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111 N LADY MARY DR Clearwater, FL 33755
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Key Details
Sold Price $3,100,000
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 13,056 sqft
Price per Sqft $237
Subdivision Brookwood Terrace Rev
MLS Listing ID A4697854
Sold Date 08/28/26
Construction Status Completed
HOA Y/N No
Year Built 1973
Annual Tax Amount $27,093
Lot Size 0.530 Acres
Acres 0.53
Lot Dimensions 125x183
Property Sub-Type Multi-Family 5+
Source Stellar MLS
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/1BA in a two-story CBS garden-style building. 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 ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
Location
State FL
County Pinellas
Community Brookwood Terrace Rev
Area 33755 - Clearwater
Interior
Heating Central, Electric
Cooling Central Air
Appliance Refrigerator
Exterior
Utilities Available Electricity Available, Public, Water Connected
View Y/N No
Water Access No
Roof Type Membrane
Exposure Undetermined
Building
Story 2
Entry Level Two
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Completed
Others
Ownership Fee Simple
Acceptable Financing Cash, Commercial Financing
Listing Terms Cash, Commercial Financing
Special Listing Condition None
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© 2026 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with William Gryboski RIDER REAL ESTATE
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