425 Island Way

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425 Island Way

Clearwater, FL 33767
Asking Price
$2.85M
Asset Type
Residential Land
Class
Class B

What's Special

Prime Waterfront Redevelopment Opportunity Potential for up to 22 Luxury Units and Boat Slips <ul><li>​<strong style="color: rgba(39, 37, 30, 1)">Entitled for up to 22 residential units </strong><span style="color: rgba(39, 37, 30, 1)">under MHDR-NCOD zoning — density secured</span></li><li>​<span style="color: rgba(39, 37, 30, 1)">Clearwater Harbor </span><strong style="color: rgba(39, 37, 30, 1)">frontage with potential for boat slips</strong></li><li>​<span style="color: rgba(39, 37, 30, 1)">Future Land Use: Residential High (RH) — </span><strong style="color: rgba(39, 37, 30, 1)">sup

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NOI
$80,000
Cap Rate
2.81%
DSCR
0.47
Underwater
Cash-on-Cash
-10.43%
Monthly Payment
$14,100.245
Annual Cash Flow
$-89,202.94

Location & Travel Times