|Price/Rent PSF||$ 1,900,000.00|
|SQ. FT. Available||9,552|
|Space 1||.35 Acres|
|Space 2||Built: 1948|
|Space 3||Opportunity to build new Hotel, Condos, or Condo/Hotel|
|Space 4||Current Motel = $190,000 / key|
Licensed Motel with the benefit of a redevelopment opportunity.
Views to the sandy white beach of Clearwater and the Intracoastal Waterway... both of which are only a short walk away.
Property is approved under Clearwater zoning to develop a 40 unit high-rise hotel to truly capture the spectacular views of the Intracoastal Waterway and breathtaking sunsets over the Gulf of Mexico.
Current Zoning: Tourist
Base elevation of approx 11' ALLOWS:
1.) Hotel (highest and best use) 75' above base elevation (1.2 parking spaces parking required per key)
Total land area =15400SF = 17.5 rooms. (50 units / Acre)
Possible to add additional rooms with approval of the City of Clearwater upon meeting set-back & height restrictions, if hotel credits are available.
2.) Residential Condo 65' height restriction above Base elevation, 30 units per acre, 2 parking spaces required per Condo = 10 buildable condos.
3.) Condo Hotel (Attached Dwelling) 65' height, above Base elevation above , 30 units per acre, 1.5 parking space requirement per unit. = 10 total units
Property is located among fine restaurants and shopping along Mandalay Ave.
Please complete CA and contact us to receive additional information on this property.
Interested parties must refrain from contacting any Tenant or onsite employees. All tours will be conducted by appointment only with a VRI representative present.