483 Mandalay Ave - Storefront FOR SALE


Clearwater Beach, FL 33767
$25,000,000 USD
407-405-0238
483 Mandalay Ave, Clearwater Beach, FL for Sale
$25,000,000 USD
Storefront - FOR SALE
1/12
null | 6.63% Cap Rate

483 Mandalay Ave
Clearwater Beach, FL 33767


HIGHLIGHTS

  • Largest, most recognizable center on Clearwater Beach, one of the most visited beach destinations in the U.S
  • Attached to the only public parking garage in North Beach, delivering automatic foot traffic and boosts dwell time of customers to Plaza
  • 38,713 SF, 98% NNN leased to 18 tenants
  • Lifestyle & Trophy Asset appeal, experiential center with tourism-driven revenue tailwinds
  • Immediate proximity to Pier 60, beachfront hotels, resorts, and public beach access
  • Benefits from year-round tourism, seasonal population spikes, and strong international tourist visitation

OVERVIEW

CBRE is pleased to present for sale Pelican Walk Plaza, a 38,713 SF retail destination located on Clearwater Beach, a location consistently recognized as the #1 beach in the nation. Pelican Walk is arguably the largest and most recognized center on the beach and holds one of the most coveted positions on the strip. This location places it within a five-minute walk of major landmarks such as Pier 60 Park, the Hilton Clearwater Beach Resort, the upscale Belle Harbor Condos, Sandpearl Resort, and Mandalay Park. This proximity ensures a consistent flow of customers from nearby accommodations, benefiting the businesses within the plaza and contributing to its commercial success. As a prominent retail and dining destination, Pelican Walk Plaza houses popular establishments like Hogan’s Beach Shop, Clearwater Comedy Club, and Hurricane Eddie’s, attracting a steady stream of visitors. Ownership has invested more than $2M in improvements since 2018, creating a vibrant atmosphere with diverse offerings that enhance the overall appeal of the beachfront, making it a central hub for shopping and dining. Additionally, the plaza is directly connected to the only parking garage on North Clearwater Beach (700 spaces), serving both beachgoers and plaza customers, with pedestrian crosswalks on either side providing safe, direct access to and from the beach. This connectivity delivers a constant, built-in flow of beachbound foot traffic, ensures reliable and convenient parking for customers, and captures both planned visits and impulse spending from pedestrians moving directly between the garage, the retail center, and the beach, significantly boosting visibility, dwell time, and sales potential for tenants.

FOR SALE DETAILS

PRICE

$25,000,000 USD

PRICE/SF

$646 USD /SF

CAP RATE

6.63%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pelican Walk Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

T

APN/PARCEL ID

08-29-15-60417-000-0100

ASK ABOUT THIS PROPERTY

James GarnerCBREMore Info
407-405-0238

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James GarnerCBREMore Info
407-405-0238

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.