
100-199K611 (10%)6675 (17%)15319 (15%)
200K+130 (2%)1768 (4%)4117 (4%)
Highest Education LevelNo Diploma1598753116850
Diploma or GED35572122052680
Some College21961580040517
Assoc. Degree700624215998
Bachelors Degree15001269030045
Higher Degree724644016814
Total Housing Units7,11546,672118,649
--Owner-Occupied2,29023,30061,024
--Renter-Occupied3,70215,19136,136
Owner-Occupied Values< 100K360376415054
100-199K952661417136
200-299K521643714129
300-399K22530186903
400-499K7810462631
500K+15424205172
Total Working Age Population11,53678,048190,035
In Work Force6,63045,489107,169
Not In Work Force4,90632,55982,866
Workforce Employed5,96442,513100,353
Workforce Unemployed6642,9006,604
Civlian Workforce6,62845,413106,958
Military Workforce277211
Total Households5,99338,49197,160
Family Households2,58721,25151,969
Non-Family Households3,40617,24045,191
Married Couple1,22914,28237,858
Other Family1,3586,96914,111
Married w/Child4123,8929,435
Single Male w/Child1248201,728
Single Female w/Child5522,5004,883

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Pinellas County921,482-1916,542+7983,883+51,034,290

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Other Retail Space Listings for Sale Nearby
Address Price Sq Ft Acres
805 South Fort Harrison Avenue, Clearwater, FL $900,000 1544 -
1700 Gulf to Bay Boulevard, Clearwater, FL CALL 3100 0.47
1898 North Highland Avenue, Clearwater, FL CALL 3033 -
506 Main Street, Dunedin, FL $840,000 2987 -
556 Main Street, Dunedin, FL $2,500,000 1592 0.23
2530 East Bay Drive, Largo, FL $1,535,000 2952 0.91
16313 US Highway 19 North, Clearwater, FL $3,586,000 161172 3.7
10125 Ulmerton Road, Largo, FL $2,000,000 7385 -
12487 Seminole Boulevard, Largo, FL $1,200,000 6250 0.55
29335 US Highway 19 North, Clearwater, FL CALL 5084 0.94
Closest Commercial Airports
Airport Distance (mi)
Tampa International Airport (TPA) 16
Sarasota Bradenton International Airport (SRQ) 42
Orlando International Airport (MCO) 96
Listing Agent
Listing Co-Agent
Kari Grimaldi - CRE Agent at

David Rosenthal

More listings from Kari Grimaldi
Featured Local Vendors
• SUPPORT OUR FREE PLATFORM •
The below vendors allow us to provide our platform at no cost. Please consider their services when needed.
• General Contractor •
Green Roots logo
• Property Inspection •
SWF Home Inspections - Commercial and Residential logo
We find what you may have missed!
• Cleaning Company •
Horn Commercial Cleaning LLC logo
A clean, sanitized office is here!
• Custom Radius Reports •
Cubit logo
Get the data you need. Click here

Share
Other property types near Clearwater, FL