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Gelfand Realty Miami Properties for Sale - Commercial for Sale

602 S MARTIN LUTHER KING JR, CLEARWATER, FL 33756

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Commercial - MAGNOLIA PARK for Sale

602 S MARTIN LUTHER KING JR, CLEARWATER, FL 33756

Asking Price$1,069,000 Change Price$86,000

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  • Days on market:

    297 day(s)
  • Original Price:

    $1,400,000
  • Price per sqft:

    $242.95
  • Tax Legal Description:

    MAGNOLIA PARK BLK 23, LOTS 15 AND 16
  • Tax Year:

    2022
  • Property Type:

    Commercial
  • Construction Type:

    Block
  • Cooling Description:

    Central Air
  • Special Listing Conditions:

    None

Description

$1,069,000 • living size area 4400 sqft

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.

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