Klein & Heuchan Realtors
1744 N. Belcher Road Suite 200
Clearwater, FL 33765
727-441-1951

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09/20/2019 - (01:25:51 PM)

Featured Property

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Property Type: Office Property, Retail Property
Property ID: SI-1510
Featured Property: Yes
Associate: Philippe Beau

5750 ROOSEVELT BLVD.
CLEARWATER,, FL   33760

Property Information:
NOTES: 1. Current use as car wash: Average income over the last 5 years is $162,138 with 4 self-service bays and one touchless wash bay opened 24/7 + detail center with 3 bays + office and dog wash room. Average materials and supplies expenses are $27,055 yielding NOI $135,084 which is 19.5% CAP rate at $695,000 sales price. Perfect business for semi –retired investor. Let it work for you! Located in an opportunity zone.

2. Potential Office/Retail Conversion: High value prime 0.6 acre site is bordered by 3 streets, with also access to corner light of 58th Ave. Great window with signage on 35,000 vehicles a day.
Can be converted to office/retail center. 2009 ADA and hurricane code office (400 SF) and detail center (1,600 SF) can be used as office and/or retail showroom with 10,000 SF of asphalt immediately usable for increase in parking. Car wash could also be enclosed for office, retail or storage use (2,000 SF). Existing FAR is 15% and could be increased with additional parking if desired. Existing site plan was approved 10 years ago by City of Largo with capacity pond and impervious asphalt surface which can entertain potential new design, or use, or even reasonable building expansion. Direct to permit phase thanks to Commercial Neighborhood zoning. Rare location, access and exposure opportunity. Priced below Appraisal of January 2019!
SALE PRICE: $695,000

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