SRS Real Estate Brokers Sell Retail Center In Clearwater For $4.6M

The property involved in the transaction is a fully leased strip retail center located at 2420 Gulf to Bay Boulevard in Clearwater. The asset spans 6,750 square feet and was sold for $4,600,000, amounting to a price per square foot of $681. The retail center is home to tenants such as Jersey Mike’s Subs, My Eye Dr., and MD Now Urgent Care, all operating under long-term leases. The sale was facilitated by SRS Real Estate Partners and achieved a cap rate of 6.2%. The buyer, a South Florida-based private investor, acquired the property from an unnamed Florida-based developer.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,600,000
• Address: 2420 Gulf to Bay Boulevard
• Market: Clearwater
• Square Footage: 6,750
• Brokers: Patrick Nutt & William Wamble - SRS Real Estate Partners

Patrick Nutt and William Wamble of SRS Real Estate Partners represented the seller, an undisclosed Florida-based developer, in the sale of the retail center. The involvement of these brokers played a pivotal role in finalizing the transaction between the seller and the South Florida-based private investor. The successful deal underscored the collaborative effort of the brokers in bringing about a satisfactory agreement for both parties involved.