Multifamily Property for Sale in Clearwater, FL

  • Price: $4.4M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Clearwater, FL 33755
  • Size: 18,187 SF

Description

KW Commercial Tampa Properties is pleased to present 1214–1242 Cleveland Street, Clearwater, FL 33755 (the “Property”). This rare, nearly 2-acre four-parcel assemblage in the heart of Downtown Clearwater now offers a fully cleared development site spanning a full city block along Cleveland Street, plus a stand-alone parking lot to the west — providing scale, flexibility, and immediate redevelopment potential. The property is zoned (D)-Downtown and features 435 feet of frontage from N Jefferson Ave to N Lincoln Ave. All existing retail improvements have been removed, allowing a developer to move forward without demolition risk or delay. Positioned steps from the new Clearwater Gardens housing community and near major projects such as the Bluff Apartments, Harborview Hotel, new City Hall, the PSTA Transit Station, and the Cleveland Street Alliance’s planned entertainment and cinema destination, the site stands as a true generational redevelopment opportunity in Clearwater’s urban core. The completed demolition further streamlines execution and enhances the property’s appeal to multifamily, hotel, or mixed-use developers seeking a shovel-ready infill opportunity. Building SF: 18187 | Land Size: 1.99 Ac | Listing Type: FOR SALE

Market Context

This multifamily in Clearwater, FL is listed for sale at $4,420,000 across 18,187 SF. It has been on the market for 38 days. Compare it against other multifamily listings for sale in Clearwater, FL — <a href="/search/sale/multifamily/florida/clearwater">view the full market</a>.

As of Q4 2025, the Tampa multifamily market showed a 10.3% vacancy rate, rents up 1.9% year over year, and cap rates around 5.6%. Source: Www.matthews.com Q4 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Tampa?
About 5.6% as of Q4 2025, per Www.matthews.com.
Is the Tampa multifamily market tightening or softening?
Vacancy is around 10.3%, with asking rents rising year over year (Q4 2025).

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