MarisaDiLenge
SQUARE FEET15,448
MLS#A4697854
STATUSActive
PROPERTY TYPECommercial - Multiple
SUBDIVISIONBROOKWOOD TERRACE REV
Property Description
Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/2BA in a two-story CBS walk-up. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,588. Trailing NOI ~$221K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
Property Features
Property Type: Commercial - Multiple
Cooling: Central Air
Heating: Central, Electric
Lot Size: 0.53 Acres
Roof Type: Membrane
Stories: 2.0
Taxes: $27,093
Year Built: 1973
Feature Descriptions
Appliances: Refrigerator
Directions: From Sunset Point Rd, turn south onto N Lady Mary Dr; 111 N Lady Mary Dr is on the property directly across from Clearwater Country Club.
Exterior: Block
Flood Zone Code: AE
Foundation: Slab
Home Warranty Y/N: No
Listing Terms: Cash, Commercial Financing
Lot Dimensions: 0.53
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Multi-Family 5+
Sale Includes: Building(s) and Land, Leases
Sewer: Public Sewer
Showing Instructions: Listing Agent Must Accompany, See Remarks
Special Sale Provisions: None
Units: 18
Utilities: Electricity Available, Public, Water Connected
Water: Public
Water Access Y/N: No
Listed By / Shown By
Listed By
Agency Name: G&R REAL ESTATE BROKERAGE, LLC
Agency Contact: 404-368-8072
Shown By
Agent Name: Marisa DiLenge
Agent Phone: Cell: (954) 258-5885
Agency Title: Realty 100
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111 N Lady Mary Drive | MLS# A4697854
This commercial property located at 111 N Lady Mary Drive , Clearwater, FL 33755 is currently listed for sale with an asking price of $3,400,000. Search Clearwater real estate on marisadilenge.realty100.com today.