"Somerset" New Development Site

Vacant Land for Sale
Also listed as Hospitality
Catylist Listing ID: 30574961
Property Subtypes: Hospitality, Multi-Family, Vacation/Resort
Gross Land Area: 0.40 Acres
Sale Price: $4,000,000
Unit Price: $10,000,000 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 6/15/2020

Overview / Comments

Attention Developers! Great opportunity to build in the heart of the world famous "Clearwater Beach", known as the #1 Best Beach in America.
Three development plans are available to choose from that the City of Clearwater has approved and that falls under the compliance guidelines of Beach by Design Permitted to build a Total of 20 accommodating units
* 9 Brand New Residential Townhomes (full set of construction drawings avail.)
* 14 Condo/resort-style units (some construction drawings avail.)
* 20 Total Room Motel (75% construction drawings avail.)

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Submarket/Township: Clearwater
Submarket Type: Other
Tax ID/APN: 15 29 05 16362 002 0090
Property Located Between: Site is on the corner of Mandalay Ave and Somerset Street (Clearwater Beach)
Property Visibility: Excellent
Legal Description: Clearwater Beach REV Blk 2 Lot 6
Largest Nearby Street: Mandalay Ave
Feet of Frontage: 50
Airports: Clearwater- St. Pete and Tampa International Airport
Site Description: Current Vacant Waterfront Lot, Ready to Build, City Permit approved Construction drawings by Architect included
Area Description: Waterfront, Beachfront Community, Tourist Resorts and Development
Lot Frontage: 50ft
Lot Depth: 87ft
Zoning Description: Flood Zone "AE" Residential or Resort condos
Part of Planned Development?: Yes
Development Name: Beach by Design
In Flood Plain?: Yes
Topography: Level
Soil Type: Mixed

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,763 45,736 147,693
Median Age: 59 45.64 46.78
Households: 1,492 20,853 66,974


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