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1510 BARRY ROAD, Clearwater, FL 33756

$2,990,000
Commercial Property MLS# U7820997 ID: 45541665
$2,990,000 Get Rates

Commercial - CLEARWATER, FL
Don’t miss this once in a lifetime opportunity to invest into the senior housing industry! The subject property consists of 26,238 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 $682,500.00 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.

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Location Information near 1510 BARRY ROAD
Offered by Mark Ganier at Re/Max Realtec Group

Would you like more information regarding this property?
Please call (727) 789-5555.

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Property Features for 1510 BARRY ROAD
Status
Market Status
Available
Last Updated
August 20, 2017
Description
Property Type
Commercial Property
Year Built
1965
Approx. Lot Size
1.93 Acres
Sq. Feet
33,175

Exterior Features

  • Exterior Construction: Block

Legal/Financial

  • Taxes: 15867

Listing Features

  • Property Type: Commercial;

Lot Features

  • View: City

Data Provided by Pinellas Suncoast Association of Realtors Inc.

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More information about this $2,990,000 Commercial Property at 1510 BARRY ROAD

This $2,990,000 Commercial Property at 1510 BARRY ROAD in Clearwater, FL is offered by Mark Ganier. This $2,990,000 Commercial Property, located in the 33756 zip code, has the following property features: Exterior Construction, Property Type, View, Taxes. This 1510 BARRY ROAD Commercial Property, located in Pinellas County , is listed under MLS listing number U7820997 and has a listing price of $2,990,000. You can find more CLEARWATER homes for sale here.