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2871 Gulf to Bay Boulevard
SOLD

Joe Scuderi Of The Widewaters Group Acquires McDonald's Property In Clearwater For $3.07M

2871 Gulf to Bay Boulevard

Retail
5,447 SF
clock iconSold 37 days ago
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Summary

Sale
FLORIDA
Retail
5,447 sqft

A 5,447-square-foot McDonald’s located at 2871 Gulf-to-Bay Blvd., Clearwater, was sold for $3.07 million. The property sits on 1.28 acres in a commercial strip near U.S. Highway 19, neighboring iconic establishments like Robert’s Christmas Wonderland Store and the original Hooters restaurant.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,070,000
  • Buyer: Joe Scuderi - The Widewaters Group
  • Broker: SRS Real Estate Partners
  • Square Footage: 5,447
  • Price per Square Foot: $564
  • Market: Clearwater
  • Asset Type: Retail

The purchase as part of a 1031 Exchange was made by a Syracuse, New York-based company linked to The Widewaters Group. The transaction was facilitated by SRS Real Estate Partners' capital markets division, which has completed 182 deals across 34 states totaling $731 million in deal volume so far this year.

Details

Deal Summary
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SOLD
IMAGE: 06/06/2024 ADDRESS: 2871 Gulf to Bay Boulevard MARKET: Clearwater ASSET TYPE: Retail ~ ACRES: 1.28 BUYER: Joe Scuderi - The Widewaters Group BROKER: SRS Real Estate Partners SALE PRICE: $3,070,000 SF: 5,447 ~ PPSF: $564 NOTE: A Clearwater property housing a McDonald’s, located at 2871 Gulf-to-Bay Blvd., was sold as part of a 1031 Exchange to a Syracuse, New York-based company linked to The Widewaters Group, a commercial real estate developer and management firm, for $3.07 million in a ground lease sale, boasting the lowest cap rate for a McDonald’s property sold nationally this year at 3.87%. The 5,447-square-foot McDonald’s, built in 2014 with approximately 10 years remaining on its lease, sits on 1.28 acres in a commercial strip near U.S. Highway 19, neighboring iconic establishments like Robert’s Christmas Wonderland Store and the original Hooters restaurant, while SRS Real Estate Partners’ capital markets division facilitated the transaction, having completed 182 deals across 34 states totaling $731 million in deal volume so far this year.

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Address2871 Gulf to Bay Boulevard

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