Dreznin Pappas Commercial Real Estate

Investment Highlights

The House of Flowers (Villa Fiore) offers a buyer potential rental upside through strategic interior renovations. Prospective purchasers are encouraged to arrange property tours with the Dreznin Pappas commercial real estate listing agents. At no time shall the tenants, on-site management or staff be contacted without prior approval or should anyone approach the property without prior authorization.
Villa Fiore, a concrete Masonry/Block construction property, offers an investment opportunity with its recent updates, including $40,000+ investment in newer hurricane impact windows and electrical updates.
The building consists of six (6) Two Bedroom / One bath apartments presenting a value-add purchase with long term potential upside in rents.
With direct parking, water, sewer, and trash included in the price, there is an opportunity to increase rental income by approximately ($25+ /mo to $75+) /mo per unit which are below market rates.
Beyond the current rental income, there are additional revenue streams waiting to be tapped at Bella Rosa.
To boost the income, consider implementing pet fees for smaller pets, which are currently welcome with restrictions. Moreover, offering on-site laundry facilities can provide another avenue for generating revenue. By potentially passing through Water/Sewer costs to tenants, you can optimize expenses and enhance this property's financial performance.

Area Highlights

Centrally located, Villa Fiore is moments from Clearwater High School and is ideally located east of Downtown Clearwater between two major hospitals in Clearwater and Dunedin. Convenient access to US-19 and SR-60 makes for easy travel throughout the Tampa/St. Pete MSA. 20 minutes to Tampa Airport, Hyde Park, Downtown Tampa, Westshore Mall. Less than 30 minutes to Downtown St. Petersburg, The St. Pete Pier and The Vinoy.
Downtown is the city’s cultural hub, home to galleries and performing arts venues, including concerts and musicals. Waterfront Coachman Park holds music festivals, and the Pinellas Trail (37 miles) of biking and walking. The pedestrian-friendly Cleveland Street District has eateries serving foods from many countries around the world, plus wine bars, casual pubs, fine dinning and many well know restaurants. All within a 10 minute drive from this property! Clearwater has experienced a population growth greater than 7% since the year 2000 and is expected to experience even further explosive growth with current trends showing 1,000 people moving to Florida every day. Median household incomes are up over 20%, while property values have increased nearly 135% since 2000. Clearwater is primed to see continued growth in all areas of the local economy which will certainly benefit the Subject Property.
Clearwater, FL Major Employers Tech Data - 14,000 (headquartered in Clearwater) Lincare Holdings - 11,000 (HIC) Baycare Health. - 8,750 (HIC) BIC Graphic. - 3,000 (HIC) Scientology - 2,000 (HIC) Marine Max. - 1,750 (HIC) Pinellas County. - 1,500 (HIC) Heritage Insure. - 900 (HIC)
You’ll also find the Spring Training home of the Philadelphia Phillies as well as phenomenal entertainment venues – all within a short distance of the amazing white sands of Clearwater Beach.