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$2,990,000 For Sale

1510 Barry Road
Clearwater, FL 33756

2 units |
33,175 sq ft,
1.93 acre lot
Commercial: Commercial - MLS# U7820997
Property Photo
1/25

Description

Don’t miss this once in a lifetime opportunity to invest into the senior housing industry! The subject property consists of 26238 usable square feet sitting on a large 1.94 acre lot. This property has zoning approval in hand for a 91 bed Assisted Living Facility. It also has approved building plans. The current construction costs are approximately $1.7mil to build a state of the art Assisted Living Facility. Upon completion this property will be worth $7.5 mil based on recent comparable sales. Upon Stabilization (90% occupied) this facility is worth well over $8.5mil. After acquisition costs construction and stabilization there is over $3.8mil in profit. Similar ALF's when stabilized are netting $682500.00 per year. This is based on the average ALF operating in the State of Florida. This property is located in an excellent aging demographic of Clearwater Florida. It is in walking distance of a large nursing home and a 55+ residential community and rehabilitation center; giving this facility great synergy with the surrounding properties. The building is currently in shell condition with approved plans in hand ready for construction. It is very difficult to get zoning approval for 91 beds which adds significant value to this property.

Features

  • Acres: 1.9300
  • Construction Status: Completed
  • County/Area: Pinellas County
  • Exterior Construction: Block
  • Listing Status: Active
  • Location: In City Limits, Oversized Lot, Street Paved
  • Lot Size Sq Ft: 83866
  • Net Leasable Sq Ft: 26238
  • Parcel Number: 23-29-15-00000-210-0100
  • Parking: Over 30 Spaces
  • Property Status: Existing
  • Property Type: Commercial
  • Road Frontage: County Road
  • Road Frontage Ft: 297
  • Sq Ft Gross: 26238
  • Sq.Ft.: 33175
  • Square Foot Source: Public Records
  • Sub Type: Commercial
  • Tax Year: 2016
  • Taxes: 15867
  • Total Acreage: One + to Two Acres
  • Township: 29
  • Units: 2
  • Year Built: 1965
  • Zip Code: 33756
Copyright © 2017 Mid Florida MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Mid Florida MLS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. RE/MAX participates in the MFRMLS Internet Data Exchange (IDX) program, allowing display of other MFRMLS broker's listings on this site. However may not include all listings currently available. Information is deemed reliable but not guaranteed. Information last updated at 2017-09-20 03:36:05.



Mark Ganier

RE/MAX Realtec Group
727-403-5611
markganier@topproducer.com

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Mark Ganier   |   Re/Max   |   727-403-5611   |   markganier@topproducer.com
Copyright © 2015. Mark Ganier, All Rights Reserved